Every gun that is made, every warship launched, every rocket fired signifies in the final sense, a theft from those who hunger and are not fed, those who are cold and are not clothed. This world in arms is not spending money alone. It is spending the sweat of its laborers, the genius of its scientists, the hopes of its children. This is not a way of life at all in any true sense.
- Dwight D. Eisenhower
In show 32 of Dollars and Sense, Darryl Robert Schoon explains how paper money, invented in China, changed when it appeared in the West. In the West, paper money became a conveyer of debt. The bankers' pact with government allowed bankers to profit as governments grew and grew and grew. Now, 300 years later, governments have grown so large, bankers can't collect the debts they owe and the bankers' system of credit and debt is collapsing. In that collapse, lies the freedom of all.
DRSCHOON.COM features the articles of Professor A. E. Fekete of the New Austrian School of Economics, a leading expert on gold and its role in financial markets and the economy.
Waiting for Godot
New Austrian School of Economics
The original title for this article was Timing Hyperinflation with an overlong subtitle The Saga of Unraveling Global Fiat Money Issued on the Strength of Irredeemable Promises of Governments. On second thought I changed it for fear of turning off serious readers suspecting that it was written by a prankster to be released on next April Fool's Day. So the new title Waiting for Godot stands.It obviously calls for an explanation. full article...