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| Moderated by: Joe Kelley |
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| Tax | Rating: 
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| Posted: Mon Jun 26th, 2006 02:54 pm |
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1st Post |
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Joe Kelley Administrator
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http://www.lewrockwell.com/bonner/bonner263.html Buck Naked by Bill Bonner China is mopping up liquidity. Is that it? Here: http://www.atimes.com/atimes/China_Business/HE27Cb01.html By comparison, the US national debt stood at $8.4 trillion as of April 13, 2006, or 65% of forecast GDP. About $4.9 trillion of the US national debt is held by the public and $3.5 trillion is held intra-governmentally. US national debt is about 20 times China's on a nominal basis, five times on a purchasing-power-parity basis, almost four times on a debt-to-GDP basis, and 100 times on a per capita basis. US per capita income is about 35 times that of China in 2005, which means each US citizen is carrying almost three times the national debt-to-income ratio as his or her Chinese counterpart. On average, US wages are about 50 times those of China because of higher income disparity in China. China is busy creating wealth. Much can be found on that account. In time, it seems, China will be more powerful than America because: They are busy creating wealth. Knowing how they do it is, perhaps, a worthy effort. The fact is that one must do something or die. Breathing and eating are examples. One spends the tax of expanding the lungs as an investment for the profit of gaining oxygen. Investing is something. Investing in the creation of power is one thing. Reinvesting the power created into creating more power is another thing. Oxygen, blood, and such, is currency. It is a form of money like gold. Unlike gold, however, oxygen and blood are efficient currencies. Gold is good for storage; like the earth is a good place to store oxygen. Oil is a good place to store power and oil makes for a good currency, like blood and oxygen only more costly. One can buy stock in oil. One can buy a barrel of oil. The stock is paper. The barrel of oil is where the power exists. Gold has no power in it. The power of gold is found in between a greedy person’s ears. One can inspire a greedy person to torture and murder with the power in gold and oil. One can also empower oneself with the power to produce one’s own currency. One can mine gold or drill for oil. One can counterfeit paper too; paper that supposes to represent gold, oil, or anything valuable. One can do a few more powerful things: One can turn dollars, gold, oil, stocks, 401K retirement accounts, etc, into a solar panel, for example, and one could then create power from the sun automatically. Just sit there and use your power at liberty. That power from the sun can then be converted into savings (an odd concept) accumulated over time for the eventual exchange of that sun power into another solar panel. In time that power creates another solar panel; and another. In time the person has taxed the sun and spent that profit to a point where an abundance of power is created at the individual home. One can then waste the excess power or use it. One can use the new automatic power flow for making fuel. One can also sell, or give away, the excess power to the neighbor. The neighbor may grow depending upon the gift. Better to exchange the excess, wasted power, for a equitable return of power for power. The neighbor may be inspired to take the excess power for a few measly counterfeit dollars. More savings for the energy producer who has tapped into the power of the sun and therefore more solar panels to exchange with the neighbor or more savings to exchange with the people selling electric powered fuel generators or wind mills or just about anything that taps into nature to keep the power flowing automatically (with a little periodic maintenance). Bla bla bla. I read. I write. The world is upside down when looking through false lenses. Currency is currency. Gold is gold. One empowers and the other does something. I like this one: http://www.perfecteconomy.com/pg-parable-of-perfect-economy.html THE REAL CAUSE OF THE REVOLUTION Benjamin Franklin. "It's quite simple. We have created our own currency." Doing nothing may work. Buying Gold may work. Then again it may be a good idea to invest in something that keeps the valuable stuff flowing. Breathe in. Breathe out. It’s quite simple. I will not send another note to the author of the Buck Naked article as my previous notes have not been answered: Bill Bonner,
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