Tuesday, 12 December 2017

Monthly Archives October 2012

Sound money champions (from my album)

Posted by Alex Chafuen
October 30, 2012
in Blog

    Over twenty years ago, Atlas hosted these sound money champions to discuss “Currency boards.”  Pictured here from left to right, Jose María Ibarbia, who pushed for sound money as an Argentinean Congressman, a student of Dr. Hans Sennholz, at Grove City College; Dr. Alberto Benegas Lynch Jr., Prof. Julio Cole (now at UFM […]

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What You Should Know About Inflation

Posted by Gonzalo Schwarz
October 30, 2012
in Blog

by PaulC During Henry Hazlitt’s tenure as a business columnist for Newsweek, he was frequently asked by his readers for an explanation of the cause of inflation and how they might protect themselves from its continual erosion of their savings.  What You Should Know About Inflation is the result of those requests.  Although first published in 1960, […]

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China Grasps Value of Gold, Even if U.S. Doesn’t

Posted by Gonzalo Schwarz
October 29, 2012
in Blog

by Roll Call Staff In the first presidential debate, both candidates portrayed themselves as innovative problem-solvers pursuing creative avenues to “grow” the American economy. Interestingly, GOP nominee Mitt Romney did not mention his party’s most creative idea, laid out at the Republican National Convention in Tampa, Fla.,: creating a national monetary commission “to investigate possible […]

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Prof. Steve H. Hanke: Three Options to Restore Value of Iran’s National Currency

Posted by Gonzalo Schwarz
October 26, 2012
in Blog

Interview with Steve H. Hanke By: Kourosh Ziabari   Iran Review  October 25, 2012 Targeted with the biting sanctions of the United States and European Union over its nuclear program, Iran’s economy is experiencing difficult and breathtaking days. The import of vital goods, including medicine and foodstuff is being impeded, the energy, insurance, transportation and industrial […]

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Iran’s Death Spiral – II

Posted by Gonzalo Schwarz
October 25, 2012
in Blog

Is the Rial cooked? by Steve H. Hanke My October 2009 Globe Asia column was titled “Iran’s Death Spiral.” In light of the recent events that have transpired in Iran, I think I might have been onto something back in 2009. Since early September, there has been an accelerated slide in the value of the […]

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Gold Can Save Us From Disaster

Posted by Gonzalo Schwarz
October 24, 2012
in Blog

by Steve Forbes A new gold standard is crucial. The disasters that the Federal Reserve and other central banks are inflicting on us with their funny-money policies are enormous and underappreciated. An unstable dollar is wreaking havoc on our capital markets, depriving us of money for productive enterprises and future enterprises while subsidizing government debt […]

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Book Review: John Allison’s The Financial Crisis and the Free Market Cure

Posted by Gonzalo Schwarz
October 23, 2012
in Blog

by John Tamny BB&T Bank has long been revered by those who think government has grown too close to the financial services industry. Led from 1989 until 2009 by the publicly libertarian John Allison, he took over as CEO when it was a small ($4 billion in assets) player in banking, and built it into a $152 […]

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A “Kleinian” Version of Austrian Business Cycle Theory

Posted by Gonzalo Schwarz
October 19, 2012
in Blog

by Gene Callahan The next phase in my (now our, as I’ve taken on a colleague) project of thinking through Dan Klein’s Knowledge and Coordination is to see how his ideas might be used to help describe business cycle theories and demonstrate commonalities they share. Note: the point of the present exercise is simply to try to describe […]

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Hanke Uncovers Iranian Currency Hyperinflation

Posted by Gonzalo Schwarz
October 19, 2012
in Blog

By Ben Kupferberg  Steve H. Hanke, Professor of Applied Economics and Co-Director of the Institute for Applied Economics, Global Health, and the Study of Business Enterprise, and his team of 10 undergraduates, known as the bullpen, were the first ones to come to the realization that Iran was undergoing hyperinflation after studying the black market exchange […]

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Money Printing is the Only Thing Keeping the System Afloat

Posted by Gonzalo Schwarz
October 19, 2012
in Blog

By Alasdair Macleod Last Monday GoldMoney published my article showing the frightening growth in money-quantities for the US dollar. In that article I stated that the hyperbolic rate of increase, if the established trend is maintained, is now running at over $300bn monthly, while the Federal Reserve is officially expanding money at only $85bn. The first […]

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Memo to Mitt: Take Ben Bernanke’s Resignation On Day One

Posted by Gonzalo Schwarz
October 18, 2012
in Blog

by Ralph Benko One of the latent issues of the 2012 presidential race is a referendum on the Bernanke Fed.  If Romney is in, Bernanke is out.  Jeffrey Bell, a colleague at American Principles In Action and a high octane analyst, observes, “It is crucial for Romney to invite Mr. Bernanke’s resignation immediately upon his […]

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Gold: The Least Imperfect Medium of Exchange

Posted by Gonzalo Schwarz
October 17, 2012
in Blog

by Lew Lehrman The high value but relatively low melting point of gold, compared to other precious metals, made it the most practical, readily available, monetary coin of enduring, efficient, modern, commercial utility.  A single ounce of gold is one of the most densely packed elemental values drawn from the earth’s crust.  Its relative scarcity, […]

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Money Mistakes

Posted by Gonzalo Schwarz
October 17, 2012
in Blog

  by Tom Woods As I noted not long ago, I find myself in serious disagreement with a portion of the end-the-Fed movement. This is the segment of the movement whose complaints are that the Federal Reserve is “privately owned,” that the Fed does not inflate enough, that interest payments are unjust or inherently unpayable […]

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Central Banks: Reform or Abolish?

Posted by Gonzalo Schwarz
October 16, 2012
in Blog

by Gerald P. O’Driscoll Jr. Advocates of central bank reform must examine why central banks emerged and what forces sustain them. They did not arise in an institutional vacuum, and will not be reformed in an institutional vacuum. The historical origins of central banks explain how they came into existence. The forces sustaining and feeding […]

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Inflation: Washington is Blind to Main Street’s Biggest Concern

Posted by Gonzalo Schwarz
October 16, 2012
in Blog

By Peter_Schiff Journalists, politicians and economists all seem to agree that the biggest economic issue currently worrying voters is unemployment. It follows then that most believe that the deciding factor in the presidential race will be the ability of each candidate to convince the public that his policies will create jobs. It seems that everyone got […]

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Roads to Sound Money

RoadsToSoundMoney-FINAL-IIThe Sound Money Project of the Atlas Economic Research Foundation is proud to announce the release of its newest publication, Roads to Sound Money. The project is a compilation of essays featuring some of the most visionary, yet practical thinkers on monetary policy from Atlas’s network. The essays range from reforming the fed, reinstating a gold standard as well as alternative monetary systems. The book was first presented to attendees of Atlas’ Liberty Forum in New York on October 3-4. Authors Jerry Jordan and Sean Fieler participated on a panel on the book during the event and presented their views on the matter. We now invite you to learn more about the book and discover the reforms that these authors suggest would put us on the path of sound money.

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HuffPo’s 11 Myths About the Fed, Refuted

Posted by Gonzalo Schwarz
October 15, 2012
in Blog

by Tom Woods and Bob Murphy The other day the Huffington Post ran an article by a Bonnie Kavoussi called “11 Lies About the Federal Reserve.” And you’ll never guess: these aren’t lies or myths spread in the financial press by Fed apologists. These are “lies” being told by you and me, opponents of the Fed. Bonnie Kavoussi […]

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Bad Advice for the Greeks

Posted by Gonzalo Schwarz
October 15, 2012
in Blog

 by Patrick Barron This summer Roger Bootle won Lord Wolfson’s £250,000 prize for the best advice for a country leaving the European Monetary Union (one may assume that this advice is aimed at Greece). A more statist, anti-liberal policy than his could hardly be envisioned, which is a sad commentary on the mindset of the judges […]

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Currencies: Re-evaluating the ghost of gold

Posted by Gonzalo Schwarz
October 12, 2012
in Blog

From the ChinaPost.com.tw: Imagine if, over time, as our solar system swings around the Sun, the planet Jupiter suddenly put on a tremendous amount of weight. Over time the gravitational pull of the planets — and the Sun — would begin spinning around Jupiter, causing great celestial upheavals in the process. Nobel laureate Robert Mundell […]

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Signs of the Gold Standard Emerging in China?

Posted by Gonzalo Schwarz
October 12, 2012
in Blog

by Ralph Benko As noted in last week’s column about the rising recognition by authorities in Germany about the virtues of gold, the gold standard is receiving impressive new recognition internationally. The GOP plank calling for a commission to study “possible ways to set a fixed value for the dollar” — with an unmistakable nod to gold — […]

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Paper Money = Despotism

Posted by Gonzalo Schwarz
October 11, 2012
in Blog

by Wendy McElroy “Fiat” is money with no intrinsic value beyond whatever an issuing government is able to enforce. When it enjoys a monopoly as currency, fiat inevitably turns the free market functions of money inside out. Instead of being a store of value, the currency becomes a point of plunder through monetary policies such as […]

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Not Gold, Restrictions on Bank Freedom

Posted by Gonzalo Schwarz
October 9, 2012
in Blog

Why are people (who should know better) surprised that there were problems when banks were forced to wear strait jackets? by Kurt Schuler Two sharp economists whose blogs I enjoy reading were off-base last month on a common theme, which merits correction.Stephen Williamson said of Alan Greenspan’s 1966 essay “Gold and Economic Freedom” that Greenspan “thinks that the ‘golden’ age […]

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What is Money? Krugman’s MMMF Question

Posted by Gonzalo Schwarz
October 9, 2012
in Blog

 by Mises Institute Faculty Let Me Google That for You By Mark Thornton Paul Krugman attacked Ron Paul, Paul Ryan, and “honest money” and also took a shot at Austrian economists on his blog recently. He called honest money a “Ron Paul dog whistle” and then went on to query Austrian economists on their position on money-market mutual funds […]

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Fixing the Dollar Now: Why US Money Lost Its Integrity and How We Can Restore It

_Book-Fixing-the-Dollar-Now-Cover-Final-OutlineFrom Jefferson’s early warnings to Roosevelt’s Bretton Woods and Nixon’s Camp David ‘Shock,’ Shelton’s Fixing the Dollar Now is rooted in the “need-to-know” historical foundations of today’s dollar crisis. Drawing on the hard-learned lessons of the late-18th century, she first makes clear, “There can be no question that our nation’s Founders deliberately sought to ensure that the new government…would never be able to indulge in the same monetary fraud that had brought ruin and cynicism to the individual states.”

And yet, Shelton argues the story of sound money in America has been an incremental slide away from these foundations in the name of political expediency. “[W]e need to end the practice of having our “elastic” currency serve as the default mechanism for government fiscal irresponsibility,” she writes.

Easier said than done? Shelton offers five complementary approaches weighed carefully and tailored for today’s window of political possibility. Ranging from a reexamination of the Federal Reserve’s dual mandate to a responsible return to gold convertibility, Shelton’s solutions represent a bold yet well-reasoned challenge to today’s leaders in Washington.

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What Will Benefit From Global Recession? The US Dollar

Posted by Gonzalo Schwarz
October 9, 2012
in Blog

A very interesting article by Charles Hugh Smith of the Of Two Minds blog, and in line with the view that, even as all of the ships sink, the last one to go down will look very good for a while. For this reason the US dollar will be the beneficiary of the Euro’s distress, […]

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Easy Money Is Punishing the Middle Class

Posted by Gonzalo Schwarz
October 5, 2012
in Blog

A policy of low but persistent inflation anesthetizes workers to declining real wages. By SEAN FIELER With the Republican Party committed to a gold commission and the Federal Reserve committed to easy money, a substantive debate about the principles underpinning our monetary system is finally in the offing. For sound money to carry the day, Republicans […]

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Answering the Same Old Arguments Against Sound Money

Posted by Gonzalo Schwarz
October 4, 2012
in Blog

Archived from the live Mises.tv broadcast, this lecture by Tom Woods was presented at the Mises Circle in Manhattan: “Central Banking, Deposit Insurance, and Economic Decline.” Includes an introduction by Llewellyn H. Rockwell, Jr. Music by Kevin MacLeod.   For more visit youtube.com/user/misesmedia… image: flickr.com/ethanhein

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Is It Time To End the Federal Reserve?

Posted by Gonzalo Schwarz
October 4, 2012
in Blog

By LAWRENCE H. WHITE, JAMES BROUGHEL Since it began operations 98 years ago, the Federal Reserve System has performed functions that are vital to the financial system. Yet the fact that the Fed now plays some important roles doesn’t show that the Fed is the only institution capable of playing those roles, much less the best at doing them. In fact, history shows us […]

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Faber Warns ‘Everything Will Collapse’

Posted by Gonzalo Schwarz
October 4, 2012
in Blog

Famed economist Marc Faber appeared on Bloomberg TV with a harsh, direct warning to investors. “U.S. monetary policies will destroy the world,” he said, referring to the new round of stimulus – QE3, or “QE Forever” – the Fed plans to launch this year. As the publisher of the influential Gloom Boom & Doom report, […]

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Does QE3 Mark the Beginning of the End of the Bond Bubble?

October 2, 2012
in Blog

  With savings rates at historic lows and budget deficits at historic highs, it makes little sense that interest rates should remain this low for this long. While the Federal Reserve has received much praise for keeping rates low with its Quantitative Easing program, the congratulations rightfully belong to the European debt crisis. It is […]

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Twin Demons

Posted by Gonzalo Schwarz
October 1, 2012
in Blog

by Llewellyn H. Rockwell Jr. [This talk was delivered at the Mises Circle in New York City on September 14, 2012.] The 20th century was the century of total war. Limitations on the scope of war, built up over many centuries, had already begun to break down in the 19th century, but they were altogether obliterated in the […]

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