by Jeff Nielson, Bullion Bulls:
Either deliberately or accidentally, most other commentators do not understand how to correctly apply the rules of causality. One of the most common errors in their reasoning is to incorporate ASSUMPTIONS in their reasoning process — but never explicitly acknowledge those assumptions.
The problem, from an analytical standpoint, is that these implicit assumptions — when they are incorrect — sabotage the reasoning process, and any/all conclusions from that reasoning are invalid. Before I get to the current subject of the minimum wage, let me illustrate this point with a different but parallel example: the gold standard.
There are a number of astute commentators who are against the gold standard, even though we already have the confession of one of the leaders of these Financial Criminals that we must have a gold standard.
– Alan Greenspan, 1966
We either have a gold standard, or the central bank criminals will (over time)STEAL ALL OUR WEALTH through the “inflation” of their money-printing.
But the objection of these other commentators isn’t theoretical, it’s practical (at least supposedly). What they observed is that in the final decades of our TRUEgold standard — before the Bretton Woods agreement — that our economies experienced fairly frequent monetary disruptions.
The chain of reasoning flows as follows:
a) We had a gold standard.
b) We experienced monetary disruptions.
c) The gold standard was to blame for those monetary disruptions.
What is the implicit assumption which is left out of this chain of logic? That we had a FREE-MARKET ECONOMIC SYSTEM. It is only in a world of free markets that we could legitimately assume that any “problems” in our monetary system could be attributed to the gold standard itself.
The problem is that we don’t have free-market economies today, and we didn’t have them 100 years ago. In our own era; regular readers are very familiar withthe One Bank, the crime syndicate which rules over us with an iron fist. Among its systemic crimes is the serial/permanent suppression of precious metals prices.
This same crime syndicate already exerted near-complete control over the West a hundred years ago. This is the conclusion of Charles Lindbergh Sr., a career prosecutor and two-term Congressmen, who lived during that era.
The Economic Pinch, pg. 22
These gold-hating bankers had only one obstacle in their way to prevent them from their Holy Grail: stealing-by-inflation, as Greenspan warned us. It was the gold standard itself.
So these banking oligarchs sabotaged the gold standard, at every opportunity. Eventually, enough weak-minded and/or corrupt politicians “blamed” the gold standard for the economic terrorism perpetrated by the One Bank.
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