Tag: Great Reset

A Golden Reset?

submitted by jwithrow.
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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

submitted by jwithrow.
Click here to get the Journal of a Wayward Philosopher by Email

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”

Why Peaceful Parenting is More Important Than Ever

submitted by jwithrow.peaceful parenting

Journal of a Wayward Philosopher
Why Peaceful Parenting is More Important Than Ever

July 10, 2015
Hot Springs, VA

The S&P closed out Thursday at $2,051. Gold closed at $1,160 per ounce. Oil checked out just under $53 per barrel, and the 10-year Treasury rate closed at 2.30%. Bitcoin is now trading up around $287 per BTC as the Greek banks remain closed and the Chinese stock market continues to plummet.

Dear Journal,

We examined the Greek crisis last week and we wondered if depositors would find that they had generously “bailed-in” their bank with their hard-earned money when the banks finally reopened. Sure enough, the Greek banks have yet to reopen and there has been talk of a 30% haircut on all deposit accounts in excess of €8,000.

This is yet another example of why it is a bad idea to warehouse your funds in a domestic bank account. Fortunately, the Infinite Banking Concept offers a much better solution to warehousing capital without sacrificing liquidity.

These financial crises that continuously occur from time to time in various countries, along with government’s heavy-handed response in each instance, are the symptoms of a much deeper problem:

Our world is ill.

Modernity has constructed hierarchical systems of power and control and it has elevated the leaders of these systems to positions of prestige and authority. This has created a scenario in which the least among us fight tooth and nail to reach the top of Modernity’s power structures then they work to grow and perpetuate their power. This is done largely by bribing the masses with wealth-redistribution while aggressively cracking down on non-conformists and disruptors. The predictable result has been the disappearance of personal responsibility and basic human empathy. Continue reading “Why Peaceful Parenting is More Important Than Ever”

Of Gold, Energy Stocks, and Bitcoin – Opportunities for the New Year

submitted by jwithrow.bitcoin

Journal of a Wayward Philosopher
Of Gold, Energy Stocks, and Bitcoin – Opportunities for the New Year

January 2, 2015
Hot Springs, VA

Welcome to the first business day of 2015! The S&P opened at $2,055 today. Gold is down to $1,171 per ounce. Oil is down to $52 per barrel. Bitcoin remains rather flat at $315 per BTC, and the 10-year Treasury rate opened at 2.20% today.

We spent our time yesterday going over how fiat money enslaves society and we agreed that this was critical to understand if we are going to have a chance at being financially independent. Wife Rachel said it was a rather dreary journal entry so today we will endeavor to be more positive.

Let’s take a look at some of the financial opportunities we have for 2015.

First, the precious metals are as cheap in dollar terms as they have been in several years. Gold and silver could still drift lower in 2015 but the fundamental case for owning them is as strong as ever. This is a great time to pick up some ounces if you are a little short on your precious metals asset allocation.

Over in the equity markets, energy stocks of all sorts have taken a beating with plummeting oil prices. Fund managers accentuated the crash in energy stocks as they sold at a loss for tax purposes and to show little exposure to the sector at year-end. This is a great opportunity for a contrarian to add some energy exposure to his or her portfolio. It is advisable to be very diligent in this endeavor, however, as marginable producers will be squeezed if oil prices remain this low for an extended period of time. Be sure to go with the companies that can survive at current prices, keep position sizes reasonable, and stick to your stop-losses.

Several notable analysts expect the Fed to launch QE4 the moment the S&P starts to tumble which would send stock prices soaring even further. Some of these analysts think this will occur in 2015. The Day of Reckoning will eventually come for the current fiat monetary system as the Great Reset continues to unfold, but that day is not here yet. 2015 may provide an opportunity to capture gains in the market and convert those gains into hard assets.

Even more speculative is Bitcoin which plummeted from a 2014 high of $939 in January all the way down to its current price of $315 over the course of the year. Maybe $315 is a good entry point, I don’t know. Of course Bitcoin opened 2013 at $13 so maybe it is still reverting back to the mean.

Personally, I am not sure what to make of Bitcoin. Free market advocates are die-hard in their belief that Bitcoin has the potential to rid the world of fiat money by eliminating the need for any middlemen and thus eliminating transactional friction. Free market detractors are pretty adamant in their belief that Bitcoin is a pump and dump scheme that will not be relevant for long because it does not meet all of the standard qualifications for hard money.

I am in the middle somewhere – Bitcoin’s functionality fascinates me but I don’t think it eliminates the need for precious metals within the monetary system. I think a small dollar-cost-average approach may be a reasonable method of testing the Bitcoin waters.

Of course there is no room for speculation until you have built a sensible level of resiliency and have a sturdy asset allocation model in place. Having debt cleared out, cash on hand, precious metals for insurance, a back-up energy source, and some food and wine stored in the cellar will insulate you from any storm that comes your way, regardless of how your speculation works out. Throw in good family and friends and you will be in great shape no matter what happens in 2015 and beyond.

What else could you ask for?

More to come,

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Joe Withrow
Wayward Philosopher

For more of Joe’s thoughts on the “Great Reset” and the fiat monetary system please read “The Individual is Rising” which is available at http://www.theindividualisrising.com/. The book is also available on Amazon in both paperback and Kindle editions.