I was wandering the web and came across a piece written by Larry Hannigan in 1971. Given the current financial climate, it’s important that everyone take some time to read I Want The Earth Plus 5%. If those of you in developed countries have ever been bothered by thoughts of the economic disparities in the world, then this will help to explain some of it. If you’ve ever come to the reaslisation that if all of the things you bought were actually made in your country, you wouldn’t be able to afford them, then this is for you. If you’re in the US and trying to protect yourself from the oncoming economic collapse, read this and remember that buying gold is ultimately exchanging your money for the coins in the vault.
I’ve never really understood the complexities of broad financial policies and the role of central banks. The idea of countries being indebted to vague organizations like the world bank always seemed a little off to me. Now I am starting to understand. I Want The Earth Plus 5% will not make you a economic expert by any stretch, but if you don’t understand why central bank reserves exist and how they work, this is as good an introduction as I’ve ever read anywhere. The overall website seems a little out there, but this article really did speak to me about something that I had a strange gut feeling about for many, many years.
economics
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3 responses so far ↓
1 Ling // May 13, 2008 at 2:35 am
The problem with the U.S. is that the globalization chickens are coming home to roost. China, India, Brazil and other exporters are getting good at the imperialistic game, and the U.S. has given up competing. It’s like a transfer of accumulated wealth is flowing out of the U.S. because people want cheap goods without having to work for it. No way is this good, any way you look at it.
2 Top Rated // May 16, 2008 at 11:03 pm
The “Golden Rule” . . . he who has the gold makes the rules. I forget where I heard that from, but it does semm to fit here. It is a bit of a mess isn’t it. The real question is . . . how does it get fixed?
3 Bluetooth GPS // Jul 8, 2008 at 5:31 am
Wow what a wonderful piece of information. I have bookmarked the article I want the earth Plus 5%. The laungage used is easy and concise indeed! Barter was replaced by gold coind known as dollars and after that the financial world has evolved tremendously.