If Gates really wants to speak to psychological factors, why not say a word on why inflationary monetary policies are employed to begin with? Indeed, if money printing actually created just one iota of wealth, then Emperor Diocletian (whom Paul Krugman looks to for policy advice) would have led Rome into a period of material abundance rather than wreak havoc on a once thriving market economy.
But of course inflation is purposefully resorted to in order to both aid the first receivers of money and create the perception of prosperity. With some prices boosted relative to others, there is the appearance of “feeling richer.” The overall supply of goods hasn’t increased; only the amount of pieces of paper with dead Presidents in circulation. The short term boost in confidence comes at the cost of long term stability as capital is consumed with little savings being accumulated for replenishment. The inevitable bust, as Ludwig von Mises showed, cannot be avoided.
The End of the Monetary System as We Know It (TEOTMSAWKI)
As governments continue to binge on endless servings of liquidity financing, there is little threat to gold’s price in the long term. Short term fluctuations are an inherent feature of a market system based on the ever-changing value judgments of billions. There is no conceivable end in sight to inflating currency supplies. If central banks were to stop inflating the house of cards that is the global banking system would collapse.
The question is where you put your trust? In the promises of highway robbers who climb their way into public office through lies and vicious personal attacks? Or in a commodity that has thousands of years of historical usage to prove its functionality as a means of exchange?
Bill Gates puts his faith in the goodness of scoundrels.
Imitator, Follower and Searching for a Purpose
The fact of the matter about Bill Gates is that he has never innovated. The only thing he has ever done that paid off incredibly well is this: he finnagled his way decades ago into the position of being the sole accepted computer operating system at the very start of the personal computing revolution. Since then he has lived off of having that incredibly powerful position.
He was incredibly slow to realize the power of the internet, he was always second to the party with inferior products like Internet Exploder, Zune and countless other copycat, failed products. He installed a completely insane man to manage Microsoft after he left. And now that he has some extra time on his hands he has decided that a) the planet needs to be depopulated and b) he will use a significant amount of his time and power to help depopulate it.
He is pathetically searching for a purpose. And, since he has no idea how economics works, nor money, as he shows in his interview on gold above, he has decided to make depopulation his purpose as he shows in this awkward, ridiculous speech given at TED where he uses all kinds of incorrect premises such as manmade global warming being real to come up with this unbelievably absurd "mathematical" formula:
CO2 = People x Services x Energy Per Service x CO2 Per Energy Unit.
Then he adds that in order to get CO2 to zero, "probably one of these numbers is going to have to get pretty close to zero." And given that he is spending much of his free time with famous misanthropes such as Ted "A total population of 250-300 million people, a 95% decline from present levels, would be ideal," Turner, it is pretty clear which one will be the top priority.
It's the most absurd premise based on the most absurd assumptions I think I have ever heard in my entire life. And his understanding of gold is just as flawed.
Bill Gates, Warren Buffet and Charlie Munger may have once had some sort of relevance. But, today they are globalist shills pathetically trying to keep an immoral and violence/theft based system alive by which their importance and life's work are tied. The world is leaving them behind... and they will work to enslave it (the Buffet Rule) or genocidally kill it (depopulation through vaccines) if they have to in order to maintain their sense of self-importance.
Buy gold (and diversify it globally as we outline in Getting Your Gold Out Of Dodge), sell MSFT and Berkshire Hathaway and fiat dollars, sit tight and be right. The fact they are all running to CNBS in the last few days must mean they are getting desperate.
The chickens are coming home to roost. Buffet, Munger and Gates are grasping at straws, trying desperately to do their part to keep the debt bomb from exploding. Subscribe today to The Dollar Vigilante for insights into the best ways to protect yourself through denationalizing yourself and your wealth.