The British pound is the oldest fiat currency in existence at 321 years. The pound was originally defined as 12 oz. of silver. It's now worth less than 0.5% of its original value. In other words, the most successful long standing currency in existence has lost 99.5% of its value.
Silver was removed from coins in 1964, I assume the US Treasury Silver Certificates as well and Federal Reserve Bank "Notes"replaced them.
A "paper" money solution is available in Gold Certificates where gold threads are woven into the paper in porportion to the denominated value of the certificate.
main reason was the entry into depletion for conventional crude oil. 11 million barrels per day in 1970, production starts falling, profits falling, EXPORT EXPORT. 3 or 4 million barrels per day now in 2023. Unconventional tight oil was known at the time but not obtainable. That is also now entering the down slope of depletion as we speak, the end of globalism.
Your contributions are usually helpful, which is why I was bumfuzzled at your comment. Please, don't expect readers to know what you know. It happens to have been my most frequent mistake, and history (or, even historians,) doesn't have to repeat itself.
Thank you for the explanation.
I remember playing online about 15 years ago and beating a high school teacher of chemistry without an effort. That's quite sad, because I've never been much good in the traditional paradigms of chemistry and biology (I found both incomplete at best, totally contradictory at worst). Still, it would be most helpful, if you provided a simple explanation in order to avoid further confusion for those, who are not particularly well-versed in the art of chemistry.
Chasing profits was just the ways and means committee in action for chopping the productive sector of the US work force up into pieces to transition into service oriented job landscape to cater to all that remained- consumers. Sort set the stage for the snake eating its tail.
Great plan if the plan is to kill the beauty of innovation and life on the macro scale.
I’m grateful for the few bright and shiny friends here.
Because the 'lawmakers' invested in overseas companies, and then destroyed US companies through legislation, to profit through their oversea investments.
Destroying the filament lightbulb industry is just one example.
I wasn't very clear, and I apologize; They banned the Edison lightbulb so that they could force the Chinese CFL lightbulb on us. Talk about an environmental disaster those things were!
I did not know this, but felt this! I've told my husband LED can't be good for us, because I often have a physical reaction to them. Thanks for sharing this here, going to do some more reading. 👍 💡
I think that the spectrum of the light is a major factor in a lot of things, including just simple perception. Full spectrum light is most natural, and I find it most pleasant.
I like to avoid the 'cool' shades because they have an abundance of blue light. Anything that emits UV-A is best avoided for a host of reasons. I had a Growlux incandescent light in my study and controlled it with a dimmer. Again too, avoid blue light around bedtime.
The bolsheviks blamed the kulak farmers of Ukraine, which led to the famine of 1933. I can see erie parallels with the freedom convoy in Canada, and the overall whitewashing of rednecks as trailer trash. Nature doesn't forget, and doesn't forgive. Nature just is, and will be teaching us all a hard lesson in self-reliance soon I believe.
Yeah, in terms of agriculture, I had the same association, the Ukraine, but this is a simple article meant to be easy to understand. Delving into history wouldn't have helped.
Truckers have been targeted in California, too, trying to force them into corporate employment, which is going to create further food shortages, just like government-enforced price-ceilings do. It's all part of the 2030 plan.
Globalists inner cabal is interacting as though currency we know of as "money" is really no object to them.
They call themselves Stakeholders, engaging in their Stakeholder capitalism. This is an economy of power; it relies on "compliance" as currency, the coin is Loyalty. Members of this exclusive Criminal Family go to great lengths to keep both money and power. They want to exercise brutal government control over everyone. The answer to this is Self Reliance. Growing your own food, making your own goods.
I'd love to subscribe to your site, but you haven't published anything yet. If you need help, I would volunteer to help you free of charge. Your contributions in my comment sections show that you have a lot to say and you've "got it right" as far as such a thing is possible from time to time.
You have a totally different angle from mine, which is good. Still, all roads lead to the same destination as long as one honestly pursues the path of seeking out the truth.
Sadly, I can't see how self-reliance will be possible. The noose is actually tightening.
It is a very nuanced line, and that’s why it works so well. Makes plausible deniability easier on all sides. The dependent majority, the ‘useless eaters’ in some eyes, do have culpability as well. It’s a relationship, the master-slave dynamic. Sure, lots of it is beyond our control and puts us in a ‘victim’ status--like the chemtrails, the fluoride, the crimes against us as children, etc. But some of this Americans have done to themselves even as the evidence and the alternatives present themselves all around. The programming is severe, but much of the prison is of the mind and still escapable. Perhaps for a limited time only.
I find most of Mishelle's memes hilarious (remember, it is her stance, but happens to be quite close to mine and I never fully agree with anyone and don't expect anyone to agree with me).
***
In response to your comment, Mishelle, you might want to also consider the following:
Beyond that, however, certain general rules apply.
Civilizations always default to the same setup, and I believe, I am the only one who has been pointing it out worldwide since 1992. Other "academics" would have been invited to Harvard for less, but my knowledge has never been for sale; it is available for all those, who want to know:
The roles are tricky now: the victim, the torturer, and the rescuer roles are rotating dynamically, no matter which side of the wall someone is.
In the plandemic, everybody is a potential victim and a potential rescuer, but the saviors vary. For some, it’s Fuxxi, for others, it’s a politician, Dr. Whoever, another “scientist,” a whistleblower or some other kind of “truth-teller.”
The common denominator among these players is that the people are declared to be helpless, which most of them even believe. They are hell-bent on finding a rescuer who are either as fake as the plandemic or as powerless as the victims themselves.
The victim role also varies: some believe they are infected by a “virus,” others believe it’s all the fault of the injected or the uninjected, and the most observant ones realize they are victims of a globalist scheme.
People, no matter how powerless they might be, can declare themselves saviors, mostly by “telling the truth,” although that sort of thing has never made a difference in history. Only those in power can change things, and they change things only if they can be convinced that specific changes would be advantageous for them, as it happened when Confucian meritocracy was introduced in China 2,500 years ago or during the proliferation of denominations during the Christian Reformation.
The option of dynamically switching roles makes the game entertaining, rewarding, and addictive. The addictive pattern comes from the isolation of a segment of personal experience, where the person enjoys cognitive security (because everything is predictable), a sense of victimhood, or a real or imaginary role of one in power.
I think not 80's but 70's. Or earlier. Japan, Inc. Steel factories built overseas. In the 1970s, many U.S. corporations began to shut down their plants in high wage areas and relocated them in the newly industrialized, cheap labor areas of South Korea, Hong Kong, Taiwan, and Singapore. Low-skilled workers in U.S. industry have experienced the biggest losses.
Self evident the labor could be more profitability offshore. The outsourcing and offshoring trend began in the 60s and 70s as large corporations transferred their manufacturing processes to lower-cost countries. General Electric was one of the pioneers of outsourcing at the time.
Other chief examples are US firms that moved production to factories in Mexico under the Maquiladora system. A maquiladora is a manufacturing plant or factory licensed to operate under Mexico’s Secretariat of Commerce and Industrial Development.
Maquiladoras were built in the 1960s to encourage foreign investments and ease unemployment problems in Mexico. Employment in maquiladora increased from roughly 200,000 in the 1980s to over 1 million jobs in the late 90s. Other countries soon followed and took advantage of the system. In fact, many manufacturing companies in Japan produced goods under the maquiladora system in the 1980s.
Over time, offshore manufacturing moved to other lower-cost countries like India, China, the Philippines, and Eastern Europe. Despite the high costs of transportation, duties, docks, and brokers, most of these companies found that a 30-50% labor cost reduction is enough to compensate for these expenses.
I wasn't sure about the dates, but logically, it must have started after the fiat dollar was introduced in 73.
Destabilization and balkanization, of course, had to be global.
Mercantilism would have worked in the US; after all, we are a different continent. The way everything has been being destroyed would have worked for foreign cheap labor, too, but since 2001, I have had this eerie feeling that the masters don't even live in America anymore.
I tell ya I would not bat an eye if they lived off world at this point. Or if they simply were a parasite gone wild selectively breeding in humanity. Charles Fort did a good job of demonstrating that mastery lay in narrative control. Covid demonstrated the Sufi psychology that man is just an animal unless he has a guide goes deep into monkey mind and imitative behavior to the extinction level event done for many reasons by many hands utterly indifferent to means are ends in themselves. Offshoring in One World - Brave New World - as conceptualized by forums meetings and public policy was always driven by profit and power and never by local needs.
In his 1962 book The Structure of Scientific Revolutions, Thomas Kuhn - the paradigm shifting philosopher of science - proposed that science was essentially sociological, and like all sociological endeavors was informed by a type of group-think akin to religious conversion. Almost half a century earlier, as Colin Bennett points out on his compelling Fort bio Politics of the Imagination, Charles Fort had hammered home the exact same theory.
Groupthink seems to be the KEY problem all across the academic board.
In my experience thought processes occur largely without my noticing. Only when the answer to a question is presentable in words it pops up in my thoughts again (meanwhile it does require some little nudging). Spot-on questions receive spot-on anwers. Some preliminary hit-and-miss is unavoidable but it's not the same as conjecturing.
I have applied this "method" to very old poetry (at tenth reading still beyond me) and gotten results that have led me to believe that these poets used to play games with their audiences in order not just to MAKE them think but to TEACH them how to do it. Also that their reputation as founts of wisdom (partly perhaps mainly) derived from this ability.
Furthermore I have noticed that all through my education NOT A SINGLE TEACHER has contributed a flea's weight to the quality of my thinking. Rather the reverse. I can only assume that my fellow-students fared the same.
Putting 1 and 2 together I have come to the conclusion that we should reinstall Classical Poetry into our curricula from the students' earliest possible age. It migt create the critical mass that rises above groupthink and keeps society sane.
I feel you would benefit from Charles Fort and Colin Bennet. Bennet now deceased has a website combatdiariesuk.com. Fort long deceased collected and published anomalous items demonstrating how social hypnosis works. His work is online. Internet Archive. Bennet also worked with social hypnosis.
Glad to see you brought up Flouride in municipal drinking water, that went mainstream in the former USA in the 1950's. If you want to really see the peogreSSive Insanity, just TRY to take flouride Out of the drinking water. The Proggies will "Foam at the Mouth!!! beyond anything imaginable over possible "tooth decay"???? Try it and See, Comrades.
If that was true, the Romans would have never switched to the colonus system. A slaver wanted his assets to last, so they had to treat their slaves in a more humane manner than corporations do today, because they consider everyone replaceable. Therefore, slavery is less lucrative than modern slavery through taxes and, basically, forced labor.
Ultimately, it's all slavery for the lower classes, only the names change.
Slavery in the US ended in 1865 with the 13th Amendment, and serfdom ended in Russia only a year later. Serfs had about the same status as slaves; they were assets, just like citizens are treated as such by governments these days.
People tend to be more productive, if they are led to believe they are working for themselves, so slavery had to go. Still, these days, taxes turn people into slaves and the property tax ensures you already "own nothing."
The British pound is the oldest fiat currency in existence at 321 years. The pound was originally defined as 12 oz. of silver. It's now worth less than 0.5% of its original value. In other words, the most successful long standing currency in existence has lost 99.5% of its value.
The USD became fiat in 1971.
Silver was removed from coins in 1964, I assume the US Treasury Silver Certificates as well and Federal Reserve Bank "Notes"replaced them.
A "paper" money solution is available in Gold Certificates where gold threads are woven into the paper in porportion to the denominated value of the certificate.
https://www.moneymetals.com/buy/gold/goldback-currency
If this was done by the Treasury then it would be accepted by the public. Alas, a Real Republic would be needed to implement such rational money.
And a 1964 90% silver half dollar coin is now selling about 38 times its original demonination...
main reason was the entry into depletion for conventional crude oil. 11 million barrels per day in 1970, production starts falling, profits falling, EXPORT EXPORT. 3 or 4 million barrels per day now in 2023. Unconventional tight oil was known at the time but not obtainable. That is also now entering the down slope of depletion as we speak, the end of globalism.
https://d32r1sh890xpii.cloudfront.net/tinymce/2020-06/1592519397-o_1eb4oqs6j1nse1v901i6f1s04do58_large.jpg
The main reason for what?
'Self evident' means 'I know nothing about chemical processing and speak from brash assumptions'.
Frank,
Please, explain what you are trying to say. It's beyond me. :)
My reply was to the other gentlemen, not you.
My mistake. Still, you and I concur on No3p's entry. :)
Strange
My reply was to Steigel and his 'self evident labor' comment.
It's obvious by way of education and experience that he has zero understanding of Chemical Engineering.
But yes, we do agree on the aforementioned entry. 😊
Frank,
Your contributions are usually helpful, which is why I was bumfuzzled at your comment. Please, don't expect readers to know what you know. It happens to have been my most frequent mistake, and history (or, even historians,) doesn't have to repeat itself.
Thank you for the explanation.
I remember playing online about 15 years ago and beating a high school teacher of chemistry without an effort. That's quite sad, because I've never been much good in the traditional paradigms of chemistry and biology (I found both incomplete at best, totally contradictory at worst). Still, it would be most helpful, if you provided a simple explanation in order to avoid further confusion for those, who are not particularly well-versed in the art of chemistry.
Chasing profits was just the ways and means committee in action for chopping the productive sector of the US work force up into pieces to transition into service oriented job landscape to cater to all that remained- consumers. Sort set the stage for the snake eating its tail.
Great plan if the plan is to kill the beauty of innovation and life on the macro scale.
I’m grateful for the few bright and shiny friends here.
Because the 'lawmakers' invested in overseas companies, and then destroyed US companies through legislation, to profit through their oversea investments.
Destroying the filament lightbulb industry is just one example.
Yes, and it all boils down to incapacitating Americans. The "(s)elected" legislation is only a humble servant for the project.
And it is NOT about profits, as the article suggests.
Filament light bulbs are LED, which is deadly.
I wasn't very clear, and I apologize; They banned the Edison lightbulb so that they could force the Chinese CFL lightbulb on us. Talk about an environmental disaster those things were!
Yes, that's what I mean. It has become a drag to buy incandescent.
LED can emit deadly pulses through the electric grid, and it can be combined with mil-grade tech that kills even faster...
https://rayhorvaththesource.substack.com/p/the-infernal-light-part-two
I did not know this, but felt this! I've told my husband LED can't be good for us, because I often have a physical reaction to them. Thanks for sharing this here, going to do some more reading. 👍 💡
I think that the spectrum of the light is a major factor in a lot of things, including just simple perception. Full spectrum light is most natural, and I find it most pleasant.
I like to avoid the 'cool' shades because they have an abundance of blue light. Anything that emits UV-A is best avoided for a host of reasons. I had a Growlux incandescent light in my study and controlled it with a dimmer. Again too, avoid blue light around bedtime.
https://justgetflux.com
Thank you, Frank.
The bolsheviks blamed the kulak farmers of Ukraine, which led to the famine of 1933. I can see erie parallels with the freedom convoy in Canada, and the overall whitewashing of rednecks as trailer trash. Nature doesn't forget, and doesn't forgive. Nature just is, and will be teaching us all a hard lesson in self-reliance soon I believe.
Yeah, in terms of agriculture, I had the same association, the Ukraine, but this is a simple article meant to be easy to understand. Delving into history wouldn't have helped.
Truckers have been targeted in California, too, trying to force them into corporate employment, which is going to create further food shortages, just like government-enforced price-ceilings do. It's all part of the 2030 plan.
Globalists inner cabal is interacting as though currency we know of as "money" is really no object to them.
They call themselves Stakeholders, engaging in their Stakeholder capitalism. This is an economy of power; it relies on "compliance" as currency, the coin is Loyalty. Members of this exclusive Criminal Family go to great lengths to keep both money and power. They want to exercise brutal government control over everyone. The answer to this is Self Reliance. Growing your own food, making your own goods.
... and above all not needing any sort of medical doctors.
I'd love to subscribe to your site, but you haven't published anything yet. If you need help, I would volunteer to help you free of charge. Your contributions in my comment sections show that you have a lot to say and you've "got it right" as far as such a thing is possible from time to time.
You have a totally different angle from mine, which is good. Still, all roads lead to the same destination as long as one honestly pursues the path of seeking out the truth.
Sadly, I can't see how self-reliance will be possible. The noose is actually tightening.
https://rayhorvaththesource.substack.com/p/a-shortlist-of-whats-coming
Even getaway plans are hopium:
https://rayhorvaththesource.substack.com/p/do-you-have-a-getaway-plan
It is a very nuanced line, and that’s why it works so well. Makes plausible deniability easier on all sides. The dependent majority, the ‘useless eaters’ in some eyes, do have culpability as well. It’s a relationship, the master-slave dynamic. Sure, lots of it is beyond our control and puts us in a ‘victim’ status--like the chemtrails, the fluoride, the crimes against us as children, etc. But some of this Americans have done to themselves even as the evidence and the alternatives present themselves all around. The programming is severe, but much of the prison is of the mind and still escapable. Perhaps for a limited time only.
For the readers, here is Mishelle's site, and it's highly entertaining (for some reason, she didn't particularize):
https://kenshohomestead.org/
I find most of Mishelle's memes hilarious (remember, it is her stance, but happens to be quite close to mine and I never fully agree with anyone and don't expect anyone to agree with me).
***
In response to your comment, Mishelle, you might want to also consider the following:
Yes, the smallest prison is in the mind:
https://rayhorvaththesource.substack.com/p/the-imprisoned-mind-from-fear-and
Beyond that, however, certain general rules apply.
Civilizations always default to the same setup, and I believe, I am the only one who has been pointing it out worldwide since 1992. Other "academics" would have been invited to Harvard for less, but my knowledge has never been for sale; it is available for all those, who want to know:
https://rayhorvaththesource.substack.com/p/apocalypse-now
Not sure how far culpability can be pursued:
https://rayhorvaththesource.substack.com/p/crime-and-punishment
The roles are tricky now: the victim, the torturer, and the rescuer roles are rotating dynamically, no matter which side of the wall someone is.
In the plandemic, everybody is a potential victim and a potential rescuer, but the saviors vary. For some, it’s Fuxxi, for others, it’s a politician, Dr. Whoever, another “scientist,” a whistleblower or some other kind of “truth-teller.”
The common denominator among these players is that the people are declared to be helpless, which most of them even believe. They are hell-bent on finding a rescuer who are either as fake as the plandemic or as powerless as the victims themselves.
The victim role also varies: some believe they are infected by a “virus,” others believe it’s all the fault of the injected or the uninjected, and the most observant ones realize they are victims of a globalist scheme.
People, no matter how powerless they might be, can declare themselves saviors, mostly by “telling the truth,” although that sort of thing has never made a difference in history. Only those in power can change things, and they change things only if they can be convinced that specific changes would be advantageous for them, as it happened when Confucian meritocracy was introduced in China 2,500 years ago or during the proliferation of denominations during the Christian Reformation.
The option of dynamically switching roles makes the game entertaining, rewarding, and addictive. The addictive pattern comes from the isolation of a segment of personal experience, where the person enjoys cognitive security (because everything is predictable), a sense of victimhood, or a real or imaginary role of one in power.
Bwahahaa!
Thanks Ray!
Laughter is the best medicine
Yes, Mishelle is fantastic! :)
I don't understand why she didn't insert the link. I had to recover it from her profile...
I think not 80's but 70's. Or earlier. Japan, Inc. Steel factories built overseas. In the 1970s, many U.S. corporations began to shut down their plants in high wage areas and relocated them in the newly industrialized, cheap labor areas of South Korea, Hong Kong, Taiwan, and Singapore. Low-skilled workers in U.S. industry have experienced the biggest losses.
Steel is a low skilled labor endeavor?
Self evident the labor could be more profitability offshore. The outsourcing and offshoring trend began in the 60s and 70s as large corporations transferred their manufacturing processes to lower-cost countries. General Electric was one of the pioneers of outsourcing at the time.
Other chief examples are US firms that moved production to factories in Mexico under the Maquiladora system. A maquiladora is a manufacturing plant or factory licensed to operate under Mexico’s Secretariat of Commerce and Industrial Development.
Maquiladoras were built in the 1960s to encourage foreign investments and ease unemployment problems in Mexico. Employment in maquiladora increased from roughly 200,000 in the 1980s to over 1 million jobs in the late 90s. Other countries soon followed and took advantage of the system. In fact, many manufacturing companies in Japan produced goods under the maquiladora system in the 1980s.
Over time, offshore manufacturing moved to other lower-cost countries like India, China, the Philippines, and Eastern Europe. Despite the high costs of transportation, duties, docks, and brokers, most of these companies found that a 30-50% labor cost reduction is enough to compensate for these expenses.
Insight here from Pittsburgh: https://history.rutgers.edu/docman-docs/undergraduate/honors-papers-2012/400-solidarity-lost-the-deindustrialization-of-pittsburgh-in-the-1980s/file
I wasn't sure about the dates, but logically, it must have started after the fiat dollar was introduced in 73.
Destabilization and balkanization, of course, had to be global.
Mercantilism would have worked in the US; after all, we are a different continent. The way everything has been being destroyed would have worked for foreign cheap labor, too, but since 2001, I have had this eerie feeling that the masters don't even live in America anymore.
Please excuse me if I am wrong but did the fiat currencies ($ & £) not start in 1971?
Yes, my mistake, 71.
The British Pound as a fiat, is like 321 years old...
I tell ya I would not bat an eye if they lived off world at this point. Or if they simply were a parasite gone wild selectively breeding in humanity. Charles Fort did a good job of demonstrating that mastery lay in narrative control. Covid demonstrated the Sufi psychology that man is just an animal unless he has a guide goes deep into monkey mind and imitative behavior to the extinction level event done for many reasons by many hands utterly indifferent to means are ends in themselves. Offshoring in One World - Brave New World - as conceptualized by forums meetings and public policy was always driven by profit and power and never by local needs.
By human technology, they cannot even fly to the Moon:
https://rayhorvaththesource.substack.com/p/moon-landing-bluffing-is-a-good-weapon
And I don't believe in extraterrestrials. Prefer Santa or even the Tooth Fairy. :) It is a setup.
Any news about the phone?
Most people are exclusively conditioned; nobody can help them. Perhaps that's what the technocrats had in mind from the beginning.
From a cognitive point of view, I believe, I have resolved the problem of free will; yes, I have a big mouth, but it's true:
https://rayhorvaththesource.substack.com/p/i-have-solved-the-question-of-free
The road to the light is narrow and the trip is solitary. Even in this world.
Just sent mail.
Have you read Charles Fort?
In his 1962 book The Structure of Scientific Revolutions, Thomas Kuhn - the paradigm shifting philosopher of science - proposed that science was essentially sociological, and like all sociological endeavors was informed by a type of group-think akin to religious conversion. Almost half a century earlier, as Colin Bennett points out on his compelling Fort bio Politics of the Imagination, Charles Fort had hammered home the exact same theory.
Groupthink seems to be the KEY problem all across the academic board.
In my experience thought processes occur largely without my noticing. Only when the answer to a question is presentable in words it pops up in my thoughts again (meanwhile it does require some little nudging). Spot-on questions receive spot-on anwers. Some preliminary hit-and-miss is unavoidable but it's not the same as conjecturing.
I have applied this "method" to very old poetry (at tenth reading still beyond me) and gotten results that have led me to believe that these poets used to play games with their audiences in order not just to MAKE them think but to TEACH them how to do it. Also that their reputation as founts of wisdom (partly perhaps mainly) derived from this ability.
Furthermore I have noticed that all through my education NOT A SINGLE TEACHER has contributed a flea's weight to the quality of my thinking. Rather the reverse. I can only assume that my fellow-students fared the same.
Putting 1 and 2 together I have come to the conclusion that we should reinstall Classical Poetry into our curricula from the students' earliest possible age. It migt create the critical mass that rises above groupthink and keeps society sane.
Very possible. Old poets were not late Victorians. And the symbols used are deep in a culture forgotten.
No, not about Fort, but Kuhn, yes.
He sounds just about right, although my take on "science" is almost comical:
https://rayhorvaththesource.substack.com/p/freaks-of-science
Bennet sounds familiar, but I cannot place the name. I think I used him when I taught communication.
I feel you would benefit from Charles Fort and Colin Bennet. Bennet now deceased has a website combatdiariesuk.com. Fort long deceased collected and published anomalous items demonstrating how social hypnosis works. His work is online. Internet Archive. Bennet also worked with social hypnosis.
Glad to see you brought up Flouride in municipal drinking water, that went mainstream in the former USA in the 1950's. If you want to really see the peogreSSive Insanity, just TRY to take flouride Out of the drinking water. The Proggies will "Foam at the Mouth!!! beyond anything imaginable over possible "tooth decay"???? Try it and See, Comrades.
genearly.substack.com
Thank you for your input. If you have any specific articles, please, direct the readers to them.
Yes, it was all about profits.
I believe, facts are showing it was part of the process... That's what the article is all about...
And no other system has proven more effective for generating profits than slavery.
If that was true, the Romans would have never switched to the colonus system. A slaver wanted his assets to last, so they had to treat their slaves in a more humane manner than corporations do today, because they consider everyone replaceable. Therefore, slavery is less lucrative than modern slavery through taxes and, basically, forced labor.
Ultimately, it's all slavery for the lower classes, only the names change.
Ah but would slavery by any other name would smell so oblique!
Slavery in the US ended in 1865 with the 13th Amendment, and serfdom ended in Russia only a year later. Serfs had about the same status as slaves; they were assets, just like citizens are treated as such by governments these days.
People tend to be more productive, if they are led to believe they are working for themselves, so slavery had to go. Still, these days, taxes turn people into slaves and the property tax ensures you already "own nothing."
You expanded the historical and contextual meaning in my warped plagiarized Shakespeare quip ! Thank you :)