My scrappy notes about the economics of ISIS gleaned from this video.
Coinage as a store of value, WW1 and Sykes-Picot mentioned as well as fractional reserve banking explained.
Gold standard, Weimar Republic, hyper-inflation.
Gold of Americans confiscated by their government.
Bretton Woods and Federal Reserve. $35 per ounce of gold. Federal Reserve the banker of the world ie the dollar as international currency.
Countries of the world had to give the Federal Reserve either their gold or their exports.
If you want to engage in international trade you have to use gold or dollars.
Vietnam War financed by printing of dollar notes. This made the rest of the world get their gold reserves out.
Nixon annulled Bretton Woods and cancelled all redemption rights to gold.
"The United States can pay any debt it has because we can always print money to that so there is zero probability of default."
The amount of base dollars in circulation generated by the Federal Reserve rose from £220 billion to £2.5 TRILLION.
Don't even ask me how many zeroes that is.
"When your currency supply is all owed back plus interest, and the currency to pay back the interest does not exist yet, it means you have to always go deeper in debt and so if the public doesn't always borrow more to cover the principal plus the interest it is owed on the currency supply, then the whole thing goes into a deflationary collapse."
Inflation is an adherent and perpetual part of this evil system, eroding the value of the pound in your pocket.
Thatcher herself admitted that inflation was a fraud on the saver.
"The lesson is clear. Inflation devalues us all."
MARGARET THATCHER, speech at Georgetown University, Feb. 27, 1981
"From time to time we have taken this prescription of sound money and good financial housekeeping. But we gave up because we didn't like the pain and discomfort that any medicine can cause when it starts to take effect. So we sought the easy option, but it always led to harder times—to worse inflation followed by more unemployment. Today we know that excess money creates the fever of inflation. Yet it is suggested that we are somehow jeopardising the future of industry by giving top priority to defeating inflation. I tell you that inflation is the biggest destroyer of all—of industry, of jobs, of savings, and of society. Surely, it is folly to diagnose the disease and to know the cure but to lack the courage to prescribe or the tenacity to take the medicine."
MARGARET THATCHER, speech to Conservative Trade Unionists, Nov. 1, 1980
Read more at http://www.notable-quotes.com/t/thatcher_margaret_iii.html#fjZkPohSwd77Mlx4.99
If you devalue the dollar by 10% you devalue the value of people's savings by 10%.
"A good chunk of the debt created has been shipped overseas. I remember early in my research I heard this expression that the Americans have exported their inflation. How can you export your inflation? You export your inflation by sending all these dollars you created to these other countries and then they send you their refrigerators and their cars and their TV sets, so you get their hardware, and they get little pieces of paper. It is a great deal for the American people."
Jim Rickards on dollar dumping from 39th minute.
40th minute: dollars coming back, chickens coming home to roost with inflation.
Other countries such as China and Russia currently benefit from this system but they are taking steps to protect themselves waiting for the right moment to dump all their dollars.
What is the UK Treasury doing? Burying its head deeper into the sand.
ISIS is going to sell oil only for gold.
ISIS gold is 21 carat and weighs in at 4.25g.
Actually, this should be found scarier than all the beheading videos put together. These guys HAVE A PLAN, and they are speaking of what is bound to happen - Western economic collapse.
Austrian Economics Is Now Equivalent To Terrorism Thanks To Latest Islamic State "Gold Standard" Propaganda Clip
(1) PC Liberalism/Neoliberalism/Neoconservatism [ONE EXTREME] (2) Secular Koranism [THE MIDDLE WAY] - (3) Anjem Choudary's sharia law [THE OTHER EXTREME]
Hudson learned that monetary theory concerns itself only with wages and consumer prices, not with the inflation of asset prices such as real estate and stocks. He saw that economic theory serves as a cover for the polarization of the world economy between rich and poor. The promises of globalism are a myth. Even left-wing and Marxist economists think of exploitation in terms of wages and are unaware that the main instrument of exploitation is the financial system’s extraction of value into interest payments.