Tuesday, October 28, 2014

It's Starting: Russians and Chinese Are Ditching the US Dollar and Europeans Are Using Renminbi in Their Reserves

By Simon Black

At present, US dollar accounts for roughly 61% of the world's foreign exchange reserves.

It's still a safe bet for most, not because the currency is actually strong, but because so many others are already so reliant on it.

Between those with reserves in and pegs to the US dollar, many countries have given their allegiance, and now have a vested interest in the health of the currency.

Due to this common interest, a sort of unofficial, involuntary alliance has been formed between them all.

Together, they’re all playing along, pretending that everything is fine. If the dollar collapses, they're all screwed, so they've got to get each other’s backs.

From the throne of the world’s reserve currency, the Federal Reserve, with the power to print the US dollar, feels dangerously omnipotent.

They can get away with just about anything. For now.

Tuesday, October 21, 2014

Police Force Goes on Strike, Residents Pleased

What would happen if the police went on strike?  Would all of your once friendly neighbors become thieves and murderers? 

Or would the peaceful majority quickly begin to self organize to protect one another from the few in their communities who actually are thieves and murderers?

Despite conventional wisdom societies don't actually descend into complete chaos. After all public police forces were not imposed on the populace until the middle of the nineteenth century in the United States and Great Britain.

Monday, October 13, 2014

Myth - T&T Needs Big Government To Redistribute Oil & Gas Wealth

Trinbagonians have been comprehensively convinced by a state funded and controlled school system to believe that the T&T government must comprise a large percentage of the T&T economy to redistribute oil and gas wealth; otherwise T&T's patronage would be siphoned away by foreigners.
Overlooked however is current and historical government energy policy that imposes extremely high barriers to entry on companies wishing to enter the energy space ensuring only large multinationals can participate.