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Silver Wheaton Corp. Message Board

  • billyteex1 billyteex1 Sep 17, 2013 6:08 PM Flag

    Great points here

    If you want to ever post a link, try the tab "Market pulse". apparently yahoo doesn't want to completely sensor, only slow us down. Back to this little piece I found interesting, hope you do also.

    "The average taxi driver in Buenos Aires understands more about financial mismanagement than the crowd at a conference of Nobel Prize-winning economics professors and central bankers," Marco says.

    Americans have yet to learn these lessons. Ours is a culture still much too trusting of central banks and paper money. Most Americans don't understand what the central bank really does. Or how the banking system functions. They don't get how they are being robbed. They are more likely to blame higher prices on the oil companies or foreigners. They don't see that the cause is the government's money printing. This reminds me of that old line from Henry Ford. If Americans really understood the banking system, they'd revolt.

    (Or as he put it: "It is well enough that people of the nation do not understand our banking and monetary system, for if they did, I believe there would be a revolution before tomorrow morning.")

    The thing is there is more similarity than you might guess between the two the countries. And in some of these comparisons, the U.S. does not come out looking the best. Marco ran some numbers on the debt of both, for example.

    "Debt per capita is about $4,900 in Argentina and $53,000 in the U.S.," Marco begins. "That compares with GDP per capita of about $11,600 in Argentina and $50,000 in the USA. Individual Americans owe almost 11 times as much government debt per capita as individual Argentines. But U.S. GDP per capita is only 4.3 times as much. Now whose government looks irresponsible?"

    Sentiment: Hold

 
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