Monday, 11 December 2017

Monthly Archives March 2012

Digging Up and Digging Down Gold

March 30, 2012
in Blog

The Gold Standard is the worst standard, except for all the others. In a recent post at Nada es Gratis (Nothing is Free), Jesús Fernández-Villaverde discusses a visit to the vault where gold is stored at the New York Fed. The post and subsequent comments evolve into some criticisms of the gold standard. I won’t […]

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Class Dismissed

March 30, 2012
in Blog

We hear all about the fading middle class, but the fading UPPER class? It seems like the only class doing well is the Political class. by Devin Roundtree It is true that the poor have gotten poorer, but so have the rich. Despite what government statistics say, incomes across the board are not at historic […]

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Problems Facing Every Monetary System

Posted by admin
March 30, 2012
in Blog

by Kurt Schuler Readers of George Selgin’s post just below should be aware that there is a an extensive comment section about it, including a few of his own remarks, over at Marginal Revolution. Now, on to what I promised to discuss in my last post, some time ago. Every monetary system faces a number of major […]

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Bernanke Lecture IV Decrypted: Inflation = 20, Stability = 17, Progress = 1

Posted by admin
March 30, 2012
in Blog

…Sound Money = 0 Submitted by Tyler Durden The lecture series is complete and Ben can creep back behind the green curtain once again. Today’s lecture focused on the aftermath of the crisis and a quick summary of just where Bernanke believes the recovery lies – Fed 95: Government 11. Unfortunately the word ‘Progress’ only appears once. […]

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Sound Money Interview Series: Dr. Thomas Rustici

Posted by Gonzalo Schwarz
March 28, 2012
in Blog

What’s the point of saving the banks if you’ve got to destroy money to do it? We sat down with Dr. Thomas Rustici from George Mason University and discussed his speech “Thinking the Unthinkable” about the coming demographic and fiscal crisis and the possibility of hyperinflation in America, and his plan to begin moving the […]

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Unexpected Expectations

March 27, 2012
in Blog

Expectations are a key concept in economics. If expectations are coordinated, then the economy is equilibrated and no accumulation of imbalances take place. Rational expectations, more particularly, sustain that even though errors are possible, they shouldn’t be systematic. Namely, a given agent does nos systematically repeat his mistake, and all agents cannot be fooled on […]

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No Inflation? Don’t Make General Mills Laugh

Posted by Gonzalo Schwarz
March 27, 2012
in Blog

From ZeroHedge: Repeatedly, all we hear is that Zero Hedge is just some wing nut website. Always stretching the truth about the economy’s woes, and constantly claiming hyperinflation is just around the corner. Ya, about that… General Mills came out Wednesday with their Q3 earnings, and what do you suppose was one of the top points they wanted to make to […]

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Dear Mr. Geithner…

Posted by Gonzalo Schwarz
March 25, 2012
in Blog

“To return to sound money, we need to return to the monetary system our founders intended.” By Ron Paul Before the United States House of Representatives, Committee on Financial Services, Hearing to Receive the Annual Testimony of the Secretary of the Treasury on the State of the International Financial System, March 20, 2012 Mr. Chairman, […]

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Bernanke Lectures at GWU, Tells the Truth

Posted by Gonzalo Schwarz
March 23, 2012
in Blog

At least when he introduced himself as “Ben Bernanke.” Then it went downhill. by Jacob G. Hornberger In a recent lecture to an undergraduate class at George Washington University, Federal Reserve Chairman Ben Benanke, not surprisingly, blasted the gold standard and praised paper money and the nation’s central bank, the Federal Reserve. He said that […]

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Anti-Bernanke

Posted by admin
March 23, 2012
in Blog

by George Selgin Despite the bright light streaming into my office window, reminding me of the beautiful spring weather here in Athens, I managed to spend most of yesterday afternoon listening to the first installment of Ben Bernanke’s 4-part lecture series on “The Federal Reserve and the Financial Crisis.” The lecture took place on Tuesday evening at […]

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Cracks in the Fiscal Dam

Posted by Tyler Watts
March 22, 2012
in Blog

by Tyler Watts I’ll admit it: we fiscal hawks are increasingly mystified that things haven’t blown up yet for Uncle Sam. The Fed has held interest rates at zero for almost 3 ½ years now, and the inflation rate hasn’t exploded—even though people are noticing price increases all around, Bernanke & company can still claim […]

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Ron Paul and the Martian Atmosphere Machine

Posted by admin
March 22, 2012
in Blog

“Bernanke, give these people air!” by John DeFeo Ron Paul has staked his presidential hopes on a few key issues, among the most prominent being monetary policy. The feisty Texas congressman has had his share of ideological head-butting with Federal ReserveChairman Ben Bernanke, but if these encounters have generated a few amusing sound bites, they have failed […]

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Recovery or Unsustainable Boom?

March 21, 2012
in Blog

When you can’t be sure, remember that whatever the government tells you… it’s the opposite. The Economist reports that: “THERE are tantalising signs of good news in the world economy. In America firms are hiring more and consumers are spending more. The euro zone’s recession is proving milder than expected. Greece’s debt restructuring, the first […]

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Do Government’s Love Debt Even More Than War?

Posted by admin
March 21, 2012
in Blog

Right now it’s a race, and though it’s hard to tell who’s winning, it’s obvious who’s losing. Submitted by Tyler Durden from ZeroHedge In a succinct and chart-laden presentation, Professor Antony Davies, of Duquesne, offers a simple perspective on just how bad things are for the US (in terms of debt or obligations). Putting the interest […]

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U.S. Stock Market Craves Price Inflation

Posted by Gonzalo Schwarz
March 19, 2012
in Blog

More addictive than nicotine and Words With Friends. by Charles Rowley One knows that the good times are here again when U.S.  stock market prices increase on the basis of significant improvements in real output across the economy.  Such was the experience  during the era of  The Great Moderation that began in 1984, in the wake of […]

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Hey Look! Green Shoots!

Posted by Gonzalo Schwarz
March 19, 2012
in Blog

This time, it will be different. Submitted by Tyler Durden The market is ripping. That much is obvious. What some may have forgotten however, is that it ripped in the beginning of 2011… and in the beginning of 2010: in other words, what we are getting is not just deja vu (all on the back of […]

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The Federal Reserve & Twitter Go Together Like Peanut Butter & Jelly.

Posted by admin
March 16, 2012
in Blog

I’m not sure it’s possible that this will ever get old. by Tyler Durden from ZeroHedge If the Fed thought it could boldly go where hundreds of millions have gone before (in a vain attempt to be cool, hip and relevant – Twitter of course – with the @FederalReserve handle naturally), all in a quest […]

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Adjustable Rate America

Posted by Gonzalo Schwarz
March 15, 2012
in Blog

The U.S. Federal Government is living on a teaser rate. It’s time for the mortgage to adjust. In its effort to raise the price of housing, the federal government has found that it must raise all prices.  Now, in an effort to fund its own spending at low interest rates, it has found that it must […]

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Sound Money Interview Series: Dr. Judy Shelton

Posted by Gonzalo Schwarz
March 12, 2012
in Blog

Treasury Trust Bonds.  Two out of three won’t cut it anymore. We sat down with Dr. Judy Shelton, Co-Director of the Sound Money Project, and discussed the US Dollar, the coming demographic and fiscal disaster, and her plan to begin moving the country back to sound money. First, what it all means in 3 minutes […]

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Dude, Where’s My Gold? Part Two

Posted by Gonzalo Schwarz
March 12, 2012
in Blog

Trust but verify…   by JAN SKOYLES Amid reports of Germany and Switzerland requesting their gold from the United States, Jan Skoyles asks why do they want it back considering their monetary policies? The repatriation of gold is a growing topic of interest since Venezuela demonstrated how much value they place on their gold reserves. […]

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Where to Buy Gold at $42.22/oz.

Posted by Gonzalo Schwarz
March 9, 2012
in Blog

Hint: It’s from your Uncle… by Gary North All guns are loaded. Never forget this. I never knew my great uncle Gerald. That’s because he was killed in an accident. His son shot him. Uncle Gerald was a hunter in Oregon. He had taught his son to regard every gun as loaded. He always was […]

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An Intro to Modern Economics: Q: “What’s the product?” A: “That is immaterial.”

Posted by Gonzalo Schwarz
March 6, 2012
in Blog

How can you waste time on production when the economy needs us to consume! Rodney Dangerfield figures out where a modern, mainstream (read: not Austrian) economist (read: policy apologist) would choose to do business.  “Fantasyland.”   image: www.flickr.com/jvoves

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Would the Real Gold Standard Please Stand Up?

March 5, 2012
in Blog

“Bears are animals. Animals have four legs. Chairs have four legs. Therefore, chairs love honey.” What’s wrong with this logic? Don’t ask opponents of the Classical Gold Standard… The gold standard debate has seen a spike recently in different blogs (Bruce Bartlett, David Beckworth, David Glasner, Blake Johnson, Kurt Schuller, Scott Sumner, David Glasner, George […]

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U.S. Feeling Pressure From North Korean Competition

Posted by Gonzalo Schwarz
March 5, 2012
in Blog

Heading into the last lap, the U.S. government was surprised to find North Korea gaining on them in the race to destroy the dollar. In unrelated news: politicians, banks, weapons companies, and cognac makers are not feeling the global depression for some reason… By David Wolman PHOTO-ILLUSTRATION BY TIME U.S. negotiators are heading into a second […]

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Geithner Pens Another Ridiculous Op-Ed

Posted by Gonzalo Schwarz
March 2, 2012
in Blog

Remember how every bank under my supervision failed? That’s why I need more power. Submitted by Tyler Durden Nearly two years after his catastrophic foray into Op-Ed writing, here is Tim Geithner’s latest, this time making the hypocritical case to “not forget the lesson from the financial crisis”… which he himself ushered on America as head of the New […]

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Inflation Is A Tax And The Federal Reserve Is Taxing The Living Daylights Out Of Us

Posted by Gonzalo Schwarz
March 2, 2012
in Blog

Hurry to the store to buy your wheelbarrows before the prices rise too high! Ronald Reagan once famously declared thatinflation is a tax, but sadly most Americans did not really grasp what he was talking about.  If the American people truly understood what inflation was doing to them, they would be screaming bloody murder about […]

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The Recovery and Statism

Posted by Gonzalo Schwarz
March 2, 2012
in Blog

If you think we’re not in a recovery, it’s just because you don’t realize who is recovering. Presented by David Gordon at the 2010 Mises Institute Supporters Summit: “The Economic Recovery: Washington’s Big Lie.” Recorded in Auburn, Alabama; 9 October 2010.  

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Don’t blame the Depression on the gold standard – but don’t expect it back either

Posted by Gonzalo Schwarz
March 1, 2012
in Blog

Then again, who wants a government run gold standard anyway? by GEORGE SELGIN TWO of America’s Republican candidates – Newt Gingrich and Ron Paul – have dared to toy with the idea of bringing back the gold standard. Their remarks have in turn triggered a fusillade of indignant replies, from pundits and professional economists alike, […]

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