Pan fried or cooked with onion and cheese, the German egg noodles called spätzle can have a healthy golden glow. For more than 300 centuries, spätzle has been an alpine culinary standard. The long strands of done are easily cut and divisible and a standard part of a southern German meal.
But a good monetary standard must be universally acceptable. Unfortunately in Germany spätzle is a source of division rather than unity, noted the New York Times’ Nicholas Kulish, who described the recent desecration with spätzle of a bronze statue of artist Kathe Kollwitz in Berlin.
Native Berliners are upset by the increasing numbers of well-off Swabians who have moved to the German capital from more prosperous southern Germany – pushing up prices and pushing out poorer Berliners. Swabia is generally considered the state of Baden-Württemberg and eastern Bavaria in the country’s southwest. “The swabians, for their part, resent their reputation as careptbaggers and the slights they have been forced to endure, with graffiti reading “Schwaben raus,’ or Swabians out,’ a slogan often directly at foreigners, an increasingly common sight,” wrote Kulish.
The statue protest was carried out by group called “Free Swabylon” which claimed to want independence for an area of East Berlin called Prenzlauer Berg that included the home of an outspoken critic of the Swabian invasion.
The critic, Wolfgang Thierse, the vice-president of Germany’s federal parliament, the Bundestag, had said: “I hope the Swabians realize they are now in Berlin. And not in their little towns, with their spring cleaning...They come here because it’s all so colourful and adventurous and lively, but after a while, they want to make it like it is back home. You can’t have both.”
The Berliner Zeitung declared the statue defacers“dough terrorists.” Obviously, a good monetary standard should never be weaponized. Furthermore, gooey spätzle doesn’t travel well in one’s pockets. Eat it while it’s hot. But never in Berlin.
Will America start prospering again — as it has not prospered for over a decade? Likely yes. But not without a fight. Now that Jim DeMint has raided Steve Moore from the Wall Street Journal that card might be Heritage Foundation vs. the White House. Could be big.
John Holdren, now Obama’s White House science advisor, 40 years ago termed America “overdeveloped.” Holdren co-authored a 1993 book, Human Ecology: Problems and Solutions, with Anne and Paul Ehrlich reportedly saying that, “A massive campaign must be launched to restore a high-quality environment in North America and to de-develop the United States….” (Emphasis supplied.)
As a soldier of France, no one knew better than Professor Jacques Rueff, the famous French central banker, that World War I had brought to an end the preeminence of the classical European states system and its monetary regime, the classical gold standard. World War I had decimated the flower of European youth; it had destroyed the European continent’s industrial primacy. No less ominously, the historic monetary standard of commercial civilization had collapsed into the ruins occasioned by the Great War. The international gold standard -- the gyroscope of the Industrial Revolution, the common currency of the world trading system, the guarantor of more than one-hundred years of a stable monetary system, the balance wheel of unprecedented economic growth -- all this was brushed aside by the belligerents.
Publisher's Note: Originally released in June/July of 1991, this detailed report discusses Jacques Rueff's economic theories and applies them to modern economic events.
By John D. Mueller
LBMC’s Growth Model
In L’Ordre Social, Rueff constructs a theoretical model of the world economy. In it, output is the flow of goods and services produced by the stocks of labor and capital. His analysis includes the interaction of market prices and costs of production (net of taxation); markets for goods claims and foreign exchange, which are integrated through internal and external trade by purchasing power parity (and disparity), including transportation costs and tariffs, a monetary system which may be either gold-convertible or inconvertible, with or without reserve currencies, with or without adjustment lags (which produce overshooting effects in the price level and exchange rates); a theory of how economic policy operated through incentives and disincentives, including not only taxation but also price- and other regulation; alternate methods of financing budget spending (taxation, borrowing, monetization) and their effects – among other things.
"Commercial banking grew out of the desire (inspired by the profit motive) to conserve cash (gold) and by means of credit to provide financial elasticity and growth in the commercial process of exchange. That is, all producers (sellers) who desired true money (gold), instead of the short-term secured credit bills – promissory notes of their customers (the buyers) – could, through the mediation of goldsmiths-turned-bankers and bill-merchants-turned-bankers, obtain real money by discounting their bills of exchange for gold with the emerging commercial bankers of early modern Europe. The combined institutions of stable money and secured credit enabled commercial civilization to make of the entire world the only closed economy."
Argentina is floundering. Brazil is struggling. Colombia is growing. Colombia is now the third largest economy in Latin America, according to Capital Economics. The Wall Street Journal’s Darcy Crowe and Taos Turner wrote recently: “After Argentina’s economy dwarfed Colombia’s for decades, economists say the trend reversed in January as the...
One of the themes for the Akan gold counterweights is the electric mudfish.
Image courtesy of AfricanMasks.info
Spark From The Deep by William Turkel has this to say about the fish upon which this counterweight is modeled:
The electric catfish also played an important role in the west African kingdom of Benin, which...