Wisdom by Kamin
7 pieces of wisdom
“All currencies will decrease in value and purchasing power over the long term, unless they are freely and fully convertable into gold and that gold is traded freely without restrictions of any kind.”
“Threat of capital controls accelerates marginal capital outflows.”
“Combined total taxation from all levels of government will always increase (until the government is replaced by war or revolution).”
“Government inflation is always worse than statistics indicate: central bankers are biased toward inflation when the money unit is non-convertible, and without gold or silver backing.”
“Purchasing power of currency is always lost far more rapidly than ever regained. (Those who expect even fluctuations in both directions play a losing game.)”
“When attempting to predict and forecast macro-economic moves or economic legislation by a politician, never be misled by what he says; instead watch what he does.”
“Politicians will always inflate when given the opportunity.”