The FRMS Castellon was conducted on April 4th, 2022, at Real Casino Antiguo de Castellon. Edgar Fernández of Tercio Capital delivered the event’s opening remarks.
Fernández’s opening remarks were followed by a panel discussion featuring Luis Gómez Fernández of the Juan de Mariana Institute, Dan Mitchell of the Center for Freedom and Prosperity, and Scott B. Nelson of the Austrian Economics Center. Nelson discussed the lessons of Greek historian Thucydides and how they apply to geopolitical events today. War tends to develop on its own, which has been the case in the Russia-Ukraine war. Nelson compared Thucydides’ episode of Mykalessus with Europe in the present. Since World War II, Europe has been too reliant on the United States for its defense. Human nature and man’s desire for power is a constant throughout history, and still applies today as war is by no means obsolete.
Nelson discussed the concept of realism and current geopolitical debates. Will there be a 2nd Cold War between the United States and China, despite strong economic relations between the two nations? Will China attempt to conquer Taiwan, given the world’s response to the Russia-Ukraine war? If China does invade Taiwan, will the United States respond with sanctions the same way it has with Russia? There is a misconception that the Russia-Ukraine conflict is a war between democracy and totalitarianism, as some democracies have yet to condemn Russia in the UN.
Dan Mitchell then discussed how higher energy prices are going to lead to more reliance on nuclear energy and coal. Sanctions in general are not effective, as nations such as Iran find means around them. This time, however, the West has been united in its sanctioning of Russia, so the sanctions could be effective. Mitchell argued that protectionism is ineffective, as it is essentially a “self-sanctioning”. The United States has been harsh on Russia, which sends a strong message towards China. Fernández then spoke of Germany’s lack of a contingency plan in terms of energy. Germany has been heavily dependent on Russia and now needs a new energy solution before the winter.
Next was a panel discussion featuring journalist, historian, and political commentator Fernando Diaz Villanueva, and Domingo Soriano Sánchez of Libertad Digital. Villanueva discussed Oswald Spengler’s “The Decline of the West”, historicism, and Goethe’s Faust. Villanueva claimed that the West should be understood more as the Greco-Roman world, small. In terms of the Greco-Roman world, Russia is actually more Western than the United States.
The final event of FMRS Castellon was a panel discussion involving former professional basketball player Juanjo Ayuso, Edgar Fernández, and Jose Manuel Cabello of the University of Málaga. The panel discussed the psychology of money, fiscality, and the effects of inflation. Over the years, the price of inflation is much greater than what is calculated. The panel discussed how countries with a flat tax have seen a growing GDP per capita. The panel then discussed Austrian Business Cycle Theory and its relation to the long production processes of oil and gas.
FMRS Castellón – Program
6:00pm – 6:05pm
Edgar Fernández, Tercio Capital – Seeking financial indepence in western countries