Posts Tagged ‘free’

“Free money gets spent and it’s gone.  But free time, USED WISELY, can generate knowledge that can produce for you forever.” -Robert Kiyosaki

“Free learners accomplish both the ordinary and the extraordinary. By unleashing the innate human drive to explore and discover, to build and synthesize—to learn—we ensure a future of both individual fulfillment and collective progress.” -Kerry McDonald

“There is no virtue in being temperate when you are being forced not to indulge. There is no virtue in being charitable when someone is forcing you to give up what is yours. Virtue can be guided by cultural traditions and social institutions, but it cannot be coerced. A virtuous man must also be a free man.” -Alex Salter

“This number (10-year treasury note) is probably the most important number in modern capitalism. It tells us the ‘risk-free’ price of money… which is to say, it tells us the cost of borrowing money, or more abstractly, the price of the future.

The more you borrow today, the more time you will have to take away from tomorrow to pay it back. Eventually, you run out of time… and out of luck.

To put that in more concrete (or wood and plastic) terms, the higher your mortgage rate… the longer you have to work to pay for your house.” -Bill Bonner

“Americans feel squeezed because the cost of rent, medical insurance, and tuition – as well as other basic living expenses – is rising much faster than their wages. This creates very real problems for ordinary people.

By every measure – including stagnating wages and rising costs – things have been going downhill for the American middle class since the early 1970s. August 15, 1971, to be exact. This is the date President Nixon killed the last remnants of the gold standard. Since then, the dollar has been a pure fiat currency.

The rejection of sound money is the primary reason why inflation has eaten up wage growth since the early 1970s – and the primary reason why the cost of living has exploded.

Measured in gold, wages in the U.S. have fallen over 84% since 1971…. Priced in gold, the minimum wage has fallen 87% since 1968. Note that the federal minimum hourly wage was $1.60 in 1968. It’s $7.25 today, or 353% higher in dollar terms. But that $7.25 buys 87% less than $1.60 did back in 1968. That’s the story you won’t hear from the mainstream press.

Inflation follows a clear a pattern of corruption:  In a fiat currency system, the government will invariably print an ever-increasing amount of currency. This makes prices and the cost of living rise faster than wages. The average person feels the pain, but doesn’t understand what’s happening. More people support politicians who promise freebies. In order to pay for the ‘freebies,’ the government prints more money. This creates even more inflation, and the cycle repeats.”

-Nick Giambruno

“This free money machine is the equivalent of adding a zero to all the currency bills and declaring that everyone is ten times wealthier now. But as we’ve seen (and history shows), all that happens is a $5 loaf of bread is repriced to $50.” -Charles Hugh Smith

Free of Cost?

Posted: July 16, 2018 in Money Matters
Tags: , ,

“The cost of ‘free’ is usually expensive.” -P.J. O’Rourke