Agora inc.

[Aslan]

I want you guys to watch this entire video from start to finish.

http://pro.bonnerandpartners.com/BBLFALLINGDOWN/PBBLRA36?h=true

apparently he is a Libertarian economic expert who owns a publishing company which shows that the US markets will eventually crash.

Edit: What he is saying is that the US has been in credit for decades and now is ''swimming'' in $50 trillion dollars of credit money but in reality there is only $146 billion dollars of real money in the system. He boasted that his company has predicted the fall of the USSR, the 2008 crisis, the fall of the Japanese market etc. Now he is saying that his company has predicted the fall of the US credit system with the fall of the federal reserve system.

How would a Marxist react to this Libertarian snake in the grass?

[Aslan]

I'd really like to see a marxist interpretation of this.

[John Nada]

Libertarian economic expertThat an oxymoron. That alone should tell you he's full of shit. Anything associated with Grover Norquist, Ron Paul, Ronald Reagan, Lew Rockwell and Von Mises should not be regarded as reliable and must be ridiculed. Could've told you that before wasting my time watching part of it.

He didn't predict anything that anyone else could've guessed. The Austrian "economists" just cry wolf over and over, and like saying the sun will rise, it eventually happens. It's a bunch of conspiracy bullshit. They don't predict shit.

Money is a means of quantifying exchange value between commodities. It doesn't have to be physical currency. It could've been liquor, opium, buck skins, saffron or whatever as the equivalent, but gold was just one of the the better options, since it's impossible to counterfeit and doesn't corrode. Bank notes(paper money) later became more practical than haling around chests of metal, and while it can be counterfeited, that's gets hard and hard. Now money could just as well be numbers on a computer.

Lolbertarians have this weird gold fetish where for some reason pictures of dead racist white guys backed by an imperialist nuclear superpower are fake and unstable, and a rare shiny piece of metal that's pretty fucking useless other than being chemically stable and pretty is the only thing with "intrinsic value". They think that more pieces of paper=less value, so if it's just printed instead of mined then it's unstable.

In truth dropping the gold standard made the dollar more stable, for if it were tied to one physically commodity there would likely be out of control deflation, like what happened during the Great Depression. Bank accounts are insured, so no empty ATMs(except for if you're poor like my broke ass). The whole world won't stop because it's based on credit and not pretty metals. The only way anything close to that happening in the US would be political austerity that those same Lolbertarians advocate.

Of course depressions will happen, just not as the Austrian "economist" describe. It'd like not be everybody stops accepting dollars, and more likely deflation(which the Austrian "economist" pretend doesn't exist) where the dollar is more valuable relative to commodities.

[willowtooth]

These kind of people are a dime a dozen, they peddle conspiracy, doom and gloom, and nothing more, they always sell something like an ETF or a commodity of some kind but they are basically snake oil salesman, they sell books and subscriptions usually, but most importantly they peddle fake advice, and for every prediction they get right they get 50 wrong, a broken clock is right twice a day

these particular scammers have been sued three times already:laugh:


The 25-year-old firm markets its 50 financial, travel and health newsletters with bombastic pitches that promise subscribers advice that will lead to riches and better living, or your money back. Guaranteed.

It's a hard sell designed to grab attention in a market crowded with big-name market gurus and forecasters, and it works. Agora's success has paid for founder and President William Bonner's chateau in France, and placed him and a few partners among the top five newsletter publishers in the United States.



"I would say what makes [Bonner] tick is creating and publishing ideas," said Myles Norin, chief executive of Agora's U.S. operations, which account for 60 percent to 70 percent of its sales. "It's not just chasing profits."

But the Securities and Exchange Commission says the company's aggressive tactics have pushed the legal envelope. In a complaint filed last week in U.S. District Court in Baltimore, the federal agency claims that Agora defrauded its readers last year by charging $1,000 for false insider information about USEC Inc., a Maryland company that supplies nuclear power plants with enriched uranium.

USEC said it never gave Agora editor Frank Porter Stansberry inside information and is cooperating with the SEC.

The allegation is part of a pattern of behavior at Agora that the SEC says goes too far. It is asking the court to order the company to stop making false statements in its newsletters and return profits of more than $1 million, among other things.

http://articles.baltimoresun.com/2003-04-19/business/0304190367_1_agora-newsletters-disgorgement

https://en.wikipedia.org/wiki/Agora,_Inc.#Litigation_against_Agora_Inc.

[ACME_MAN]

There is a left-wing branch of libertarianism---albeit small, but it does exist. Clearly that is with respect to social issues though.



I want you guys to watch this entire video from start to finish.

http://pro.bonnerandpartners.com/BBLFALLINGDOWN/PBBLRA36?h=true

apparently he is a Libertarian economic expert who owns a publishing company which shows that the US markets will eventually crash.

Edit: What he is saying is that the US has been in credit for decades and now is ''swimming'' in $50 trillion dollars of credit money but in reality there is only $146 billion dollars of real money in the system. He boasted that his company has predicted the fall of the USSR, the 2008 crisis, the fall of the Japanese market etc. Now he is saying that his company has predicted the fall of the US credit system with the fall of the federal reserve system.

How would a Marxist react to this Libertarian snake in the grass?