"Fraud can creep into any business. A banker, seeing other people’s gold sitting idle in his vault, might think, “What is the point of taking gold out of the ground from a mine, only to put it back into the ground in a vault?” People are writing checks against it and using his banknotes. But the gold itself seldom moves. A restless banker might conclude that, even though it might be a fraud on depositors (depending on exactly what the bank has promised them), he could easily create lots more banknotes and lend them out, and keep 100% of the interest for himself.
"Left solely to their own devices, some bankers would try that. But most would be careful not to go too far, since the game would end abruptly if any doubt emerged about the bank’s ability to hand over gold on demand. The arrival of central banks eased that fear by introducing a lender of last resort. Because the central bank is always standing by with credit, bankers are free to make promises they know they might not be able to keep on their own."
--Doug Casey
Christian Britain has been gone a long time. But the Crown finally held a funeral, bestowing King Charles, earlier "The Defender of the Faith," a new royal title: “Protector of the Space for Faith within the Multi-faith Nation.”
A world-historical societal transformation is taking place before our very eyes, and yet few have taken notice. Britain, the erstwhile leader of the Western world and the foundation and source of English-speaking civilization, is in its last days as a free society, and will soon become an Islamic state. Yet despite the mountains of evidence that this transformation is taking place, many will still deny that it is happening at all. They may not even admit it when it overtakes them personally.
“I thought being on the left was a mental problem. The empirical evidence is so overwhelming that it never worked anywhere, and they refused to accept it. But what I discovered is that being on the left is a disease of the soul. The left is built on envy, hatred, resentment, and unequal treatment under the law. They are very violent, and since they have no way or arguments to answer, they go for physical violence.”
Argentinian President Javier Milei