Saturday, 18 November 2017

Monthly Archives September 2012

The Greatest Thinker You’ve Never Read: Ludwig von Mises

Posted by Gonzalo Schwarz
September 29, 2012
in Blog

by Art Carden Had he not passed away at the tender age of 92 in 1973, Ludwig von Mises would have turned 131 years old today. In my humble opinion, he was the greatest social thinker of the twentieth century. In a series of breakthrough contributions like The Theory of Money and Credit, Socialism: An Economic And […]

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Two Legends in Economics Wrestle Over the Euro’s Future

Posted by Gonzalo Schwarz
September 28, 2012
in Blog

By Shawn Tully FORTUNE — Robert Mundell and Allan Meltzer rank among the most influential economists of the past half-century. Mundell, a professor at Columbia University, garnered a Nobel Prize in 1999, in part for his work in defining what he calls “optimum currency areas.” No academic has ever enjoyed such success seeing his theories into […]

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Death Knells for the USDollar

Posted by Gonzalo Schwarz
September 28, 2012
in Blog

by Jim Willie CB The recent decision by the US Federal Reserve to contaminate the financial body until it responds favorably was the last straw in my book. Witness a declaration of permanent QE and hyper monetary inflation of the most virulent strain, unsterilized. The USFed is essentially admitting failure. The signal serves as the loudest death knell for the USDollar among […]

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How Crony Capitalism Corrupts the Free Market | David Stockman

Posted by Gonzalo Schwarz
September 27, 2012
in Blog

Archived from the live Mises.tv broadcast, this lecture by David Stockman was presented at the Mises Circle in Manhattan: “Central Banking, Deposit Insurance, and Economic Decline.” Includes a welcome and introduction by Llewellyn H. Rockwell, Jr. Music by Kevin MacLeod. Watch more at youtube.com/misesmedia… image: flickr.com/newamerica

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Interest Rates are Prices

Posted by Gonzalo Schwarz
September 27, 2012
in Blog

by Ron Paul One of the most enduring myths in the United States is that this country has a free market, when in reality, the market is merely the structural shell of formerly free institutions. Government pulls the strings behind the scenes. No better illustration of this can be found than in the Federal Reserve’s manipulation of […]

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Iran: Down, But Not Out

Posted by Gonzalo Schwarz
September 27, 2012
in Blog

by Steve H. Hanke This article appeared in the October 2012 issue of Globe Asia. Since Mahmoud Ahmadinejad first became President of Iran, in August 2005, the country’s economy has gone from bad to worse. Iran now ranks near the bottom — 144 out of 183 countries — in the World Bank’s Doing Business 2012, an […]

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The Money Trap: Escaping the Grip of Global Finance – Reviewed

Posted by Gonzalo Schwarz
September 26, 2012
in Blog

Robert Pringle Basingstoke, UK: Palgrave Macmillan, 2012, 328 pp. To read Robert Pringle’s new book, The Money Trap, is to experience the slow joy of recognizing that someone out there in the world of intellectual propriety and academic correctness is willing to state the case that the global financial crisis can be traced in large […]

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‘Has the Fed Been a Failure?’

Posted by Gonzalo Schwarz
September 25, 2012
in Blog

by Gerald P. O’Driscoll That is the provocative title of the lead paper in the prestigious economics publication, the Journal of Macroeconomics. It is authored by George Selgin, William D. Lastrapes, and Lawrence H. White. (Selgin and White are professors, Cato scholars, and many-time participants in the annual Cato monetary conference). The journal’s editor considered […]

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Sound Money: Turkey’s Cure for Oil Dependence

September 25, 2012
in Blog

By Devin Roundtree With so much havoc among European nations, Turkey has attracted headlines recently as Europe’s fastest growing economy and the remaining shining star of investment grade on the continent. Though, as CNBC reported, rising oil prices threaten the country’s economic outlook. When it comes to oil dependence, Turkey upstages even the U.S. by […]

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QE3: Sowing the Wind

Posted by Gonzalo Schwarz
September 25, 2012
in Blog

by Frank Shostak The US central bank announced on Thursday, September 13, 2012, that it will expand its holdings of long-term securities with open-ended purchases of $40 billion of mortgage debt a month as it seeks to boost economic growth and reduce unemployment. In his press conference, following the conclusion of a two-day meeting of the […]

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Germany Eyes Gold Standard

Posted by Gonzalo Schwarz
September 24, 2012
in Blog

Editorial of The New York Sun | September 22, 2012 It would be too much to say that the government of Free Germany, as we are still wont to call it, is taking steps toward the gold standard. After all, no committee beckons in the Bundestag. The government is entangled with Spain and Greece and […]

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China’s Preparing for the End Game – Are We Paying Attention?

Posted by Gonzalo Schwarz
September 20, 2012
in Blog

  Written by Christopher K. Potter For three thousand years China has been at the forefront of monetary innovation.  It was the first to legalize gold money in the tenth century BC and two millennia later it issued the world’s first paper currency.  Fast forward to 2012 and China is at it again, eclipsing Australia […]

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The Case for Gold

Posted by Gonzalo Schwarz
September 20, 2012
in Blog

By Rep. Ron Paul and Lewis Lehrman ABOUT THE (FREE E-)BOOK by Mark Calabria The economic crisis of the past several years — including unchecked government growth and spiraling debt — illustrates the danger we face from living beyond our means and building upon unsupportable economic foundations. Warning signals were already being sounded nearly 30 years […]

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The Federal Reserve Dissenters

Posted by Gonzalo Schwarz
September 20, 2012
in Blog

Richard Fisher and his allies at the Fed are a fine talent pool from which a new sound-money chairman might be drawn. By ROBERT L. POLLOCK The Federal Reserve’s near-zero interest rate policy has come in for a lot of criticism of late. Savers young and old are angry about paltry returns. Free-market advocates complain about […]

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What Would it mean to End the Fed?

Posted by Gonzalo Schwarz
September 18, 2012
in Blog

What would it mean to “end the Fed”? Professor Larry White says that in order to know the effects of such a measure, we must first understand the role of “the Fed”. The Federal Reserve is the central bank of the United States and the institution at the center of the nation’s monetary and banking […]

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The Economists’ Alternative to Bailouts

Posted by Gonzalo Schwarz
September 18, 2012
in Blog

by Garett Jones I’m still shocked at the speed with which bipartisan elites coalesced around TARP. A key reason: The proffered alternatives were incredibly painful. No bailouts would have meant bankruptcies much bigger and more complicated than Lehman–and that bankruptcy ostensibly threatened short run cash flows around the world. Voters don’t want pain. Yes, some voters want to […]

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Art Cashin On The New Normal’s New Populism: 165 Million As State Dependents?

Posted by Gonzalo Schwarz
September 18, 2012
in Blog

Submitted by Tyler Durden   Some must read observations on the dangerous path down which American society is headed. Via UBS Financial Services A Somewhat Ominous Op-Ed Recalls A Manufactured Ominous Quote – An op-ed in Forbes last week by Bill Wilson is causing some buzz in Wall Street watering holes. Its title is “165 Million Americans […]

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A Road to Prosperity

Posted by Gonzalo Schwarz
September 17, 2012
in Blog

The case for a modernized gold standard. By LEWIS E. LEHRMAN   Gold, a fundamental, metallic element of the earth’s constitution, exhibits unique properties that enabled it, during two millennia of market testing, to emerge as a universally accepted store of value and medium of exchange, not least because it could sustain purchasing power over the […]

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Why QE3 Will Fail

Posted by Gonzalo Schwarz
September 17, 2012
in Blog

by Murray N. Rothbard   Study of business cycles must be based upon a satisfactory cycle theory. Gazing at sheaves of statistics without “prejudgment” is futile. A cycle takes place in the economic world, and therefore a usable cycle theory must be integrated with general economic theory. And yet, remarkably, such integration, even attempted integration, is […]

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The San Fran Fed Asks What People Think Of QE3: The People Respond

Posted by Gonzalo Schwarz
September 17, 2012
in Blog

Submitted by Tyler Durden   On Friday, the San Francisco Fed, best known for such cutting edge research as “Why Is Unemployment Duration So Long?” (turns out it was Bernanke’s fault), “US Household Deleveraging” which concluded incorrectly that “Going forward, it seems probable that many U.S. households will reduce their debt” (turns out completely wrong as […]

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Let’s Have the Debate on Gold

Posted by Gonzalo Schwarz
September 14, 2012
in Blog

If you criticize the gold standard without knowing what it is, you may look dumb. by Kurt Schuler Steve Horwitz has a post at Coordination Problem. Since he has not brought attention to it here, I will do it for him. I detect in the article to which Steve was replying, and in other recent […]

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Would a Gold Standard Encourage Investment and Saving?

Posted by Gonzalo Schwarz
September 14, 2012
in Blog

Going onto Gold would be like pulling the football away from the Fed (Hint: the football, in this case, is a metaphor for the economy). Lehrman Institute chairman Lewis E. Lehrman talks on Fox on returning to the gold standard.     Watch the latest video at video.foxbusiness.com image: flickr.com/niallkennedy

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The Perverse Effects of Easy Money

Posted by Gonzalo Schwarz
September 14, 2012
in Blog

by M.C.K. With a few noteworthy exceptions, mainstream academic economists failed to anticipate that the global financial crisis and ensuing collapse of output was even possible. There are several legitimate explanations for this failure, including bad incentives among economists and the absence of a realistic financial system in standard macro models. The most unconvincing excuse, however, […]

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What is the Fed’s Future?

Posted by Gonzalo Schwarz
September 5, 2012
in Blog

“Rep. Ron Paul sponsored this Congressional lecture on “What Is the Fed’s Future?”, the final lecture in a three part series on the Federal Reserve System for Congressional staff. As a continuing educational tool this lecture was filmed and is provided to the public. The lecture was delivered by Dr. Roger Garrison, Professor Emeritus of […]

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