In the End No One Was There to Come

Someone commented on my recent post about the IPCC and linked the way in which climate change has become a movement claiming that it is without scientific foundation with the way in which economies are built upon a fiction of worthless money. It set me thinking.  Continue reading

A Simple Guide to the Present State of the World Economy

The thrills and spills of the Olympic Games circus have rather distracted attention from the thrills and spills of the economy. Something bad is happening out there with currencies and the world economic outlook is in decline, but no one really notices as we praise competitors who win and commiserate with those who lose. What is happening in the economy of the world right now? The problem of the economy is created by other specific problems. Continue reading

Oil and Gold

One of my readers, “dimitrianshah”  has pointed out on these pages that if we were to price oil in gold, rather than in US dollars, we would see that the price of oil has been stable, relatively speaking. Or, to look at things the other way round, the price of gold has always been relatively stable if you used oil to buy gold. It seems that you could have always bought a barrel of crude oil for between two and three grams of pure gold. Continue reading