In 2011, one hedge fund manager bought twenty million nickels. Today, all across the U.S., Americans have stacks and stacks of nickels in their basements. What’s going on? And why should you be concerned? Chris Campbell investigates. Read on…
Ready to have your fortune told? Chris Campbell invites the Laissez Faire crew to give their most shocking predictions for 2015. Each one could affect your health, wealth, and happiness. Read on...
If hyperinflation were going to happen in the U.S., it already would have, right? Wrong. Jim Rickards explains the clear reason why the U.S. hasn’t seen hyperinflation… and why it’s still more than possible. Read on…
Something strange and unexplainable happened to Chris Campbell last night. “In the middle of the night,” he writes. “Precisely when things shouldn’t happen. Especially not things like this.” This inexplicable event led him to uncover the most lucrative wealth strategy known to man. So it wasn’t all a wash. Read on…
Are you a deflationist? Or an inflationist? No matter which way you believe the wind will blow, the truth is this: it’s up in the air. But, as Jim Rickards explains, there are things you can do to cover your assets, no matter which one wins the tug-of-war. Read on…
Everyday Americans have good reason to celebrate and fear the recent collapse in oil prices. This is the fastest, steepest decline in oil prices since the mid-1980s. Results are already showing up at the gas pump. The price of regular gasoline has collapsed from almost $4.00 a gallon to $1.99 a gallon in some places. For a driver who uses 50 gallons per week, that’s an extra $100 per week in your pocket. If that new low price sticks, the savings keep coming, and it adds up to a $5,000 per year raise. Best of all, the government can’t tax that $5,000. If you got a pay raise, they would tax it, but if the cost of things you buy is lower, they can’t tax the savings. What’s not to like? Read on to find out.
Smart meters are supposed to be our saving grace. Reduce pollution… reduce blackouts… and keep you and your family safe. The truth, though, is the exact opposite. What’s the true agenda behind smart meters? And why are you being lied to? Read on…
You hear a lot about gold these days. But what about silver? Chris Campbell speaks out about the moon metal with one shocking confession. Read on…
Markets have you spooked? You’re not the only one. In today’s Laissez Faire Today, you’ll hear from three market experts on how to stay safe, no matter what direction the overall market heads. Read on…
Savvy investors: Two experts weigh in on why having your own personal gold standard… and betting that Ebola will get worse… could be your best investment decisions of 2014. Read on…
In December last year, a lot of people were laughing off an inept thief. Not only did Charles Jennings, a cargo worker, quickly get caught — but his $1.5 million haul was snicker-worthy. Who’d want his product? How on earth could he sell the 7,500 pieces — or move them anywhere near that $1.5 million retail price tag? How dumb could he be? Here’s the thing — all the people snickering don’t know what they’re talking about. The $1.5 million stash? On the open market, it could easily be worth twice that. Heck — it could be worth 10 times as much or more. And moving it would be easy.
America has about 4% of the world’s population, yet houses 25% of the world’s incarcerated. What’s going on here? Chris Campbell digs deep into the industry to figure out the truth. While many blame the private prison industry, the real culprit, says Chris, begins right outside your door. Read on…
Bitcoin has been pretty quiet lately. But that doesn’t mean big things aren’t taking place behind-the-scenes for the digital currency. In today’s Laissez Faire Today, Chris Campbell pulls back the curtain and shows you how Bitcoin is quietly slipping into the mainstream. He also shows you why now could be the time to buy now, or forever hold your peace. Read on…
Want to get rich? Don’t listen to financial “gurus,” says Chris Campbell. In today’s Laissez Faire Today, Chris shares a Zen proverb and shows how understanding it is the only real way to get rich (and live a rich life). Read on…
Ben Franklin once said, “An ounce of prevention is worth a pound of cure.” In today’s Laissez Faire Today, you’ll learn about one FREE website that has the potential to not only keep your family safe – but also open your eyes to what’s happening in your own neighborhood. Chris Campbell has all the details. Read on…
Among red wines, two varietals are often latched onto by certain enthusiasts. “I only drink cabs,” or, “I only drink pinots.” Such statements are common surrounding these wines. Pinot noir and cabernet sauvignon: two wines with very different bodies, styles and flavor profiles. In my experience, those who “only” drink one usually cannot relate to those who “only” drink the other. The Hatfields and the McCoys of the wine drinking world.
All over the world, power is dying. The dictators and tyrants of the world are no longer able to wield it like they once used to. And they’re losing it to the “little guy.” Chris Campbell shows you how to be the king of your castle by taking advantage of this fact. Today, you’ll learn how to grab “power gaps” in the market and channel them into your product idea or project. Read on…
The fireflies along the tidal rivers of Malaysia show "feats of synchrony that occur spontaneously, almost as if nature has an eerie yearning for order." Chris Campbell tells you where else this might occur in the world. Also, new technology may revolutionize the agriculture industry and what we think of as a farm.
Jeff Davis is running for Governor in Hawaii and has an interesting campaign strategy. Also, what motivates hackers is revealed and the findings might surprise you. Finally, Ferguson is discussed in a new light. Chris Campbell has more...
The so-called recovery is only built on debt and printed cash declares our own Byron King. In the long term, the only option for the government to continue financing it's operations is to print too many dollars. Money printing has it's limits, however. It's Byron's opinion that at some point, perhaps very soon, the government will have to turn to more desperate measures. Namely, capital controls. In the following featured essay, Byron outlines 4 probably ways the government will take your cash and one play you can buy through your broker to prepare today. Read on...
Last month, when renewing our health insurance, our carrier screwed up, leaving the entire Hill family without dental coverage... Their incompetence, however, opened our eyes to burgeoning alternatives in the health care space. To be specific, we were able to save $88 on our recent dental visit despite not having insurance. And it was all thanks to a little slip of paper that took us five minutes to acquire and cost us nothing.
When’s the best time to invest in something? When everyone else is trying to get their money out of it. It might go against conventional thinking, but following the crowd usually makes you miss the real opportunities. At one monetary metal conference recently, the smartest guys in the industry sat down to discuss where these real hidden gems lay.
In a 2009 article, the Huffington Post went into considerable detail about the number of people with PhD degrees in economics employed by the Board of Governors of the Federal Reserve System. This is the government’s branch of the Federal Reserve. It is not one of the 12 regional Federal Reserve banks, all of which […]
Greetings from Maine! Right now, I’m writing from within foghorn distance of the sea. And this gives me an opportunity to tell you a down east tale that should serve as a warning to every investor: Maine’s Great Gold Swindle.I’m not talking about central banks, or manipulation of today’s markets. I’m talking about something from […]
The U.S. dollar is the dominant global reserve currency. All markets, including stocks, bonds, commodities, and foreign exchange are affected by the value of the dollar.The value of the dollar, in effect, its “price” is determined by interest rates. When the Federal Reserve manipulates interest rates, it is manipulating, and therefore distorting, every market in […]
What’s the single biggest health problem in America? Note that I’m not asking about the most widespread disease. Instead, I’m inquiring about the specific health problem that the largest number of Americans would most dearly love to solve.
Let’s head back in time…In 2004, a mere decade ago, the US national debt rang the register at $7.4 trillion. That represents “debt per citizen” of over $25,000. You, me, your neighbor, your 4-yr old grandson, you name it and they’re portion of the U.S. debt is $25k.But flash forward to today and you’ll see […]
Alexander Hamilton was America’s first Secretary of Treasury under President George Washington. When he first entered office in 1789, America was an agricultural nation of just 4 million still broke from its financially costly victory over the British Empire in the Revolutionary War.The states had accumulated relatively massive debts to finance that war, which mostly […]
Remember that correction we’ve been quietly talking about over the past couple of months?Well, it might be right around the corner. Stocks waited until the last day of the month to nose-dive. The S&P 500 posted its first 2% down day since April — and the Dow wasn’t far behind. Early this morning, futures continue […]
A great technology solves a problem that we didn’t know we had. It makes us aware of deprivations we didn’t know existed until we discover the new thing. Once discovered, we can’t go back.People in the 1950s, for example, never missed the smart phone. They were pleased to have a phone at all. But today, […]
For the last few decades, virtually everyone seems to have agreed that eating beef is a bad idea: bad for the planet, bad for personal health, and bad morally. The problem? Beef haters are wrong on all counts. Beef can be a boon for the planet, extraordinarily healthful, and a highly moral choice.
In early July 1944, delegates from 44 countries gathered at the Mount Washington Hotel in Bretton Woods, New Hampshire. A three-week summit took place, at which a new system was agreed to regulate the international monetary and financial order after the Second World War.The U.S. was already the world’s commercial powerhouse, having eclipsed the British […]
When you type a website address into a browser, you might have noticed that the letters “http” appear at the front. “HTTP” stands for Hypertext Transfer Protocol. In typing a Web address, you are actually sending an HTTP command to transmit that website to you. Hypertext Transfer Protocol is the means by which information is […]
I’ve just left the Liberty Forum in New Hampshire, a three-day gathering of hundreds of people who are trying to find ways of living freer lives in times of despotic control. Among many things, this might be the world center for exhibiting monies of the future.
I leave as the proud owner of three types of nonpaper, nongovernmental monies. They operate in competition with the government’s dollar. Yes, these include Bitcoin, the mind-blowing digital currency that has techno-geeks, edgy global traders, and even the World Bank buzzing about its potential to finally separate money from the state.
Why are people working on alternative forms of money? It’s all about escaping a 100-year-old trend. Back in the day, the dollar was a name for gold, not just a paper ticket manufactured by a government-chartered central bank.
Depression, war, and deliberate debasement have left us with a dollar that is a mere shadow of its former self. It keeps losing value, of course, rather than gaining value as it would in a free market.
Just as critically, the dollar today serves as the enabler of all regulatory control over our economic lives. Using the dollar means dragging a gigantic and burdensome machinery along with you. It means tens of thousands of regulatory controls, government spying, confiscatory taxation, and endless burdens that are bad for businesses and individuals.
Ideally, the dollar would be totally reformed, made good as gold, and restored to its former integrity. How likely is that to happen? The whole idea depends on the wisdom, good will, and public beneficence of the political and elite class of banking moguls.
Is there any wonder that there is a clamor for the private sector to come up with something new? It’s been going on for several decades now, this discovery process we might call “monetary entrepreneurship.”
People in ancient days had to discover the best commodities to get progress beyond mere barter. What would best serve as money: something to acquire not to consume, but to trade for other things to consume? Is it salt? Shells? Silver and gold? Many options are available, and only the best money can win the market competition over time.
Something like this is taking place again today. Government money is risky, carries too much cost, and has an uncertain future to it. People put up with it for convenience and because nothing better seems to present itself.
There is a real opportunity here for monetary entrepreneurs to get to work coming up with something new and letting the markets try it out. Over the last 10 years, governments have shot down a number of experiments in private money that used digital networks to monetize gold and silver. It’s been a brutal job to retain the government’s money monopoly.
Entrepreneurs have learned. New monetary instruments have to protect themselves against government attempts to shoot them down in obvious ways. There are three general ways to do this: back to the basics with precious metals, onward to the future with purely digital money, and some combination of both of these.
My first acquisition is an innovative way to save and spend smaller units of silver. The tiny bars are pretty and clearly mark their weight. Today, each one is worth about $1. In the future they could be worth much more. For daily spending needs for cabs, food, and water, these would work quite well.
It’s true that they are pretty small and might get lost in your pocket. You have to have some pretty nimble fingers to handle them in a hurry. And even young eyes might need reading glasses to discern the weight.
A solution to this problem comes from Shire Silver and entrepreneur Ron Helwig. It’s a simple, but ingenious idea, one he is very anxious to share with others. He takes various strands of gold and silver of many weights and laminates them in a credit-card size monetary instrument.
The result is convenient and easy to carry and spend. He is not the only maker of these cards. Many others are picking up the idea — a fact that makes Mr. Helwig very pleased (he is the last one to attempt to gain a government monopoly through a copyright, patent, or trademark).
Shire Silver cards are commonly accepted all over New Hampshire. But they are in use all over the world. Helwig gets orders from New Zealand, Brazil, and even Japan. Some orders are valued as low as $6, but he receives orders valued at $5,000 too. At the Liberty Forum, he couldn’t keep up with the demand, so he brought his machine to the booth. He even let me make a 1-gram card myself!
Jeffrey Tucker making a Shire Silver card with help from the company’s founder, Ron Helwig.
While I sat at the Shire Silver booth, people were also purchasing cards with Bitcoins. This is the first time I had seen Bitcoins in operation as real money. In fact, most things were available in Bitcoins. Here we have a currency created only in 2009, and already it is making possible global transactions every one or two seconds with someone somewhere in the world.
I downloaded a smartphone application called Blockchain that gave me a wallet of Bitcoins. I’ve been curious about this whole phenomenon, but there is nothing like owning the currency yourself to underscore the point.
I was able to sit and talk with some of the major players in this emergent industry and gain a clearer understanding of what it is and what it is about. As a result, I’m pretty confident that this is the real the thing and has a spectacular future.
I went over to the Bitcoin ATM machine and loaded up while I could. Of course, you can also buy them online (there are many options, but try bitstamp.net or buy them locally from localbitcoins.com), but in person, you can get digits for cash, which is especially nice. The trading relationships between Bitcoin and government currency are always in operation, so there is never a doubt about the value of your portfolio.
A year ago, there were more skeptics than there are today. And this is because the market is expanding. There are websites that accept only Bitcoins, such as Silk Road. I also met many people who are paid their normal salaries almost exclusively in Bitcoins. There are companies planning to go public in Bitcoins, which thereby means completely bypassing the SEC and the whole regulatory apparatus.
As you can see, we are really talking about the emergence of a countereconomy, a free-market universe that runs parallel to the dollar-based economy.
Skeptics say: “But I can’t use any of these monetary instruments to pay rent, buy a car, or get groceries.” Well, that’s because these ideas are all ventures that take time to develop. Money is like any other good: It begins with speculation and goes through a period of gradual adoption until it is universal.
Phones were not universally useful until many people had them. It was the same with email. When I first saw an email address, I thought: That’s the silliest thing ever, because who will even write this guy? Eventually, the network grew and reached the critical mass and the government’s system of mail delivery took a massive hit for the first time ever.
Why wait for monetary reform to come from the top? If the market wants a better-quality money, one that frees markets and makes economic exchange more beneficial, markets will create it out of existing resources and realities. This can even happen when government objects. Government can only defy human desires for so long before people decide that the costs of compliance outweigh the benefits.
The government’s money monopoly is crucial to its control over society. What happens when that comes to an end? Imagine the future.
P.S. If you’re interested in learning more about alternative currencies in history, be sure to check out Good Money by George Selgin. Selgin’s book is a lively tale about how monetary entrepreneurs took it upon themselves to solve the problems caused by the Royal Mint, which failed to meet the needs of a growing economy. Click here to learn more about the book and instantly access an exclusive 20% discount, normally reserved for new members of the Laissez Faire Club. This discount is just one of the benefits Club members enjoy. Members also have instant access to a growing library of e-books covering a wide variety of engaging topics, with a new book being added every other week. New members also receive Laissez Faire Books’ exclusive Economics in One Library, a complete (yet concise) collection of economic ideas that help define the economic reality we find ourselves in… and offer insights into how to protect what you have. To find out more about the Club and whether it’s right for you, click here. ]