Very well executed Alasdair, that, and the fact that the interviewer didn't interrupt made it a pleasure to listen to. It could have been only last month let alone 2 years ago. Just shows how close you were to calling it. Top marks👏🏻👏🏻
MItch - Very well said ( got it in a nutshell ) . My only very minor quibble is that what Alasdair conveyed to his audience has with the passage of time - in fact got vastly more relevance and
' import ' than even so short a time as just . two year's ago
Alasdair : Fascinating- so much so that I've had to watch it 3 x over . Very much a ' Master Class ' for those with ears to hear , mind's that can fully understand and fully evaluate everything that you were essentially teaching them ( in all probability for the first time where many were possibly concerned ) , and hopefully mind's with a desire to further research the financial / monetary history that was being presented to them . Doubtless most of your IMF / IEO audience were comparative ' Youngsters ' and product's of a university system where their alleged education has had more to do with indoctrination and group think - than it has to do with ' critical thinking ' and questioning the narrative that as fed to them by their faculty ( especially if any were taught by a ' Krugmann Clone ' ..!! ) . My observation may appear somewhat un-kind and mean spirited , and I for sure hope that there were some among them who were followers of Von Mises and the ' Austrian School ' - but I wonder just how many ..?? .
My ear's pricked up near the end when ' Nicoletta ' mentioned the " Upside Down Pyramid "
of John Exter fame and I started to wonder ( hope ) how much she and her fellow participant's truly knew about John Law , his ' Bubble ' , the Livre - and of course Richard Cantillon + many other major historical financial figures from eon's ago .
I sincerely hope that a lot of them will have grasped the sense , simplicity , viability and above all the honesty of re-adopting an official Gold / Coin standard - and recognise the blindingly obvious where the future is concerned .. Namely - that never again should a financialised currency of a single nation ever be allowed to become the world's reserve currency . John Connolly's comment per -
" The Dollar's our currency - but it's your problem " ring's oh so true . No global hegemon
should ever again be in a position to weaponize their currency against everyone else . The foundations
of the " Exorbitant Privilege " were laid back in 1913 with the throttle pedal to the impending global
financial collapse being pressed to the floor i n 1971 ..etc , so why is it that the vast majority of market pundits still describe the ' Nixon Shock ' as the time from when the $ - USD stopped being backed by Gold ( due to the speculator's as reasoned by ' Tricky Dicky ' , ho - ho ) , rather than it simply being calling the straight up ' Default ' which it so plainly was ..?? .
Your illustration of how during the 1800's - 1900's over a period of 100 years or so the £-Sterling
actually experienced a mild deflation courtesy of Gold over this extended period , and the much more recent fact that Oil priced in Gold is cheaper now in comparative terms than it was in the 1950's - as opposed to the wild swings ( almost all upwards ) when priced in USD - Fiat over the same time frame should have ( & did ) nailed it once & for all in favour of ' Legal Money '- Gold & nothing else .
Another shining example of a ' Macleod Tour de Force ' if there ever was one .....Bravo ....!!
It was almost certain that somebody would bring up ' BTC ' as a potential alternative to Gold - so I hope that every attendee took on board the sheer stupidity of anyone attempting to use anything as mega - volatile as ' BTC ' to back anything when assured stability is a vital pre-requisite + there's obviously the ( semi-invisible to so many ) - ' Elephant in the Room ' which is ' Tether ' the well known un-stable ' Stable Coin ' ( contradiction in terms surely ) , which appears to lack any tangible backing what so ever - and which in its operation resembles the good ship ' Q.E. ' with Captain Ben Bernanke at the helm ( showing all the skills he learnt at the knee of the Master of the Titanic ) - No ..??
A good judgement, backed by good old fashioned scholarship, has by nature a long shelf life. It it were within my remit, which it ain't, I would put forward Alasdair Macleod for the Nobel Prize. Though on reflection, this tribute to excellence has been depreciating even faster than the the dollar, so it may not be such a compliment after all. As some proto-capitalist not so long ago, 50 years or so, sighed with chagrin:"a million dollars ain't what it used to be", especially now that new unit of measure runs in the trillions. Time flies.
Since we are in an Olympic year, maybe Alasdair could be awarded a Gold medal or a golden crown of laurel, with the proviso that it not be handed over by the current French president and the ensuing kiss of death. Personally, having just re-read Lenin's Imperialism the last stage of Capitalism, I would award him a Golden Lenin, equivalent to his weight in AU, like the Agha Khan, which would hardly dent the current Russian reserves of the metal, and would be a fitting tribute as that short prophetic piece, written in 1916, is as much relevant today as it was then. With the simple contextual adjustment that Imperialism in the current crisis has morphed into the "Exterminism" stage. So, at least on the causes, if not, of course, on the proposed remedies, Alasdair shares some common ground with the Marxist-Leninist analysis. You can stifle and besmirch good ideas, but nothing can stop an idea whose time has come. The iron law of dialectics. The dollar, the fake dollar, which allowed America to conquer the world has now become its Achilles heal!
100% agree in relation to your comments vis-a-vis Mr Macleod. Alasdair could run rings around so many of the current western Treasury goofs we have today. Trouble is, that the Treasury goofs know it, therefore try not to draw attention to it incase someone asks them an off the cuff direct question. That would really show how much they truly do know or not as the case may be!
Reginald : Your eloquence and ability to outline and convey your message in such frankly beautiful terms , is quite sublime and essentially peerless . Your reference to ' Lenin ' and his writings of 2016 has encouraged me to set about re-reading this soonest . Superb commentary
1916, not 2016. Lenin was embalmed, not cryogenically pickled like Walt Disney. Though I understand the communists believe in a better future, they don't in a "second coming", which is the Western version of the Papuan "cargo cult" prevailing in a large chunk of the Yankee populace and some small part of the Middle East.
Very well executed Alasdair, that, and the fact that the interviewer didn't interrupt made it a pleasure to listen to. It could have been only last month let alone 2 years ago. Just shows how close you were to calling it. Top marks👏🏻👏🏻
Simon Gedye . 26th March .
MItch - Very well said ( got it in a nutshell ) . My only very minor quibble is that what Alasdair conveyed to his audience has with the passage of time - in fact got vastly more relevance and
' import ' than even so short a time as just . two year's ago
Simon Gedye - 28th March
Alasdair : Fascinating- so much so that I've had to watch it 3 x over . Very much a ' Master Class ' for those with ears to hear , mind's that can fully understand and fully evaluate everything that you were essentially teaching them ( in all probability for the first time where many were possibly concerned ) , and hopefully mind's with a desire to further research the financial / monetary history that was being presented to them . Doubtless most of your IMF / IEO audience were comparative ' Youngsters ' and product's of a university system where their alleged education has had more to do with indoctrination and group think - than it has to do with ' critical thinking ' and questioning the narrative that as fed to them by their faculty ( especially if any were taught by a ' Krugmann Clone ' ..!! ) . My observation may appear somewhat un-kind and mean spirited , and I for sure hope that there were some among them who were followers of Von Mises and the ' Austrian School ' - but I wonder just how many ..?? .
My ear's pricked up near the end when ' Nicoletta ' mentioned the " Upside Down Pyramid "
of John Exter fame and I started to wonder ( hope ) how much she and her fellow participant's truly knew about John Law , his ' Bubble ' , the Livre - and of course Richard Cantillon + many other major historical financial figures from eon's ago .
I sincerely hope that a lot of them will have grasped the sense , simplicity , viability and above all the honesty of re-adopting an official Gold / Coin standard - and recognise the blindingly obvious where the future is concerned .. Namely - that never again should a financialised currency of a single nation ever be allowed to become the world's reserve currency . John Connolly's comment per -
" The Dollar's our currency - but it's your problem " ring's oh so true . No global hegemon
should ever again be in a position to weaponize their currency against everyone else . The foundations
of the " Exorbitant Privilege " were laid back in 1913 with the throttle pedal to the impending global
financial collapse being pressed to the floor i n 1971 ..etc , so why is it that the vast majority of market pundits still describe the ' Nixon Shock ' as the time from when the $ - USD stopped being backed by Gold ( due to the speculator's as reasoned by ' Tricky Dicky ' , ho - ho ) , rather than it simply being calling the straight up ' Default ' which it so plainly was ..?? .
Your illustration of how during the 1800's - 1900's over a period of 100 years or so the £-Sterling
actually experienced a mild deflation courtesy of Gold over this extended period , and the much more recent fact that Oil priced in Gold is cheaper now in comparative terms than it was in the 1950's - as opposed to the wild swings ( almost all upwards ) when priced in USD - Fiat over the same time frame should have ( & did ) nailed it once & for all in favour of ' Legal Money '- Gold & nothing else .
Another shining example of a ' Macleod Tour de Force ' if there ever was one .....Bravo ....!!
It was almost certain that somebody would bring up ' BTC ' as a potential alternative to Gold - so I hope that every attendee took on board the sheer stupidity of anyone attempting to use anything as mega - volatile as ' BTC ' to back anything when assured stability is a vital pre-requisite + there's obviously the ( semi-invisible to so many ) - ' Elephant in the Room ' which is ' Tether ' the well known un-stable ' Stable Coin ' ( contradiction in terms surely ) , which appears to lack any tangible backing what so ever - and which in its operation resembles the good ship ' Q.E. ' with Captain Ben Bernanke at the helm ( showing all the skills he learnt at the knee of the Master of the Titanic ) - No ..??
A good judgement, backed by good old fashioned scholarship, has by nature a long shelf life. It it were within my remit, which it ain't, I would put forward Alasdair Macleod for the Nobel Prize. Though on reflection, this tribute to excellence has been depreciating even faster than the the dollar, so it may not be such a compliment after all. As some proto-capitalist not so long ago, 50 years or so, sighed with chagrin:"a million dollars ain't what it used to be", especially now that new unit of measure runs in the trillions. Time flies.
Since we are in an Olympic year, maybe Alasdair could be awarded a Gold medal or a golden crown of laurel, with the proviso that it not be handed over by the current French president and the ensuing kiss of death. Personally, having just re-read Lenin's Imperialism the last stage of Capitalism, I would award him a Golden Lenin, equivalent to his weight in AU, like the Agha Khan, which would hardly dent the current Russian reserves of the metal, and would be a fitting tribute as that short prophetic piece, written in 1916, is as much relevant today as it was then. With the simple contextual adjustment that Imperialism in the current crisis has morphed into the "Exterminism" stage. So, at least on the causes, if not, of course, on the proposed remedies, Alasdair shares some common ground with the Marxist-Leninist analysis. You can stifle and besmirch good ideas, but nothing can stop an idea whose time has come. The iron law of dialectics. The dollar, the fake dollar, which allowed America to conquer the world has now become its Achilles heal!
100% agree in relation to your comments vis-a-vis Mr Macleod. Alasdair could run rings around so many of the current western Treasury goofs we have today. Trouble is, that the Treasury goofs know it, therefore try not to draw attention to it incase someone asks them an off the cuff direct question. That would really show how much they truly do know or not as the case may be!
Simon Gedye . 26th March .
Reginald : Your eloquence and ability to outline and convey your message in such frankly beautiful terms , is quite sublime and essentially peerless . Your reference to ' Lenin ' and his writings of 2016 has encouraged me to set about re-reading this soonest . Superb commentary
1916, not 2016. Lenin was embalmed, not cryogenically pickled like Walt Disney. Though I understand the communists believe in a better future, they don't in a "second coming", which is the Western version of the Papuan "cargo cult" prevailing in a large chunk of the Yankee populace and some small part of the Middle East.
Simon Gedye - 27th March .
YES , Quite so , it was 1916 ( which I was fully aware of ) . I can only think that
I must have inadvertently clouted the wrong key - simply another case of ,
' The Curse of The Sausage Finger ' . I'll make sure to be more careful next time ..etc .