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I just read the Vierte Berliner Rede (4th Berlin speech) of the German Federal President Horst Köhler. It answered some of my questions regarding global economic foundations and principles of function, but only some. I’ll elaborate here on some stuff that I got inspired to when reading that speech. Köhler said that all industrial nations [...] Here’s my current understanding of the genesis of worldwide economic crises, and the underlying mechanisms of our economic system. It emerged from some very interesting discussions with friends. The current economic system relies on “fiat money”, that is, money without (full) Gold backing. Only in the fiat money system, money can be “generated” (by the [...] One of the things, that the current so-called “world-wide economic crisis” teaches, is this. That this world is a brutal one, where every nation thinks of its own first. Crisis time makes it obvious, while good times conceal it. For example: the media represents that we in Germany are currently worried about ourselves. And our [...] |
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