Guest Post by Martin Armstrong
Experience is everything. You cannot forecast something you have never seen, but opinion is fallible because we are all infected with that human trait of being fallible. I have learned so much from the computer. This is the importance of real cognitive adaptive computer systems. They have no emotion or bias so they are objective. In a way, they are like the character Spock from “Star Trek.” If someone believes that paper money is the great evil, then they will be blind to all other influence and look no further. Concluding that the evil is paper money, means they consider nothing else when in fact it is the fiscal mismanagement of the monetary system irrespective of what society uses for money. This is why a gold standard would not work and has failed historically every time just like Bretton Woods. It has nothing to do with the medium of exchange. It is always about those in charge. Milton Friedman said if you put the government in charge of the Sahara Desert, there would be a shortage of sand in no time. Investigating the truth requires abandoning all bias.
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