A Black Hole In Economics: Money Creation and Its Consequences
Here's how to sign. up for my 9-part course on money creation, which starts Saturday, September 16, at 8:00am Pacific, 11:am Eastern
I want to give you a ten-minute introduction to my forthcoming course on money creation and its consequences, which starts on Saturday, September 16, at 8 a.m. Pacific, 11 a.m. Eastern, and 3 pm GMT. You can sign up for the course by purchasing a membership in the Ayn Rand Centre UK at the Platinum level.
The attached YouTube video gives you a 10-minute introduction and detailed course description. I recommend viewing at 1.25x
I believe you will benefit from taking this course, which is titled “A Black Hole In Economics: Money Creation And Its Consequences.”
“Sound” money – money that is widely accepted in commerce and holds its value over time - is essential for economic progress and human well-being. Most of us take sound money for granted because, for most of our lives, money has functioned fairly well for us.
But today sound money is under threat. Government spending and deficits are out of control, banks are in trouble, and rising prices are grinding down everyone’s standard of living. Our monetary system seems to be in crisis, but no one knows what to do. What is happening to our money? This course will provide answers.
Like anything else that is traded in the economy, money must be produced or created. So, understanding money starts with understanding how and where it comes into existence and what happens as it spreads through the economy.
Despite its importance, very few people understand money creation, which is why I call it a "black hole" in the universe of economic knowledge. Practically no one "gets it." This includes most investors, journalists, policymakers, and even professional economists. Their most common explanations are simply wrong, so we can't rely on the usual “designated experts” to give us answers.
So, it's time for the average person to understand money better, starting with how and where it is created. Money creation can be productive and beneficial, or wasteful and inflationary. Knowing the difference can benefit you, both as a citizen and as an investor.
As a citizen, gaining a fundamental understanding of money creation is the first step in knowing how to return to a system of sound money. Then, when the next big crisis hits, you’ll know how to identify the best thinkers who can introduce much-needed monetary reform.
On a more personal level, as a saver or investor, a fundamental understanding of money creation and its consequences will help you reduce the impact of inflation on your investment portfolio and allow you to accumulate wealth despite money’s declining purchasing power and despite the financial repression that is now descending upon us.
As far as I know, you won’t find the information presented in this course anywhere else in a single source. I know this because I had to piece it all together from many sources over a period of about five years. That alone should tell you how confused the world is about money creation and that it’s time to clear things up.
The course consists of nine sessions of 60 to 90 minutes each. It is aimed at those who are reasonably well-educated and who are simply interested in this topic. The course is entirely self-contained. No formal background in finance or economics is necessary. No homework or outside reading is required, but I will provide many suggestions for supplemental reading that will deepen your understanding if you have the time to invest.
Thanks for reading, I look forward to seeing you in class.
HardmoneyJim
September 12, 2023