History Repeats Itself

I love sayings. Quotes, Wisdoms, Psalms, Proverbs, and even puns. I guess that is why Robert A. Heinlein quote rests as my banner on this blog. One of the sayings I often use is “The only thing we learn from history, is that we don’t learn from history.” (paraphrased from Winston Churchill)

It’s true though, no matter what way it is phrased, or said, we tend to learn nothing from the past. Part of that is due to the fact the history is only really written by the winners, the other is that we as humans suffer from cognitive dissonance. We want it work this time.

Socialism is a philosophy of failure, ... its inherent virtue is the equal sharing of misery. - Winston Churchill Click To Tweet

Recently in the news, the bank of England with held Venezuela’s gold reserves from leaving the bank… or is it actually news? I read ZeroHedge often, and was a bit curious to see how long they’ve been posting, so I went back to find their first set of posts. Turns out their first real post was a headline that could have been made in the last month.

Fiat money, even crypto, is a dead end. Always will be. I’ve been saying that for years too. Representation of wealth is not wealth, doesn’t matter what legalize you use, it just isn’t so. Gold is the standard, and you can’t trust anyone with your real wealth.

Guess we never learn.

– Wolfe