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Fair Tax Legislation Dissected MerrillMedia 88 views I read through the entire Fair Tax legislation and find some troubling text that will shift the burden of taxation from the federal to the state governments. merrillecon.c...
Free Trade Primer MerrillMedia 20 views I share and comment on a debate I had with a protectionist nationalist.
Prologue:Mega Merrill Media Econ Marathon! 3-30-11 MerrillMedia 40 views I discuss a mini marathon of videos I am creating over the next couple of days regarding research I have done recently. The topics of the videos will be as follows: 1) "Ex...
Glock 19, Pawn Shop Silver, St. George, Human Action MerrillMedia 354 views I buy more gold and silver on a huge dip, and bought a new Glock 19. I bought silver from a pawnshop in St. George, UT and completed the 1500 page book, Human Action by Lud...
Tsunami, FX Rates, Freedom Fest, Robert Kiyosaki MerrillMedia 61 views I discuss the impact the Tsunami has on FX rates and interest rates in America. I also talk about possibly attending Freedom Fest in Las Vegas and a Robert Kiyosaki seminar...
Utah Sound Money Act: Silver & Gold as legal tender MerrillMedia 720 views I discuss attending the iCaucus economics summit, meeting Peter Schiff, silver bullion and the Utah Sound Money Act, HB-317. merrillecon.com and follow me on twitter: me...
Yen, Dollar and Currency Intervention MerrillMedia 90 views
Exporting inflation and toxic MBS MerrillMedia 73 views I describe the method that America exports their inflation and how the toxic MBS could be inflationary wether they are held to maturity or sold before. http://www.merril...
FriendshipDay2010 MerrillMedia 24 views F-18 flying on Friendship Day 2010.
Jaden bit me MerrillMedia 112 views Carnivorous children feast on the flesh of their father's foot.

About MerrillMedia's channel

Forming a world view from truth and reason.

merrillecon.com

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MerrillMedia

Latest Activity

Feb 26, 2012

Date Joined

Feb 12, 2010

About this user

The reason I'm blogging is to increase familiarity with a macroeconomic phenomenon called the "Triffin Dilemma." The Triffin Dilemma correctly predicted the demise of Bretton Woods a decade in advance and continues to have dire consequences that are amplified by the absence of a gold standard. The Triffin paradox states that in order for a nation's currency to be an international reserve currency, more dollars need to leave the country than flow in to meet the foreign demand for reserves. But at the same time, for long term confidence in the currency, more of the currency needs to flow into the country.

The reason this concerns me and I feel it should concern all Americans is two-fold:

1) I believe the consequences of the Triffin dilemma are the canvas that the current and future crises are painted on. There is plenty of blame to go around to be sure, (Fannie/Freddy, Washington, Federal Reserve, China etc...) but these are just agents acting under circumstances that wouldn't exist without the paradox.

2) The only people discussing the Triffin Dilemma are the people who will profit from the dollar's inevitable destruction, China and the IMF. The problem is that their solution to this problem is to remove the dollar and replace it with SDRs or some other basket fiat global currency.

I am going to be making a series of videos on the cause and effect of the paradox and my proposed solution. Of course one powerless individual cannot change the international financial architecture so I am seeking other Austrian minded individuals to be discussing this, because I think that this is something that will need be addressed in the coming years, and we Austrians don't want to miss out on another opportunity to predict another future crisis that is somewhat salvageable before it's total collapse. Unfortunately the political will to wake up only happens after the collapse has happened, but at least we will continue to be the only remaining credible econ field if we play this right. Because as it stands right now, if the dollar collapses tomorrow and we don't promulgate our Austrian alternative, the Keynesian central bankers will automatically win the debate since they will be the only ones to have addressed it with Keyne's proposed Bancor (Pre-Bretton-Woods Keynesian proposal of what now is IMF and SDR's).

Please watch my videos, discuss, and reply.

Thank you,

Justin Merrill

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