Cabaret
Deified Money & Loss of Weath
27/May/2009 06:01 Filed in: Weekly
Column
Life is a
Cabaret, Old Chum, Come to the
Cabaret.
If there were a musical refrain that typified life in the developed world and especially the United States during the last quarter century, this concept from the movie “Cabaret” would definitely qualify. From that movie comes the popular song, “Money” featuring the stars Liza Minnelli and Joel Grey and found on YouTube.
More interesting was that this 1972 film was set in the Weimar Republic of Germany in 1931, before the rise to power of the Nazis and Adolph Hitler. Remember that on August 15, 1971 President Nixon closed the gold window removing the convertibility of the dollar to gold and setting off the cheap monetary inflationary growth that brings us to today. That act eventually led to wage and price controls and the reality of the term known as stagflation.
The logic behind the move more than likely was the reality that you can’t fight an unpopular war and keep the folks happy at home at the same time. Whether that reality brought into today will prove a first step to fascism, I will let history, and current pundits of the far left, the far right, and libertarians to discuss, and sell their books.
What really did happen was that the growth of the money supply was removed from the direct reality of the real world and became popular tools for the manipulation of culture by politicians, central banks, and eventually market speculators. The term “There is no free lunch,” did not apply, and as it relates to the growth of money still has not found application.
In the “Money” video, we see at that time the song thought of money in the tangible sense, like coins. As time went on paper script replaced the coin of the realm, and eventually wheelbarrows were required to transport the paper to stores to buy basic necessities. Thank the god Mammon that we have evolved beyond that primitive reality. Now in the twenty-first century we can create money ex nihilo, just like the Creator of the universe created reality. The problem with this money however is that it really has no tangible basis in reality.
Even though money has no basis is in reality that does not mean that there is not a worldwide market for the stuff. Since President Obama revealed his historic economic stimulus plan the dollar has deflated against the Euro by about 11%. This is when news reports from Europe indicate that European economies are in their worst shape in the post war era. That should cause one to wonder if the US economy is that bad compared to Europe, or the positive reverse, or are speculators, both private market and governments, are manipulating the price of the dollar, as is currently the case again with crude oil, where still decreasing oil demand is met with higher prices.
Read More...
If there were a musical refrain that typified life in the developed world and especially the United States during the last quarter century, this concept from the movie “Cabaret” would definitely qualify. From that movie comes the popular song, “Money” featuring the stars Liza Minnelli and Joel Grey and found on YouTube.
More interesting was that this 1972 film was set in the Weimar Republic of Germany in 1931, before the rise to power of the Nazis and Adolph Hitler. Remember that on August 15, 1971 President Nixon closed the gold window removing the convertibility of the dollar to gold and setting off the cheap monetary inflationary growth that brings us to today. That act eventually led to wage and price controls and the reality of the term known as stagflation.
The logic behind the move more than likely was the reality that you can’t fight an unpopular war and keep the folks happy at home at the same time. Whether that reality brought into today will prove a first step to fascism, I will let history, and current pundits of the far left, the far right, and libertarians to discuss, and sell their books.
What really did happen was that the growth of the money supply was removed from the direct reality of the real world and became popular tools for the manipulation of culture by politicians, central banks, and eventually market speculators. The term “There is no free lunch,” did not apply, and as it relates to the growth of money still has not found application.
In the “Money” video, we see at that time the song thought of money in the tangible sense, like coins. As time went on paper script replaced the coin of the realm, and eventually wheelbarrows were required to transport the paper to stores to buy basic necessities. Thank the god Mammon that we have evolved beyond that primitive reality. Now in the twenty-first century we can create money ex nihilo, just like the Creator of the universe created reality. The problem with this money however is that it really has no tangible basis in reality.
Even though money has no basis is in reality that does not mean that there is not a worldwide market for the stuff. Since President Obama revealed his historic economic stimulus plan the dollar has deflated against the Euro by about 11%. This is when news reports from Europe indicate that European economies are in their worst shape in the post war era. That should cause one to wonder if the US economy is that bad compared to Europe, or the positive reverse, or are speculators, both private market and governments, are manipulating the price of the dollar, as is currently the case again with crude oil, where still decreasing oil demand is met with higher prices.
Read More...