Tag Archives: opinion

All that glisters…


All that glisters is not gold… [The merchant of Venice — Act 2 Scene 7]

Finding an article that included a simple link to cryptocurrency in support of my linking sixteenth century Spanish bullion to modern mercantilism and the desire of a sovereign power to maintain authority over what is now its fiat money was difficult. I eventually concluded that I had write my own. Debasement of the currency is the inevitable result of abandoning a monetary standard¹ that limits the money supply (or commodity money), giving credence to Keynesian economics and Modern Monetary Theory (MMT)². Read more of this post

Cryptocurrency bubbles and money


This week on Facebook: Debasement of the coinage was rare in Greek history with the notable exception of Dionysius of Syracuse. The Byzantine economy was assumed to have a sound fiscal policy but in the eleventh century emperor Michael VII earned the nickname “Parapinaces” or “minus a quarter”, because the gold nomisma was debased by that amount but little is made of the continuous debasement of the Roman denarius, The enforced sale of the monasteries failed to solve King Henry VIII’s  financial problems, earning him the nickname ‘old copper nose’ during his great debasement. In a fiat money world debasement by fiscal policy is the norm and has perhaps in part (if not entirely) accounting for the intended use of cryptocurrency as fiat. Read more of this post

Cryptocurrency as fiat


This week on Facebook:   When I wrote Monday’s article in 2011 about fiat money I never had in mind the cryptocurrency in last week’s post, although I was certainly aware that the ravages created by the inflationary effects of fiat money did not protect wealth. Wealth protection only comes to those with the means of investing in things whose rarity increased their value. The rise in the value of cryptocurrency, particularly as a wealth protector (like that of gold), shouldn’t really have come as the surprise it did.  Read more of this post

The rising cryptocurrency


This week on Facebook: My attention was caught yet again by shills offering fantastic returns on a financial investment. It could be harsh perhaps to use the definition of a shill as, an accomplice of a confidence trickster or swindler who poses as a genuine customer to entice or encourage others [SOED]. However, it’s implausible the think that a shill is anything other than, a person who pretends to give an impartial endorsement of something in which they themselves have an interest [SOED]. Of course the term shill, when used in this context and especially in a derogatory sense, is sure to raise a lot of resentment, especially when shills are simply responding to the volatility of an economic cycle that is the inevitable result of a fiscal policy adopted by a public administration. In today’s world the euphemism financial crisis is used to disguise actions taken by the public administration that exacerbate the economic cycle and inevitably fail to provide a stable economy. Read more of this post

Elections: Time for change?


This week on Facebook: Having returned a blank voting form in the recent general election, perhaps the result provided me with a brief moment of schadenfreude in that it brought about party political, and most importantly, electoral anarchy. It also confounded the pundits who are now trying to rationalise the result and the electoral reformists who are trying to capitalise on it. What seems to be lacking in articles on electoral reform is the notion of making members of parliament (MPs) responsible to the whole of their electorate and giving a voice to the increasing rise in the electorate who spoil their voting slip or who withhold their votes completely. Read more of this post

Back to the future?


The 2017 General Election resulted in the following statistic to which caught my attention and an article by a blogger who calls himself Archbishop Cranmer giving it some rational (perhaps there is some significance in choosing the name of a Tudor protestant martyr).  Cranmer’s article on the outcome of the general election votes for Labour provides a right wing take on the statistic crediting Corbyn’s achievement. However, it is a misleading statistic in the sense that while it shows a significant increase in Labour’s vote share at the 2017 general election, as in 2015 the vote swing to Labour over the Conservatives was not enough to win them the election. In the days of a two party state in British politics, Corbyn’s increased vote share would have translated into the election victories achieved by Attlee in 1945 and Blair in 1997. So why didn’t it? Read more of this post

Plus c’est la même chose.


This week on Facebook: There was a General Election in the UK on Thursday and perhaps for the first time in my life I found myself with a real justification for seriously declaring myself to be an Anarchist. I spoilt my postal voting slip on the basis that non of the candidates represented a leader that I would choose to be the next Prime Minister. It seems to me that the commonality shared by all the candidates and especially those who won the election (regardless of their political affiliations) will be increased government debt. Despite their declared political diversity, the party assuming power will inevitably rob Peter to pay Paul. The electorate — certainly on Facebook — thought that it was faced with a choice between conservatism and increased wealth for the few versus socialism and increased wealth for the many, when in my opinion the electorate was faced with the undeclared totalitarianism that both offered at the hustingsRead more of this post

On approaching 80


This week of Facebook: Is pure self-indulgence — a birthday present to myself if you will — I was born on Sunday 21 May 1939 and today I became 78 years old. I shall be 84 and then 89 the next time my birthday falls on a Sunday, which looks about as far ahead as I have planned the crop rotation in my garden.

As a change I have indulged myself with an advance of my own articles (reprises) that didn’t have a social media, political or economic theme. Finding them turned out to be quite difficult but 20012 was a good year for this. Since then I have (perhaps) become increasingly curmudgeonly. I was surprised — although I shouldn’t have been — at the influence of rhyming verse! Read more of this post

On Visiting Myopia


This week on Facebook: I thought the quote that Freedom meant freedom from material want  too difficult to answer although I did try, but notions of freedom and material wants come with such a variance that any general answer would be virtually impossible and any specific answer dependant on how the quote was interpreted. This became apparent from an interesting exchange that developed between Colin and Scott in response to my published article on Monday. Read more of this post

Zero Hours Contracts


This week on Facebook: At one of my monthly pie and a pint meetings with a friend (who is also ex-colleague), experiences in our own families had made us both aware of the difficulty in finding some form of permanent or at least longer term re-employment. This led to the subject of zero hour contracts and my subsequent research into them. For a couple of retired ex-civil servants who remembered the post WWII boom in full employment, the realities confronting those seeking employment in today’s commercial climate were brought home (quite literally) to both of us.  Read more of this post

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The Bulletin

This site was created for members and friends of My Telegraph blog site, but anyone is welcome to comment, and thereafter apply to become an author.

TCWG Short Stories

Join our monthly competition and share story ideas...

The Real Economy

Hello, I’m Ed Conway, Economics Editor of Sky News, and this is my website. Blogposts, stuff about my books and a little bit of music

Public Law for Everyone

Professor Mark Elliott

Bleda

Am I my Brothers keeper?

An Anthology of Short Stories

Selected by other writers

davidgoodwin935

The Short Stories of David Goodwin (Capucin)

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