Hugo Salinas Price: Inevitable Total Disaster For The World…(Long, But Good!!)

Saturday, January 27, 2018
By Paul Martin
January 26, 2018

“There can be no way to correct a terrible fundamental error such as the world’s reliance on fiat money, without paying a heavy price…”

by Hugo Salinas Price of

Some Reflexions on History and Economics

Nicolas Oresme, a Catholic bishop (1320-1382), studied human behavior with regard to money, which in his time consisted of gold and silver coinage; he was perhaps the first to observe that humans attribute varying valuations to the money that comes into their hands. He stated that holders of gold and silver coins prefer to tender their most deteriorated coins in payments, and retain the most bright, shiny and perfect of their coins. Thus, he was the true originator of what has come to be known as “Gresham’s Law”, long before the Englishman Thomas Gresham made a similar observation during the reign of Queen Elizabeth I (1558-1603).

Juan de Mariana, a Catholic priest (1536-1624), denounced the Spanish king’s policy of reducing the gold and silver content of the prevailing Spanish coinage, arguing that the coinage of the realm belonged to the people and was not the property of the king, to do with it as he wished. For stating this, he was jailed by the Inquisition.

I have presented these two thinkers as illustrations of the first stirrings of the science of economics in The West.

From the year 313, when the Roman Emperor Constantine declared that Christianity was the official religion of the Empire, and up until about the year 1500, the intellectual life of Europe was in the hands of the Catholic Church. The period saw the marvellous flowering of the human spirit based on the belief that humans are endowed with souls which endure to Eternity after the death of the material body. This great hope was the consolation of millions who were thus sustained in the inevitable sorrows that must be endured in this life. We see the consequences of this great hope, in the magnificent Gothic cathedrals erected during this period.

The Rest…HERE

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