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Posts Tagged ‘gold exchange’

The Currency Crisis and the Welfare State

Many think that developed countries are somehow “better” than the rest because they provide for the needy through the welfare state. Nowhere is this idea more alive than in Québec. We’re more caring. Americans are ruthless cutthroat capitalists (if only!).

Few people, especially the intellectuals, understand that it has nothing to do with our good “ethos” but more with printing money and going off the gold exchange standard. Indeed, the welfare state going into full throttle coincides with the US going off the gold standard at the beginning of the 1970s. No backstop – baby boomers partied like it was …

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Articles by MJ Loiselle, the MJ Economics web site and the MJ Economics Newsletter ("MJ Economics publications") are published by MJ Economics, a division of Nuno ID Inc. Information contained in MJ Economics publications is obtained from sources believed to be reliable, but its accuracy cannot be guaranteed. The information contained in MJ Economics publications is not intended to constitute individual investment advice and is not designed to meet individual financial situations. The opinions expressed in MJ Economics publications are those of the publisher and are subject to change without notice. The information in such publications may become outdated and MJ Economics has no obligation to update any such information.