Max Yemets was just a child when hyper-inflation came to the Ukraine, but he has many memories of that time. Max remembers people living on fixed incomes and having their entire worth wiped out. 10,000% inflation has a way of making people question their government. While they were extremely hard times, that seemingly happened overnight, people banded together and got through it with remarkable grace.

Naturally, there was civil unrest as well as a major increase in crime. People in the former Soviet Union didn't have a right to bear arms, and the State liked it that way. But most people in the Ukraine knew how to live off the land, and for 3-4 years that's exactly what they did. Finally, the currency was pegged to the US Dollar, and the cycle ended once and for all. Unfortunately, we don't have another currency to substitute for our dollar. So if the currency follows the normal lifecycle of all fiat currencies, we will have to pin our hopes on gold and silver. 

Max's site www.HowToBePoor.com is must reading.

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Direct download: Max_Yemet_03-27-2012.mp3
Category:general -- posted at: 7:48 PM
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Danielle Park, of JugglingDynamite.com fame, joined us again today, and I'm very happy to announce she will now become part of our bi-weekly repertoire. Today Danielle and I took a tour into the never-never land of contemporary financial markets. We share a common outrage of the world governments. It seems the governments of the world are working 24/7 to ensure the most corrupt and destructive financial institutions survive to plunder the globe yet another day. When will it all end? Neither of us has an answer, but we agree that unless steps are immediately taken to slice and dice these predatory monoliths, trouble is waiting up ahead.

Those who save are the ones who wind up paying most for the bailouts, and they receive almost nothing in return. While confidence in every country's obligations and securities is at an all time low, institutions and investors keep putting money into them because there's really very little alternative. The bear market in stocks has gone on for over a decade, and no one sees an end to it. Hopefully, real companies, marketing real goods and services, will herald in a new economic paradigm. Until then, take the current signs of low volatility as a sign to expect the next black swan to appear. 

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Direct download: Danielle_Park_03-27-2012.mp3
Category:general -- posted at: 6:48 PM
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