Two years before the Great War erupted, Ludwig von Mises published "The Theory of Money and Credit" and handed you the blueprint for understanding the monetary chaos that would follow.
Central banks create the boom-bust cycles that make wars financially possible. The Austrian Business Cycle Theory he laid out in 1912 predicted exactly what happened when European governments abandoned gold convertibility in 1914.
When you expand credit artificially below the natural market rate, you distort the structure of production. Entrepreneurs receive false signals about available savings and start long-term projects that the real economy cannot sustain. Credit expansion creates malinvestment on a massive scale. The war economy of 1914-1918 became the perfect laboratory for his theory: governments inflated their currencies to fund unprecedented military spending while price controls masked the underlying monetary destruction.
The German mark lost 99% of its value between 1914 and 1923. The British pound fell from $4.86 to $3.40 against the dollar during the war years. French politicians doubled their money supply while rationing bread to civilians. Every prediction Mises made about credit expansion played out in real time as European central banks chose inflation over fiscal responsibility.
Easy money always ends in economic crisis. The Federal Reserve, established just one year after his book appeared, has repeated this same cycle of boom and bust for over a century. Central bankers today follow the same playbook that financed the trenches of Verdun and Passchendaele.
Sound money advocates have been watching this monetary suicide for decades. The only question remaining is whether you will learn from Mises before the next inevitable crack-up boom destroys what remains of your purchasing power.
🚨 | Luca Cordero di Montezemolo on the new Ferrari Luce:
"If I said what I really think, I'd harm Ferrari. We're risking the destruction of a myth, I'm very sorry about that. I hope they at least remove the Prancing Horse from that car"
Щеше да стане на 61.
Плътно до своето рамо си ти,
златни нашивки и голи гърди.
С камшик дирижираш грозни деца,
със стиснати зъби те пеят сега:
Ние сме болен продукт
на своето време и вашия труд.
Градски устроени празни съдби,
със смъкнати гащи, навели глави.
От срам.
In days, #Bulgaria's new PM #Radev has captured the security services.
The final piece: counterintelligence. His government installed Radev's former bodyguard - a man with zero intelligence experience - as acting head of DANS.
Sold as "sovereignty." The reality is darker. 🧵
1/7
Само месец управление бе достатъчен на „Прогресивна България“, за да сблъска държавата с куп спорни реформи. За 30 дни новата власт сътвори каши, които вече застрашават икономиката, бизнеса и правовия ред у нас.
Ето "гениалните" им идеи и защо са крачка назад 👇 (1/7)
Срокът, в който депутатите се запознават с докладите на комисията при избор на членове във ВСС, Конституционен съд, Омбудсман, КПК и куп регулатори, се съкращава от 7 на 3 дни.
И никой не говори за това. 🧵
1/10
@MutantFairy_@neportuqua Ползват система и камери на ARRI, гледах филмче за подготовката им. Феноменално филмово качество на живо. А песента, текста ѝ и изпълнението са страхотни. Изключителен професионализъм от всички замесени и особено Дара!
Scientists have confirmed that a family from the small village of Förste in Lower Saxony, Germany, has lived in the same area continuously for nearly three thousand years.
DNA analysis revealed that the ancestors of Manfred Huchthausen lived just two kilometers away in the Lichtenstein Cave. Archaeologists discovered human remains there dating back to around 1000 BC, along with bronze jewelry, animal bones, and evidence of funeral pyres.
Researchers believe these ancient inhabitants of the Harz region were involved in the lucrative salt trade, known as the “white gold” of the Bronze Age.
The director of the local museum noted that the ancient people looked remarkably similar to their modern descendants.
“I always thought our family had been here a long time,” Manfred Huchthausen said with a laugh, “but three thousand years?”
🇧🇬 3 days forever etched in our legacy.
To the million of fans roadside, to those who made pink their color, to those who screamed, who cheered, who cried, we say thank you.
You made history, and we’ll never forgot you 💞
🇧🇬 Tre giorni che resteranno per sempre nella storia.
Ai milioni di tifosi lungo le strade, a chi ha fatto del rosa il proprio colore, a chi ha urlato, esultato e pianto: grazie.
Avete scritto la storia e non vi dimenticheremo mai 💞
#GirodItalia | #VisitBulgaria #VisitSofia #GoToBurgas #VisitPlovdiv