Category: Journal of a Wayward Philosopher

A Golden Reset?

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Journal of a Wayward Philosopher
A Golden Reset?

April 15, 2016
Hot Springs, VA

“I believe that banking institutions are more dangerous to our liberties than standing armies. If the American people ever allow private banks to control the issue of their currency, first by inflation, then by deflation, the banks and corporations that will grow up around them will deprive the people of all property until their children wake-up homeless on the continent their fathers conquered. The issuing power should be taken from the banks and restored to the people, to whom it properly belongs.” –Thomas Jefferson

The S&P closed out Thursday at $2,082. Gold closed at $1,226 per ounce. Crude Oil closed at $41.50 per barrel, and the 10-year Treasury rate closed at 1.78%. Bitcoin is trading around $430 per BTC today.

Dear Journal,

Last week we examined a potential path to the Great Reset triggered by the global adoption of negative interest rate policies (NIRP). The entry was not just speculation, however, but it was prompted by a report outlining a meeting in Manhattan between some major players in the world of finance and a source sitting at the nexus between government policy and the financial industry.

This meeting was not about the possibility of negative interest rates in the U.S., however. The unnamed source assumed NIRP was already baked into the cake. According to him it was not a matter of ‘if’, but ‘when’. Continue reading “A Golden Reset?”

The Path to the Great Reset

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Journal of a Wayward Philosopher
The Path to the Great Reset

April 6, 2016
Hot Springs, VA

But if government manages to establish paper tickets or bank credit as money, as equivalent to gold grams or ounces, then the government, as dominant money-supplier, becomes free to create money costlessly and at will. As a result, this ‘inflation’ of the money supply destroys the value of the dollar or pound, drives up prices, cripples economic calculation, and hobbles and seriously damages the workings of the market economy.
–Murray Rothbard

The S&P closed out Tuesday at $2,045. Gold closed at $1,229 per ounce. Crude Oil closed at $35.89 per barrel, and the 10-year Treasury rate closed at 1.78%. Bitcoin is trading around $423 per BTC today.

Dear Journal,

I began writing a book titled The Individual is Rising back in 2013. The first edition was published in the summer of 2014, and then the updated, expanded, and revised second edition was published in August of 2015.

The central thesis of the book was that a financial “Great Reset” was on the horizon specifically due to the gross abuse and mismanagement of the monetary system that grew progressively more blatant over the course of the past century. Continue reading “The Path to the Great Reset”

Of Life and Entropy

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Journal of a Wayward Philosopher
Of Life and Entropy

March 23, 2016
Hot Springs, VA

“Everything that is really great and inspiring is created by the individual who can labor in freedom.”
–Albert Einstein

The S&P closed out Tuesday at $2,049. Gold closed at $1,248 per ounce. Crude Oil closed at $41.22 per barrel, and the 10-year Treasury rate closed at 1.94%. Bitcoin is trading around $415 per BTC today.

Dear Journal,

For all of recorded history man has pondered the meaning of life.

I remember grappling with the question myself as a youngster a few short decades ago. Back then I was fully immersed in institutionalized society. That is to say, the majority of my time and energy was spent satisfying the demands and requirements of institutions – a public school in my case. Continue reading “Of Life and Entropy”

The Majesty of Mindfulness

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Journal of a Wayward Philosopher
The Majesty of Mindfulness

March 11, 2016
Hot Springs, VA

“What if you could be more than you ever thought you could be? To be better than you thought you could be? Would you do it?”
– Paul Rosenberg, A Lodging of Wayfaring Men

The S&P closed out Thursday at $1,989. Gold closed at $1,273 per ounce. Crude Oil closed at $37.84 per barrel, and the 10-year Treasury rate closed at 1.93%. Bitcoin is trading around $412 per BTC today.

Dear Journal,

The 2016 presidential election cycle is now in full-force here in the United States. The yard signs are out, the politicians are demagoguing, the talking heads are raving, and the neighbors are arguing.

“We need a socialist in office!”, some say. “We need to stick it to the Chinese!”, say others. “We need a knowledgeable leader who can get things done!”, others chime in. “We need more irish creme in my coffee!”, says I.

In my view, politics is a distraction for individuals at the micro level and the bane of human civilization at the macro level. Politics runs on fear, anger, hatred, envy, and intolerance – the emotions that bring out the absolute worst in people. Continue reading “The Majesty of Mindfulness”

Implications of Information Age Technology

submitted by jwithrow.
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Journal of a Wayward Philosopher
Implications of Information Age Technology

March 2, 2016
Hot Springs, VA

“You never change things by fighting the existing reality. To change something, build a new model that makes the existing model obsolete.”
– R. Buckminster Fuller

The S&P closed out Tuesday at $1,978. Gold closed at $1,231 per ounce. Crude Oil closed at $34.40 per barrel, and the 10-year Treasury rate closed at 1.74%. Bitcoin is trading around $429 per BTC today.

Dear Journal,

Last week we examined the rise of the Information Age, and we suggested that the transition is still in its infancy. We also suggested that, like all inevitable changes, the Information Age comes to us bearing both positives and negatives.

Today I want to examine those positives and negatives. I do not have a list to present to you, however – that would be too generalized and boring. Instead, I am going to speak from my personal observations and experiences so this entry will inevitably miss as much as it conveys.

I had the good fortune of growing up during the 80’s and 90’s which, as it turns out, was the bridge between the Industrial Age and the Information Age. Continue reading “Implications of Information Age Technology”

The Rise of the Information Age

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Journal of a Wayward Philosopher
The Rise of the Information Age

February 23, 2016
Hot Springs, VA

“If nature has made any one thing less susceptible than all others of exclusive property, it is the action of the thinking power called an idea, which an individual may exclusively possess as long as he keeps it to himself; but the moment it is divulged, it forces itself into the possession of everyone, and the receiver cannot dispossess himself of it. That ideas should freely spread from one to another over the globe, for the moral and mutual instruction of man, and improvement of his condition, seems to have been peculiarly and benevolently designed by nature, when she made them, like fire, expansible over all space, without lessening their density at any point, and like the air in which we breathe, move, and have our physical being, incapable of confinement or exclusive appropriation.”
-Thomas Jefferson

The S&P closed out Monday at $1,945. Gold closed at $1,208 per ounce. Crude Oil closed at $33.30 per barrel, and the 10-year Treasury rate closed at 1.77%. Bitcoin is trading around $423 per BTC today.

Dear Journal,

The world has undergone a massive change over the past several decades… The type of change from which there is no return.

This change has been the transition from the Industrial Age to the Information Age. A transition which is still in its infancy.

The Industrial Revolution, which began in the mid-18th century, lifted more than a billion people from the shackles of poverty… Raised standards of living exponentially… And created the world in which we live today.

Even people of the most modest means in the developed world today enjoy far more comforts and luxuries than the wealthiest kings and nobles of the pre-industrialist era. Continue reading “The Rise of the Information Age”

Trees Don’t Grow to the Sky: the Fallacy of Keynesian Economics

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Journal of a Wayward Philosopher
Trees Don’t Grow to the Sky: The Fallacy of Keynesian Economics

February 16, 2016
Hot Springs, VA

“There is no means of avoiding a final collapse of a boom brought about by credit expansion. The alternative is only whether the crisis should come sooner as a result of a voluntary abandonment of further credit expansion or later as a final and total catastrophe of the currency system involved.”
-Ludwig von Mises

The S&P closed out Friday at $1,858. Gold closed at $1,239 per ounce. Crude Oil closed at $29.44 per barrel, and the 10-year Treasury rate closed at 1.64%. Bitcoin is trading around $405 per BTC today.

Dear Journal,

The snow has returned to the mountains of Virginia with another eight inches gracefully covering the ground. As winter continues to play out here on the home front, I can’t help but notice winter settling in over the financial markets as well. I expect the last three quarters of 2016 to be especially volatile.

Simply tracking the brief market updates in this journal series tells the basic story and highlights the budding trends. My last entry of 2015 observed the S&P comfortably perched at $2,056 while gold was safely out-of-sight at $1,068 per ounce. Crude oil was trading at $36.81 and the 10-year Treasury rate was 2.23%. A week later the S&P was slightly down while gold, oil, and the 10-year rate were slightly up. The following week the S&P had continued to fall to $1,938 while gold continued to rise to $1,085. Oil plummeted again to $30.44 and the 10-year rate fell to 2.10%.

These trends have continued week-after-week for the first two months of 2016. Today, the S&P is down 10% from its December high. Gold is up 15%, oil is down 24%, and the 10-year Treasury rate is down 28% over this same time period. This crude analysis very clearly demonstrates that capital is fleeing the U.S. equity markets and flowing into gold and U.S. Treasuries which are considered safe-haven assets. Meanwhile, we are seeing 12-year lows in crude oil and all-time lows in U.S. shale oil and gas companies.

Expanding our gaze a bit: we are seeing new 52-week lows in the major stock markets of Europe and Japan as well. European banks are particularly troubling as those stocks have fallen more to start 2016 than they did to start 2008. Further, we are seeing six-year lows in junk bonds as well as emerging markets.

All of this is occurring while the Federal Reserve proclaims the economy healthy and ready for “normalization” policies. But what is normal? Continue reading “Trees Don’t Grow to the Sky: the Fallacy of Keynesian Economics”

America’s Last Statesman

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Journal of a Wayward Philosopher
America’s Last Statesman

February 5, 2016
Hot Springs, VA

“The #1 responsibility for each of us is to change ourselves with hope
that others will follow. This is of greater importance than working on
changing the government; that is secondary to promoting a virtuous
society. If we can achieve this, then the government will change. The
best chance for achieving peace and prosperity, for the maximum number of people world-wide, is to pursue the cause of Liberty.”
-Dr. Ron Paul

The S&P closed out Thursday at $1,915. Gold closed at $1,157 per ounce. Crude Oil closed at $31.72 per barrel, and the 10-year Treasury rate closed at 1.86%. Bitcoin is trading around $388 per BTC today.

Dear Journal,

Most of the snow has finally melted here in the mountains of Virginia with only intermittent white patches left dotting the landscape. Having been covered for more than a week, the revealed ground appears saturated, muddy, and grimy – much like the current election cycle here in the U.S.

After ignoring the circus entirely for four months, I did tune in to a portion of last week’s GOP debate. I was primarily interested in observing Rand Paul as he seemed to move back towards advocating Liberty, having failed to adequately pander to the Straussian neoconservatives who have come to dominate the Republican party.

After distancing himself from his old man throughout his campaign, Rand even invited three-time presidential candidate Ron Paul to help rally supporters on the campaign trail in Iowa. Ron’s arrival was reportedly greeted by students chanting “End the Fed!”, which I must admit triggered heavy nostalgia within me. Continue reading “America’s Last Statesman”

Reworking Higher Education

submitted by jwithrow.
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Journal of a Wayward Philosopher
Reworking Higher Education

January 26, 2016
Hot Springs, VA

The S&P closed out Monday at $1,877. Gold closed at $1,108 per ounce. Crude Oil closed at $29.77 per barrel, and the 10-year Treasury rate closed at 2.02%. Bitcoin is trading around $395 per BTC today.

Dear Journal,

“I am too happy to be snowed in with my family! ” Wife Rachel scolded me for suggesting she wasn’t enthused about the snow days in my last journal entry.

“Well honey, the art of story-telling requires a little flare every now and then…”

“But you make me sound like a bad… oh crap, now you are going to use this in your next article!”

She makes it too easy for me. Continue reading “Reworking Higher Education”

Blending Timeless Simplicity with Modern Technology

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Journal of a Wayward Philosopher
Blending Timeless Simplicity with Modern Technology

January 22, 2016
Hot Springs, VA

The S&P closed out Thursday at $1,869. Gold closed at $1,100 per ounce. Crude Oil closed at $29.75 per barrel, and the 10-year Treasury rate closed at 2.02%. Bitcoin is trading around $395 per BTC today.

Dear Journal,

Two inches of snow covers the ground here in the mountains of Virginia this morning, and the falling flakes show no sign of stopping. At the Withrow Estate we have a fire in the hearth, coffee in the pot, and pancakes on the griddle. I pause and smile as I hear the sounds of a laughing toddler, a lovely wife, and a loyal dog emanating from the Great Room.

The weather forecast suggests another twelve to twenty-four inches of snow are on the way this weekend. There will be no salt trucks or snow plows venturing out to the gravel road that connects our property with the rest of the world which means we will not be going anywhere for a few days. Wife Rachel, a wedding coordinator at the nearby mountain resort, has already rescheduled the various events and tastings she had booked this weekend in anticipation of our snow days. She is not terribly enthused about being snowed in for the weekend, but I can think of nothing more serene. In fact, a number of years ago I had a fleeting vision of this exact occurrence. Continue reading “Blending Timeless Simplicity with Modern Technology”