Gold’s price dropped from close to $5,600 to less than $4,500 on Monday. Silver plunged 31.4% on Friday alone.

For the past month, Americans have been wondering whether President Trump will attack Iran, or whether the massive military build-up in the Middle East is just another bluff. President Trump claims that the decision is his alone to make.

We have been here before – the Fed monetizing a productivity surge. There are two important differences this time, though, full of danger. No wonder the dollar and gold are emitting stark red warning signals.

Labor divided into the production of different goods or even into various tasks involved in the production of a single good is one of the earliest observations on the nature of human civilization. From a scientific point of view, civilization or society is the division of labor. Unfortunately, opinion down through time mistakenly considers it a mixed blessing, indicating that it is a great force for both good and evil.

I don’t know who introduced the idea that the market is something egocentric and perverse, but it has distorted its meaning. Originally, those who spoke about the market were not “economists” but—like those of the School of Salamanca—theologians and moral philosophers, or—like Adam Smith—who dedicated himself to moral philosophy.

The historian Frank L. Owsley is often described as a “sectional historian,” meaning that he was a Southern historian, born in Alabama, writing from a Southern perspective. Similarly, the historian Clyde Wilson has been described as “a Southern historian” who is “a Southern partisan in the best sense,” namely, one who offers “a Southern perspective on American history – one that yields interesting and important insights.”

While not surprising, it has nonetheless been remarkable how quickly American conservatives have been convinced to ignore or make excuses for virtually everything the regime does, so long as Donald Trump is in the White House. This includes the administration’s runaway deficit spending, inflationary monetary policy, ramping up of foreign wars, a growing disregard for federalism, and even higher taxes. Policies that would have been denounced by conservatives under Barack Obama or Joe Biden are reframed as virtuous under the current administration.