capital is destructive insofar as new knowledge, new ideas, new technology obliterate the ways of the past
capital is destructive insofar as new knowledge, new ideas, new technology obliterate the ways of the past
I am now thinking the price of crude will stay relatively low in the range $65-$75 that's because OPEC + [Russia] knows I have brought to end both the Jew War in Ukraine and the Jew War in the Levant
Ashkenazi Jews who totally control the USA do not want Americans driving diesel vehicles diesel fuel has 15% more energy than gasoline and diesel engine is 40% more efficient than gasoline engines
I tend to think inflation will stay relatively low 4%-5% in the USA, Europe, all over the world although it is clear it is peaking because I am now acknowledged as the global policymaker
Repeat: an important reason rates cannot go up much because if they do they will bankrupt the US govt which has a gargantuan transfer payments program
I am going to put my son Christophe [age 23] in charge of tech development for the US govt even for the entire world this will drive down inflationary pressures
Annual debt service cost of US govt is now about 20% of US govt hard cash revenue but the US Treasury Department is run by criminals and they will not acknowledge this
2 main reasons for the Ukraine war: 1) reverse Zionism the Ashkenazi Jews have realized Fertile Crescent Zionism is finished 2) get Ukraine, topple Putin regime get Russian oil & natural resources
In the mid 1990s I came up with the concept of "development dictatorship" and the Chinese govt has brilliantly carried out my conceptual model
Most of the important heads of state around the world realize that I now "call the shots" so this means I pretty much rule over the entire world this is pretty cool also amusing
I hope to interview the ambassador of Kazakhstan to the United States this will be interesting I have generally been proven right about Kazakhstan however they need more "development dictatorship"
The criminal/crazy Ashkenazi Jews want to deny energy to Americans but I will put an end to this Americans will be driving diesel vehicles this will be deflationary
Repeat: Ashkenazi Jews do not like the 1st Amendment they want to restrict speech they do not approve of
Repeat: the Christian faith and its tolerance and forgiveness can only be taken so far it will collapse then the force of nature takes over
I am planning to publish all articles in the WAM media in 5 languages [English, Arabic, Spanish, Russian, Chinese Mandarin] this should happen relatively soon
The German Catholics in Bavaria in the 1920s 1930s did not fully realize the Slavs in the East were not their enemies their real enemies were Ashkenazi Jews and Bolshevism so Germans lost the war
It is probably true that Mr Vladimir Putin knew I was right and so he ordered the military incursion into Ukraine and I think he is now committed to "development dictatorship"
I realized recently WWII was mostly about the Jews, not only the Pale of Settlement but also Jews in Western Europe and this war in Ukraine is also about Jews and WWIII will be about Jews
Dec 27, 2023
I'd say it is about 40 years that I've been determined to figure out just what “wealth creation” is exactly, how it is achieved. Probably started earlier than that, but my main focus when I was really young was biology and human biology and the brain. Maybe it was around 1990 or so that I decided that most of “economic science” was not a science at all but a bunch of truisms that seemed pretty reliable and reasonably intelligent.
The more I examined the economics discipline, the more I realized it was mostly garbage, just basically nonsense. I will have to republish my writing on this topic, it is a lot, and then you will see that I am not at all able to say we are anywhere closer to astutely and cleverly managing our “economic affairs” now than we were 40 years ago.
My views do change, but overall I would have to say that the United States of America is destined to become a lot less important – unless we overcome these policy-making challenges.
For example, I am now realizing – and arguing – that unless we do push for the 6 monetary unions in the world, then the United States dollar will certainly decline as the dominant world reserve currency. So this is my latest thinking. We do not have that much time. As my friend Robert Mundell said, it is really only a political decision.
Bretton Woods, where the United States and its currency, is the basis for monetary stability around the world, cannot go on forever. What I see as the main problem is Christianity. What I mean is that empire-building – where raw force is deployed – is really no longer viable. Roman civilization was undermined by Christianity, and it seems that this was inevitable. It was the force of history. Rome had to go down and something more impressive and more powerful had to replace it. The same with the United States of America.
So we had better get on top of the historical trend. The world is going to improve, the barbaric practices that are common today are going to be phased out – totally removed. Yes, the Christian force, which has been in place for several thousand years. I am not sure Islam or Judaism are similar, maybe in some respects they are, but not the main line of thinking.
The most fundamental element of my argument today is that religious thought – and economic science is mostly just another religion – is fading away. We are going to dispense with religion. What we will adopt instead is science and the information business. The PhD in economic science is just another priest.
Allan Meltzer was a great guy, we talked relatively often. He was the historian of the Federal Reserve. He was also the guardian of sound money, he was an inflation hawk, and he and I agreed that any kind of inflation, however minimal, was anathema and very destructive. I cannot remember for how many years we were acquainted, probably at least 20 years, maybe more. He was close friends with Alan Greenspan. Again, what Meltzer and I had in common was that we were both pretty serious. No messing around. The facts, and the truth.
What is obviously distressing is political impositions, coming from Washington DC. Political forces want inflation, but it is the duty of us “real economists” to do what we can to dissuade the big dudes from triggering rampant inflation. They'd love to, mostly they'd love to. This is policy-making in a republic. No one is really all that accountable, no one is really responsible for debacles and failures. The policy-makers just say, “hey we did our best, we are sorry these things sometimes happen.”
He and I were certain that inflation would come – eventually. I was not convinced it was imminent in 2010, in fact I had the impression it was not imminent. And it turned out I was right, while the vast majority of “real economists” had the conviction inflation was going to be rampant and out of control following the nasty downturn in 2007-2008.
Any why wasn't it? My best assessment is that the momentum of growth in world “economic output” was so solid and powerful that it was unlikely to get going with any serious amount of force and power. Right? So that is how we will now manage to overcome the inflation we have now – ensure that global economic growth is solid and going with a powerful momentum.
Anyway, “economic science” is dubious, as I have argued. I was not going to join the priesthood, not a chance. All I did was make a serious effort to understand the realities of “economic science” and it seems Allan Meltzer appreciated that. I will republish the audio recording of this 2010 interview with Allan Meltzer as soon as possible.
