And George Soros who manipulated to bring down the British pound is now endeavoring the greatest coup of his career, the takedown of the dollar.

In Master Yoda inflection, it is time to unlearn what you have learned. Hmmm. That economics book you learned from was full of excrement. Learn from some of the Austrian economists.

Perhaps, but it was the dollar that propped up the British pound for a very long time. Both the dollar and the euro are about to take a massive tumble when the Middle Easterners and particularly the Chinese no longer accept the dollar as the reserve currency. The Chinese economy is already as big as ours. Are you looking forward to trading in yuan yet? By 2030, the dollar's value will be at a "new normal". The British pound is not worth what it used to be either.

Most economics courses are taught by Keynesians, all of whom buy totally into a Federal Reserve system that seeks to enslave individuals and entire countries in debt by loaning them money literally made out of thin air and then having the nerve to charge interest on money that does not exist before it is lent to you.

"The Creature from Jekyll Island by G. Edward Griffin so that you learn how the Federal Reserve system works"
I think I know the basics from my one undergrad economics course, but I just requested the book from the library.

"There will soon be a time when the dollar is no longer the reserve currency. That time is coming soon. When it does, oh s***!"
It will be like when UK went from empire to ex-empire. In other words, US will still be a thriving place, but just not host the reserve currency of the world.

We can value money in an unstable currency and have been for a long time. That doesn't mean that we have to like it or approve of it.

Circuit Guy, please read The Creature from Jekyll Island by G. Edward Griffin so that you learn how the Federal Reserve system works (for the looters and borrowers and against producers and savers).

There will soon be a time when the dollar is no longer the reserve currency. That time is coming soon. When it does, oh s***!

"the monopoly money argument is valid"
The monopoly is either a vague comment, a red herring, or an argument that I completely miss. I don't see any argument whatsoever. It's throwing up our hands and saying we cannot value a business b/c it deals in some unstable currency, which is the reserve currency of the world. It's nonsense. I don't even understand enough of what's being said to refute it. It sounds like a case of psychological depression expressed through a business claim. It may be something to complicated to express in a paragraph.

"note the price. "
Right, but we're valuing businesses. So we have to note the price they charge and not the prices they pay. We're looking for profit with respect to overall prices.

Along with noticing how much the grocer charges me, I also need to notice the mechanic, my employees, and what rate *my wife and I are able to bill* without loosing clients. It's not just about other people's prices.

The notion that people would buy businesses without paying attention to the basics is silly. Of course you look at revenue, expenses, and profits. You look at the value of the assets the business has b/c it's those assets plus their secret sauce (or so called "unfair advantage) that generate profit, and you use profit and growth in profit to work out a valuation. I'm not an expert in this, but I know enough to know there are good models to work out the value of a business.

jbrenner, did you check out the web site for the Texas Nationalists?

Amen!

well we are doing it every day as the value in our bank accounts goes down. here's a test. buy beef today. note the price. buy beef in 2 weeks. note the price. the cereal your kids are eating? note the ounces in the general size box you purchase. in 6 months let's do it again. did the size of the general box you purchase go do down in ounces as the price increased? toilet paper is another staple which changes all the time. who is doing the shopping in your house? your produce has gone up 30% in the last year. it's not just the california central valley drought. pay attention!

While a lot of things are better than they were in this generation than > 50 years ago, the monopoly money argument is valid. The government is making up $80 billion, or $80000 million per MONTH out of thin air. If you divide that by 330 million people, that is $250 per person per month that is just being made up. It is like hitting "free parking" in the bastardized version of Monopoly.

I consider the notion that you can't work out a valuation for a business b/c their customers and vendors trade in USDs to be patently absurd.

Believe me, I know. We are getting old too! But we have to do what we have to do. We all feel the need to pursue freedom, and that gives us purpose (and life). I'm 61 and retired (Electrical wholesale distributor past owner and went to school for electrical engineering) but I work for all the dreams and desires of my heart. Honest money, and freedom are at the top of my list, just under pleasing God, (and my wife).

Regarding the business incubator / hotel and the number of Gulchers > 50 (other than me), I agree.

The fact that we have to fight this battle continuously is part of the problem. The battle is getting old.

Among those who want a new start in a Gulch, many of them would find that some of what made them miserable, angry, and depressed was actually inside them, and they'd find it follows them to the Gulch. It's one issue for the Gulch. People are of course free to be depressed, but at first there needs to be critical mass of people getting stuff done to make the Gulch sustainable.

" It seems that a large number of gulchers are over the 50 mark. We would need a dynamic society to continue to perpetuate these ideals so they too do not perish with us."
Yes! That's why I think the Gulch should be a business incubator / hotel. The incubator would have a lot of startups with many young people, people who don't mind limited space and a stint of separation from friends and family..

"Space is a lot harsher than most people give it credit for. "
I know. I wish it were more like typical space operas. The first Gulches will be on earth.

More propaganda by CG

More propaganda by CG

More propaganda by CG

*I reject the vague comment about monopoly money*
GODS HAIRY BALLS

Look up the numbers for almost anything undesirable in human history: domestic violence, chance of dying young of a disease, the cost of getting your opinion published, the cost of going to a library to look up facts, median income, chance of being a murder victim, freedom from being judged by a group identity, ability to travel, rejection of cruelty (animal cruelty, jokes about rape or violence), amount of living space per person, # of people solving their problems by dueling, output per hour worked, the difference in technology and opportunities from one generation to the next.

I reject the vague comment about monopoly money and anything that suggests there's no objective way to value a business based on its financials, industry, management team, etc

Valuing a businesses is important but trivial compared to the value of the progress humankind. At least for the moment, a lot of that progress happens in the US. People move fast and break things here. Facebook and Google were started here, and they've revolutionized the whole world of marketing, i.e. helping producers and consumers find one another.