Carlo Ponzi, Alias Uncle Sam by Gary North

Every Ponzi scheme involves five elements:

1. A promise of statistically impossible high returns
2. An investment story that makes no sense economically
3. Greedy investors who want something for nothing
4. A willing suspension of disbelief by investors
5. Investors' angry rejection of exposures by investigators

Strangely, most Ponzi schemes involve a sixth element: the unwillingness of the con man to quit and flee when he still can. Bernie Madoff is the supreme example. But Ponzi himself established the tradition.

via lewrockwell.com

http://burndownthefreakingmission.com

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What You Should Know About Inflation

In order to begin a discussion of the topic, it is necessary to first define what the term inflation actually means. The correct definition is an increase in a nation’s supply of money and credit. In more recent times it has become informal practice to refer to inflation as a general rise in prices. Hazlitt, however, points out that the two meanings are not equivalent, and the failure to grasp this distinction inevitably leads to confusing cause with effect. Inflation, in its proper definition, is almost always the result of government’s monetary and fiscal policies.

via lewrockwell.com

http://live-free-in-an-unfree-world.com

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The Virtual Recovery by Paul Craig Roberts

Since mid-2009 the US has been enjoying a virtual recovery courtesy of a rigged inflation measure that understates inflation. The financial Presstitutes spoon out the government’s propaganda that prices are rising less than 2%. But anyone who purchases food, fuel, medical care or anything else knows that low inflation is no more real that Saddam Hussein’s weapons of mass destruction or Gadhafi’s alleged attacks on Libyan protesters or Iran’s nuclear weapons. Everything is a lie to serve the power-brokers.

via lewrockwell.com

http://live-free-in-an-unfree-world.com

Posted via email from iPT Perpetual Traveler