"Clouds Gathering"


Sandy was a bad storm. But some are warning of worse to come.

When quotes like the following are pushed through the chattersphere, it’s enough to make you wonder whether people who stockpile precious metals in backyard bunkers are so crazy after all:

I am more worried than I have ever been about the clouds gathering today (which may be the most wonderful contrary indicator you could hope for…). I hope they pass without breaking, but I fear the defining feature of coming decades will be a Great Disorder of the sort which has defined past epochs and scarred whole generations….

So I keep wondering to myself, do our money-printing central banks and their cheerleaders understand the full consequences of the monetary debasement they continue to engineer?

This comes from the newsletter of a well-respected financial analyst for French megabank Société Générale—one Dylan Grice. He adds: “The 99% blame the 1%, the 1% blame the 47%, the private sector blames the public sector, the public sector returns the sentiment… . . . the young blame the old, everyone blames the rich… . . . yet few question the ideas behind government or central banks.”

And this guy is apparently no charlatan—i.e. he’s not paid by a university to jaw jaw or write journal articles. Like other friends in low places, Grice has actually fed his family with the fruits of sound economic predictions. Maybe it’s time to start listening to the people who, instead of figuring out where to put their money, are preparing to adapt to a post-fiat-money world. At the very least we should prepare to pay $5.00 for a pair of socks.

Note: if you’re worried about global economic collapse, you may like Resilient Communities—a site dedicated to helping people prepare through localism.

Note 2: FEE scholar Steve Horwitz has great research on post-disaster recovery, which he’s done with the Mercatus Center.



Max Borders is the editor of The Freeman and director of content for FEE. He is also cofounder of the event experience Voice & Exit and author of Superwealth: Why we should stop worrying about the gap between rich and poor.

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July/August 2014

The United States' corporate tax burden is the highest in the world, but innovators will always find a way to duck away from Uncle Sam's reach. Doug Bandow explains how those with the means are renouncing their citizenship in increasing numbers, while J. Dayne Girard describes the innovative use of freeports to shield wealth from the myriad taxes and duties imposed on it as it moves around the world. Of course the politicians brand all of these people unpatriotic, hoping you won't think too hard about the difference between the usual crony-capitalist suspects and the global creative elite that have done so much to improve our lives. In a special tech section, Joseph Diedrich, Thomas Bogle, and Matthew McCaffrey look at various ways these innovators add value to our lives--even in ways they probably never expected.
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