Website Of the Week Award
©2005 by Richard Nolle
FEB 7, 2005 - John Law is a timely topic, and the Wikipedia article cited here is a good place to start getting a handle on him. Law is widely considered the father of modern fiat currency systems. They're the flimsy foundation on which the global economy is built today, a financial house of cards with no intrinsic value to back it up; only a promise to pay here, an electronic debit there, nothing but smoke and mirrors. We take it for granted now, thanks to generations of familiarity with such institutions as the US Federal Reserve Bank - the horoscope for which is mentioned in my column for JAN 17. Speaking of horoscopes, the (untimed) birth data for John Law are given in the Wikipedia article: April 21, 1671 in Edinburgh, Scotland. (A couple sources give his birth date as April 16, 1671, but the majority cite April 21 that year - not a difference that jibes with a Gregorian/Julian calendar issue, by the way.) Both the Law and the Fed charts feature Pluto at 1° Cancer; a point Pluto in the heavens will come to oppose, off and on, from late 2008 into the fall of 2009. Oh my . . . Shades of the Mississippi Bubble?
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