The purpose of money
March 3, 2024The German Finance Minister, Lindner, a great strategist in the eyes of the Almighty, announces the implementation of an austerity plan consisting of reducing public spending by 30 billion in 2025… thus condemning his country and the rest of Europe to assured recession. A recession occurs when a state is suddenly gripped by the desire…
End game
February 12, 2023The gold standard was a system where the currency of a country was linked to gold and which could materialize either by defining a certain quantity of metal in exchange for the American dollar, or indirectly through currencies having a fixed parity against the greenback. As early as 1944 with Bretton Woods, only central…
2020: end of the “modern” world
November 3, 2020The collapse of the Weimar Republic was a turning point in European, even world, history. It must serve as a lesson, even almost a century on. We should indeed not forget that Chancellor Brüning – with the Great Depression in full swing – reduced public spending by more than 15 GDP percentage points, lowered…