Me, This Time Is Different…
by Simon Black: RED
ALERT: World’s Biggest Gold Storage Company Dumps US Citizens
From Santiago, Chile
By 1789, a
lot of French people were starving. Their economy had long since
deteriorated into a weak, pitiful shell. Decades of unsustainable
spending had left the French treasury depleted. The currency was
being rapidly debased. Food was scarce, and expensive.
famously, though, the French monarchy was dangerously out of touch
with reality, historically enshrined with the quip, Let them
monarchy paid the price for it, eventually losing their heads in
a 1793 execution. But it took the French economy decades to finally
Along the way,
the government tried an experiment: issuing a form of paper money.
It didnt matter to the French politicians that every previous
experiment with paper money in history had been an absolute disaster.
As French Assemblyman
M. Matrineau put it in 1790, Paper money under a despotism
is dangerous. It favors corruption. But in a nation constitutionally
governed, which itself takes care in the emission of its notes [and]
determines their number and use, that danger no longer exists.
This time is different. Were different. Were smarter.
We wont suffer the same fate. TRUST US.
Within a few
years, hyperinflation had taken hold in France. A measure of flour
that sold for two francs in 1790 was selling for 225 francs by 1795.
Everything soared. Carriage hires. Butter. Sugar. Everything.
the French government decided to fix this problem by printing even
more money, doubling the money supply from 7 to 14 billion units
in a six-month period.
measures also failed, the French government imposed every control
in the book price controls, capital controls, information
controls, people controls. They confiscated lands, they filled the
prisons, they waged genocide against their own people.
there are always consequences to entrusting a paper money supply
to a tiny handful of men. The French experiment is but one example.
Our modern fiat experiment will be another.
the rest of the article
© 2013 Sovereign Man
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