Saturday, 30 August 2014

Monthly Archives August 2012

The Gold Standard Goes Mainstream

Posted by Gonzalo Schwarz
August 30, 2012

By SETH LIPSKY An under-reported development of this campaign season is the Republican Party’s decision this week to send Gov. Mitt Romney into the presidential race on a platform effectively calling for a new gold commission. The realization that America’s system of fiat money is part of its economic problem is moving from the fringes of […]

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Ezra Klein Mistakes the Arsonist for a Firefighter

Posted by Gonzalo Schwarz
August 30, 2012

by Steven Horwitz In Friday’s Washington Post, Ezra Klein raises a number of criticisms of the gold standard using as his hook the call for a new Gold Commission that appears in a draft of the new Republican Party platform.  Putting aside the question of party politics and what a new Commission might do, Klein’s arguments against the […]

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Gold as a Medium of Exchange and Savings

Posted by Gonzalo Schwarz
August 30, 2012

Written by Lewis E. Lehrman Consider the natural properties of gold.  Gold is durable, homogenous, and fungible.  Indeed, by its intrinsic scientific nature, gold is imperishable, indestructible, and malleable.  Gold has a relatively low melting point, facilitating coinage.  Gold is portable and can be readily transported from place to place in exchange for other articles […]

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Sound Money Gains a Champion

Posted by Gonzalo Schwarz
August 28, 2012

BY JUDY SHELTON   What are the chances that President Barack Obama and his Treasury secretary, Timothy Geithner, will ever have anything meaningful to say about monetary policy​—​beyond continuing to try to coax Federal Reserve chairman Ben Bernanke to print ever more dollars to buy up ever more U.S. government debt? About the same as the […]

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Money: East vs. West

Posted by Gonzalo Schwarz
August 28, 2012

By Steve H. Hanke A country’s money supply is made up of two distinct components. State money — the monetary liabilities of a central bank (typically referred to as base, or high-powered, money) — is one element, and is by far the smallest component of the money supply. The second and most important component of […]

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How Big Should the Banks Be?

Posted by Gonzalo Schwarz
August 23, 2012

Simon Johnson has a piece at Bloomberg today that urges the Romney/Ryan ticket to make reining in the big banks a major campaign issue. (Thanks to Michael Brendan Dougherty.) Oddly enough, Johnson makes some good points. (Forget his stuff about how great Teddy Roosevelt’s trust-busting was, and that the firms in question were exploiting the consumer; prices […]

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