Monday, January 04, 2010
This book could not have landed later in my hands. Gold, Freedom, and Free Markets is a compilation of writings by some of the best scholars of the Austrian School of Economics. Already published in 2004 it offers thoughts and opinions that are rarely taught by any university.How could I give it a pass when the subtitle says "Economic Philosophy for Prudent Investors?"
I apologize and will hide another week behind this great book and that 3 feet rack of unread books. Next one will be Murray Rothbard's "America's Great Depression." If you are as curious as me simply click the Amazon buttons below to read some non-mainstream thinking. After all it was linear mainstream thinking combined with the cheapest fiat currencies in history that have led to the greatest crisis since the 1930s, wasn't it?
I promise to come up with an extensive outlook on the global economy in the new year by next week. That is, if I don't forget the gold bull market over these and so many other (mostly history) books. As that outlook will be pretty grim, I nevertheless wish all my readers success in their respective market or industry in 2010.
It could become a watershed year although I think the big political changes may wait another year or two. As I learned 2 weeks ago, no ruling political system has ever survived hyper inflation. And this is how all fiat currencies fared in the past 3 centuries: Within a human's lifespan they had devalued between 90% and 100%. Unbacked Federal Reserve Notes, Euros, Yen, Pounds, Yuan will go the same way. Welcome to revolutionary times.