Did you expect economic anthropology to be on your reading list when you started your day today? I'm certain this topic is not one that gets too much exposure. In fact it may be true that the last two generations of college graduates have little knowledge of the history of money. It isn't their fault. It just isn't taught anymore.
Since 1971, the rules have changed and that part of history is seldom part of any curriculum.. We won't go through a wide ranging exploration of economic anthropology in this page. It is far too vast. But we will focus on the history of money and we'll present some concrete patterns of behavior regardless of national origin. I guess that would mean dumb ideas seem to always follow dumb ideas. Even when history advises us of the outcome.
I have an excellent video presentation to share with you. It is part two of the "Hidden Secrets Of Money." As we get to that spot, I want to give you a few things in advance to consider as you watch this video.
Notice how Mike Maloney mentions deflation very early in the segment. Peter Schiff, author of "Crash Proof" strongly believes that our nation and the major economic centers of the world are headed for a deflationary period. Ben Bernanke is staking his legacy on a fiat currency printing mission to stave off deflation.
We presented a page a while back debating which is worse. Is it deflation or inflation. The host of this video suggests that deflation will occur first. And that efforts to combat it will lead to inflation. An interesting take for sure.
Pay attention to the comparison of ancient Athens. You will see how this once mighty power started down the road to problems by first debasing their currency, then taking on massive public works projects funded by debased currency. The origin of deficit spending. This first case study within our economic anthropology research should leave you with some insight. And some concern. Maybe you'll notice a trend?
Next came the need to fund a large army. And then to use that army. War and greed brought down that empire. As it has every one since then.
Please notice how he explains what happens to highly valued money when cheaper knock off coins are circulated. Think about how people keep real silver coins in a jar at home and spend the nickel plated ones. Why is that the case? Is there an almost instinctive reality of true value? Have you ever thought about that?
And please note the"Seven Stages Of Empire". I love history, but even if you don't, this look into economic anthropology could be eye opening. It is only thirty minutes long but definitely sets the stage for the next installment in "The Hidden Secrets Of Money."
Finally Mike Maloney wraps up his portion of the presentation by explaining that his goal is to help as many regular people as he can, get an equal opportunity. As he wrote in his smash hit book, "Guide To Investing In Gold And Silver", Mr. Maloney sees this greatest transfer of wealth as also the greatest opportunity ever for those who took the time to learn. Thirty minutes of that time could begin now.
The history of money. A small portion of economic anthropology. This video will enlighten you. Enjoy it!