by AGXIIK, Silver Doctors:
Reading John Mauldin’s Out of the Box article this morning a thought occurred to me. John and I shared an avid interest in astronomy in our younger years, transitioning to the study of Finance; the study of money, when forced to get serious about career choices. Once he opened that observational door, I walked in with my own thoughts regarding the study of money
With a B.S. Degree in Finance, something I vaguely recall my college awarding me in 1975, a memory not exactly certain of that event due to my minor in Beer Pong, it seems to me that the study of Finance was and is solely the study of paper money.
The study of paper money is the study of a false paradigm, a false idol as it were, a creation of people who’s notion of money is fully delusional; a loony tune substitute for real money, the precious coin of the realm for the last 6,000 years. No where was the study of gold and silver ever presented in my 3 years of intermediate and upper division courses needed to garner a sheepskin degree.
Reflecting on sheepskins, the degree was printed on paper. That, in itself, speaks volumes about the decline in the quality of education over the last 70 years. I did enough wool gathering in my 5 college years to get the real thing but that’s another story.
The study of Finance is the study of money, is the study of that byproduct of loony insane people who’re h*ll bent on reprising the same folly as those who tried to build their little worlds of paper money, at last count attempted 800 times, over the last 5,000 years. Einstein ain’t got nuthin on these goofballs. Doing this same thing over and over and expecting different results isn’t just insane. It’s 3 orders of magnitude beyond run-of-the-mill crazy.
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