Anyone remember Mogumbo Guru?
Maybe he’s still around, haven’t seen his stuff pop up I don’t remember where I used to run into him but he was always talking about economics. Forecasting financial collapse and preaching to invest in gold and oil. He may well be right about the financial collapse, just taking longer.
Most of what he said didn’t really catch my attention(since it was about investing and I’m too poor for that but), he talked a lot about fiat money. Money that’s not backed by anything real, like us since we ditched the gold standard. He said that every government/society that used fiat money would fail. Specially a democracy, because politicians want to get re-elected and to do so would keep spending money they don’t have (sound familiar?). The republicans who profess to be the keepers of financial responsibility are working hard to prove him correct.
They’ll soon be preaching financial stability again as a way to cut SS, medicatre, and any other aspect of the social net. They’ll conveniently ignore their tax cuts as causing the current problems.
