Saturday, 18 November 2017

Author Archives Johannes Schmidt

“Bank capital punishment and other nostrums”

December 31, 2014
in Blog

Across the globe, governments and their central banks have embarked on a witch hunt against bankers, imposing new capital requirements, regulations and even launching investigations against them. While policy makers need scapegoats to blame for the financial crisis of 2009, targeting bankers creates a problem as it “constrains the growth of money broadly defined.” This […]

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Defending the dollar in Ecuador

December 30, 2014
in Blog

This past August, Mary O’Grady made a claim in the Wall Street Journal that few people would argue against when she stated that “few economic injustices are more villainous than stealing from the poor.” Really, she was speaking about the devaluation of currency at the hands of governments and their central banks. As O’Grady notes, currency devaluation was […]

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Op-ed: The Yellen tug of war

December 16, 2014
in Blog

This week, Ralph Benko published a piece in Forbes that outlined what I would consider two fundamental problems with Janet Yellen’s Federal Reserve: its willingness to experiment and its growing politicization. As Benko states in the opening of his piece, economic mobility depends on when and how quickly the Fed decides to tighten or raise […]

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Should ‘Legal But Shady’ Be A New Regulatory Standard?

November 25, 2014
in Blog

The following is an excerpt from Heritage Foundation Research Fellow Norbert Michel’s recent piece in Forbes: Last Friday I had the pleasure of testifying at a Senate hearing. The topic was “Improving Financial Institution Supervision: Examining and Addressing Regulatory Capture.” “Regulatory capture” refers to a common phenomenon: individuals serving as regulators come to identify with […]

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A global currency for a global economy: a real SDR currency board

November 18, 2014
in Blog

By Dr. Warren Coats   Introduction Since the collapse of the gold standard and the Bretton Woods system in the early 1970s, the resulting international monetary system (IMS) has supported a dramatic growth in world trade and finance remarkably well. Yet the system of market determined or managed exchange rates, which suited well a world […]

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Beware a magnanimous Fed

October 24, 2014
in Blog

Across the globe, central banks are highlighting growing trends in income inequality and suggesting that it is their responsibility to help close the gap. At a recent conference at the Federal Reserve Bank of Boston, Janet Yellen, Chair of the Federal Reserve, questioned whether income inequality “is compatible with values rooted in our nation’s history, […]

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In Memoriam: Leonard Liggio

October 14, 2014
in Blog

Leonard P. Liggio, Executive Vice President of Academics at Atlas Network, passed away October 14, 2014 at the age of 81. Leonard’s career advancing liberty spanned seven decades, during which time he served as the President of the Mont Pelerin Society, the Philadelphia Society, and the Institute for Humane Studies, where he later continued to […]

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French economist wins the Nobel Prize

October 13, 2014
in Blog

Today, the 2014 Nobel Prize in economics was awarded to French economist Jean Tirole for “his analysis of market power and regulation.” When honoring Tirole, the Royal Swedish Academy of Sciences cited the 61 year old Economics professor’s work on regulation and noted that his academic contributions should help guide governments when dealing with mergers […]

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Regime uncertainty weighs on growth

September 23, 2014
in Blog

This is a guest post from Steve H. Hanke, a Professor of Applied Economics at the Johns Hopkins University in Baltimore, MD and a Senior Fellow and Director of the Troubled Currencies Project at the Cato Institute in Washington, D.C. You can follow him on Twitter: @Steve_Hanke Shortly after the current Great Recession started, I […]

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Bitcoin exposed by Professor Steve Hanke

September 19, 2014
in Blog

As Professor Steve H. Hanke, Professor of Applied Economics at The Johns Hopkins University in Baltimore, notes, Bitcoin “remains a mystery to many.” Luckily for those interested in learning more about the iconic crypto-currency, Hanke has constructed a series of charts that uses data to outline topics such as Bitcoin in circulation, USD exchange trade […]

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The Sound Money Project proudly announces new Program Fellows

September 8, 2014
in Blog

We at the Atlas Network’s Sound Money Project are proud and excited to announce that three new Fellows and a Senior Fellow will be joining our team and helping to advance our mission of raising awareness about the problems of our current monetary system. These new Fellows include: Jerry L. Jordan, Ph.D. Dr. Jordan is […]

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Europe’s depressing dog days of summer

August 27, 2014
in Blog

This is a guest post from Steve H. Hanke, a Professor of Applied Economics at the Johns Hopkins University in Baltimore, MD and a Senior Fellow and Director of the Troubled Currencies Project at the Cato Institute in Washington, D.C. You can follow him on Twitter: @Steve_Hanke As we entered the dog days of summer, […]

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The Fed is driving the economy in the wrong direction

August 25, 2014
in Blog

In an op-ed released today, Richard Ebeling, economics professor and former president of the Foundation for Economic Education, argues that the Federal Reserve’s misguided policies are driven by a fear of “price deflation,” but that their solutions often lead to disaster. According to Ebeling, the Federal Reserve, under the leadershp of Alan Greenspan, Ben Bernanke […]

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The IMF and a currency board for Ukraine

August 19, 2014
in Blog

The Ukraine situation remains dire and it is important for the IMF to consider how best to help Ukraine avoid currency collapse. According to the Sound Money Project’s Dr. Judy Shelton, “the IMF should move quickly to consider the option of a currency board for Ukraine. It would not only resolve the dilemma of policy […]

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Steve Horwitz to the defense of the Gold Standard

July 23, 2014
in Blog

Last week, Matt Yglesias outlined seven reasons to think that the Gold Standard is not a viable option, but rather a terrible idea. In an article published by www.FreeBanking.org, Steve Horwitz refutes Yglesias point by point, addressing the following claims: 1) A gold standard wouldn’t stabilize inflation 2) A gold standard wouldn’t stabilize exchange rates […]

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Realizing Bitcoin’s potential

July 22, 2014
in Blog

Governments around the world are grappling with what to do with Bitcoin — the cryptocurrency that has attracted enthusiasts worldwide, endured the bankruptcy of one major exchange (Tokyo-based Mt. Gox), and puzzled fans and detractors alike with regard to its legal status. The Montreal Economic Institute recently published a study that discusses Bitcoin’s potential. In […]

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“The Fed Can’t Fix What Ails the Economy”

July 21, 2014
in Blog

Earlier this week, Janet Yellen, Chair of the Federal Reserve, pointed to several points that she felt warranted continued action by the Fed. In an article published today in Real Clear Markets, however, Gerald O’Driscoll notes that monetary policy is not the answer to many of the economy’s biggest problems, perhaps most notably the ever […]

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Bitcoin: A New Medium of Exchange or a New Investment Vehicle?

July 21, 2014
in Blog

By Tien Nguyen Bitcoin has been a significant innovation of electric money for the past five years and with a fascinating and breakthrough characteristic, it is undoubtedly true that Bitcoin is marking a whole new turning point in money’s features, particularly in money transaction. Bitcoin is the first decentralized digital currency and compared to other […]

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Tough Questions for the Fed

July 17, 2014
in Blog

This past week, Janet Yellen, chairwoman of the Federal Reserve, delivered her semi-annual monetary policy report to congress, confidently supporting the Fed’s ultra-low interest policies. While critics in the legislature and economists alike were quick to question her unabashed conclusions, market investors continued to exploit capital gains on their portfolios. In her recent article, published […]

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Time to stop taxing gold and silver

July 8, 2014
in Blog

Last month, Oklahoma Governor Mary Fallin signed Senate Bill 862 into law, once again recognizing gold and silver as legal tender and an acceptable means of payment of debts in the Sooner State. While this treatment would seem self-evident, noting Article I, Section 10 of the U.S. Constitution, precious metals in Oklahoma were previously taxed […]

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