Wednesday, 23 July 2014

Monthly Archives December 2012

“Après moi le deluge”

Posted by Alex Chafuen
December 31, 2012

by Alex Chafuen During a recent interview on NTN24TV,  I was asked about the difference between the fiscal deficit and the fiscal “cliff.”  I told them that the deficit is more like a flood (deluge), and that explanation led me to write an op-ed for Investors Business Daily, thanks Daniel Bunn for co-writing. We begin: […]

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Sound Money vs. Stable Money

Posted by Gonzalo Schwarz
December 28, 2012

by Kenneth Gould Historically, there have been two contrasting monetary doctrines. The first doctrine favors what it calls “sound money,” defined as money that has a purchasing power determined by markets, independent of governments and political parties. A true gold standard is one example of money that has an intrinsic value determined by markets rather than governments. Note that, under a sound money doctrine’s principles, a gold standard where the government […]

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Another Step Toward Helicopter Money, And Away From Freedom

Posted by Gonzalo Schwarz
December 28, 2012

by James Dorn The Federal Reserve’s decision to enter the New Year by extending and enlarging its policy of quantitative easing is another step toward “helicopter money”—that is, directly increasing the public’s cash balances by an injection of high-powered money.  This could be done by dropping money from helicopters or by having the U.S. Treasury print […]

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Keep Your Golden Eyes on China

Posted by Devin Roundtree
December 28, 2012

by Devin Roundtree Due to the European Debt Crisis, little attention has been paid to the fundamental changes taking place in China. For more than a decade China has served as the biggest creditor to the United States government. But, two years ago, China apparently had a change of heart. The Chinese have long complained […]

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Gold and Griffins

Posted by Gonzalo Schwarz
December 28, 2012

by  Ralph J. Benko Some, occasionally, have wondered how it is that gold is produced. Excellent authority has it that it is stolen from griffins by one-eyed men. The “Father of History” Herodotus wrote: But in the north of Europe there is by far the most gold. In this matter again I cannot say with assurance how the […]

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Bernanke Hangs Loose

Posted by Gonzalo Schwarz
December 26, 2012

by Frank Shostak On Wednesday December 12, 2012 Fed policy makers announced that they will boost their main stimulus tool by adding $45 billion of monthly Treasury purchases to an existing program to buy $40 billion of mortgage debt a month. This decision is likely to boost the Fed’s balance sheet from the present $2.86 trillion […]

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“Gold, and Frankincense and Myrrh”

Posted by Gonzalo Schwarz
December 25, 2012

by Ralph J. Benko There is a historical, cultural, and even regal dignity to gold. From the Gospel according to Matthew (King James Version): 2 Now when Jesus was born in Bethlehem of Judaea in the days of Herod the king, behold, there came wise men from the east to Jerusalem, Tintoretto, The Adoration of the […]

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Is a Gold Standard Necessarily Vulnerable to Speculative Attacks?

Posted by Gonzalo Schwarz
December 18, 2012

   by Lawrence H. White My frequent co-author George Selgin (2012) finds it “more doubtful [today] than ever before that any government-sponsored and administered gold standard will be sufficiently credible to either be spared from or to withstand redemption runs.” He quotes James D. Hamilton (2005) to similar effect:  given that central banks the Treasuries […]

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Further Inside the Brain of the Sound Money Advocate

Posted by Gonzalo Schwarz
December 18, 2012

by Anthony Randazzo Bloomberg’s recently (and quite rightly) christened “Forbes 30 Under 30” superstar Josh Barro is inside my head. Or at least that’s what the title of his recent post for The Ticker implies. But since he kindly didn’t dig deeper in exploring the depths of our depraved “Hard-Money Advocate” Brains, let me clear up […]

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