Monday, 11 December 2017

Gold

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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Arizona Legislature Approves Gold and Silver as Money

Posted by Gonzalo Schwarz
April 26, 2013
in Blog

By Alex Newman As trust in the Federal Reserve System and its fiat dollar continues to plummet worldwide, legislation making gold and silver into legal tender was given final approval by Arizona lawmakers on Monday when the Republican-led state House of Representatives voted overwhelmingly in favor of the bill. With tremendous grassroots support, an earlier […]

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What Is a Dollar?

Posted by Gonzalo Schwarz
April 22, 2013
in Blog

by EDWIN VIERA Mr. Vieira is an attorney specializing in constitutional law. He is the author of numerous publications on monetary law. This is a condensed version of the monograph “What Is a Dollar?,” distributed by the National Alliance for Constitutional Money. All rights to this condensed version are reserved by the National Alliance for […]

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Paul Krugman v. David Stockman: The Great Debate Over Gold Continues

Posted by Gonzalo Schwarz
April 22, 2013
in Blog

by Ralph Benko Amid an ongoing decline in the price of gold, a major brawl recently broke out in the elite media over … the gold standard. What is this free-for-all all about?  And why does it matter?  It matters because… the gold standard finally has demonstrated that, after a long eclipse, it is being […]

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Will the U.S. Nationalize Gold Within its Borders?

Posted by Gonzalo Schwarz
February 25, 2013
in Blog

Money manager Peter Schiff predicts, “We are headed for a monetary crisis, a dollar crisis. . . . Money supplies are going to explode, and gold supplies are going to be constricted.” According to Schiff, that means only one thing, “The price of gold has one way to go in the long term, and that […]

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The Impossibility of Economic Calculation in a Fiat World

Posted by Gonzalo Schwarz
February 11, 2013
in Blog

By Alasdair Macleod The purpose of keeping accurate accounts is to quantify net worth at any given point in time – as well as the change from a prior date. It goes without saying that the measure used, money, should be constant if comparisons over time are to mean anything. Only then do prices of […]

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Turkey’s Gold Policy

Posted by Gonzalo Schwarz
January 29, 2013
in Blog

by Adrian Ash AMID the brouhaha over Germany’s gold reserves at the Bundesbank, there’s another central bank using gold actively to bolster its currency and financial stability. The strategy looks the same – sitting on big stockpiles of the stuff. But the aim differs, because gold is much closer to the everyday financial system. The […]

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Even Manufacturing Prefers Sound Money

Posted by Devin Roundtree
January 3, 2013
in Blog

by Devin Roundtree With an annual growth rate of only 1.2%, the Federal Reserve reports that America’s iconic manufacturing industry is on pace for its toughest year since 2009. But the true state of America’s manufacturing industry is far gloomier than what the government reports. Despite claims of real manufacturing output rising over 80% since […]

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2012 Currency Rankings In Terms of Gold

Posted by Devin Roundtree
January 2, 2013
in Blog

by Devin Roundtree Now that 2012 has come and gone, here are the 15 most traded currencies ranked by their performance against the yellow metal. Among the top performers, the New Zealand dollar and Swedish Krona should not come as a big surprise; the central banks of both countries have gained a reputation for relatively […]

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Sound Money vs. Stable Money

Posted by Gonzalo Schwarz
December 28, 2012
in Blog

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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Keep Your Golden Eyes on China

Posted by Devin Roundtree
December 28, 2012
in Blog

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
in Blog

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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“Gold, and Frankincense and Myrrh”

Posted by Gonzalo Schwarz
December 25, 2012
in Blog

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
in Blog

   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
in Blog

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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Myth 8: The Gold Standard Helped Spread the Great Depression to the Rest of the World

Posted by Gonzalo Schwarz
December 14, 2012
in Blog

by Lawrence H. White The second part of the “Golden Fetters” indictment, to quote a recent statement of it (Bordo 2010, p. 40), is that “The Great Depression spread across the world via the fixed exchange rate gold standard.”  In Eichengreen’s (1992, p. xi) earlier words, the international gold standard “transmitted the destabilizing impulse from […]

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The Case For 100% Reserve Banking

Posted by Devin Roundtree
December 14, 2012
in Blog

by Devin Roundtree Even among the most vocal advocates of returning to a gold standard, a banking system that requires banks to reserve 100% of all deposits redeemable on demand is considered impractical and a hindrance to economic growth. However, not only is 100% reserve banking practical, it is lawful and will not create credit […]

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The Question Is: Who Plans?

Posted by Gonzalo Schwarz
December 13, 2012
in Blog

Let’s not forget that FDR established a daily gold price by use of lucky numbers. Competition in money allows for the same experimentation and knowledge discovery as competition in other areas of life and economy… -ed. by Don Boudreaux Here’s a letter to the Washington Post: Carter Eskew finds inspiration for our troubled times in FDR’s […]

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Myth 7: The Gold Standard was Responsible for the Deflation that Ushered in the Great Depression

Posted by Gonzalo Schwarz
December 13, 2012
in Blog

by Lawrence H. White The most prominent set of criticisms of the gold standard among academic economists in recent years blame the gold standard for the creating the Great Depression in the United States and for then spreading it internationally.  Douglas Irwin (2011, p. 1) summarizes the case and identifies its most cited source: Modern […]

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Fedophilia

Posted by Gonzalo Schwarz
December 6, 2012
in Blog

by George Selgin Although the movement to “End the Fed” has a considerable popular following, only a very tiny number of economists—our illustrious contributors amongst them—take the possibility seriously. For the rest, the Federal Reserve System is, not an ideal currency system to be sure (for who would dare to call it that?), but, implicitly at […]

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A Golden Path: Reply to Professor Cochran

Posted by Gonzalo Schwarz
December 5, 2012
in Blog

by Godfrey Bloom and Patrick Barron In his recent Mises Daily article “Fool’s Gold Standards,” John P. Cochran warns his readers against accepting any monetary reform less than that of money created by the free market. Therefore, he felt it necessary to criticize our previous Mises Daily article “A Golden Opportunity,” in which we advised Germany to leave the European Monetary Union, […]

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Forbes Review: Roads to Sound Money

Posted by Gonzalo Schwarz
December 3, 2012
in Blog

by Ralph Benko The only plank remaining under notable discussion from either national convention platform of 2012 is the GOP platform’s call for a national monetary commission.  Although widely reported as a call for a new “Gold Commission”, the actual text calls for a “commission to investigate possible ways to set a fixed value for […]

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Lewis E. Lehrman on “The Larry Parks Show”

Posted by Gonzalo Schwarz
November 30, 2012
in Blog

From thegoldstandardnow.org: For more than 40 years, Lewis Lehrman, Co-Chairman of the Gilder Lehrman Institute of American History, has taken a leadership role in promulgating gold as money. Here, he discusses overcoming objections to eliminating paper money.  

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Central Banks’ Gold Likely Gone

Posted by Gonzalo Schwarz
November 30, 2012
in Blog

Pay no attention to the men behind the curtain… By: Gregg Hunter Money manager Eric Sprott says, “The central banks’ gold is likely gone with no realistic chance of getting it back.” Don’t expect this revelation to get any coverage by the mainstream media. In an interview last week, Sprott’s analysis was met with words […]

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Inflation, Unemployment, and Gold

Posted by Gonzalo Schwarz
November 28, 2012
in Blog

Written by Kathleen Packard Washington Post’s Neil Irwin wrote after the election, “To economists, inflation is the dog that didn’t bite. Despite fears among commentators that the Federal Reserve’s easy money policies would cause rising prices, the consumer price index rose only 2 percent over the last year, exactly what the Fed aims for. And investors […]

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Are Turkey and Iran Showing the Way…

Posted by Gonzalo Schwarz
November 26, 2012
in Blog

…That the World Will Adopt a Gold Standard by Necessity? Turkey Swaps Gold for Iranian Gas Loophole in Western Sanctions Allows Iran to Buy Gold in Turkey With Turkish Payments for Gas Imported From Iran By JOE PARKINSON and EMRE PEKER ISTANBUL—Turkey on Friday acknowledged that a surge in its gold exports this year is related to payments […]

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“Fool’s Gold” Standards

Posted by Gonzalo Schwarz
November 12, 2012
in Blog

by John P. Cochran In a recent Mises Daily, “A Golden Opportunity,” Patrick Barron and Godfrey Bloom make the case for Germany to withdraw from the monetary union combined with a strong argument that “a golden Deutsche Mark is possible and desirable.” This recommendation may be a step in the right direction, but it leaves Germany with a central […]

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Doug French’s Top 10 Books on Money

Posted by Gonzalo Schwarz
November 12, 2012
in Blog

Episode 66: GoldMoney’s Andy Duncan speaks to Doug French about his 10 favourite books written by Austrian school economists on the subject of money. Mr French is the senior editor at Laissez Faire Books and is a former President of the Ludwig von Mises Institute, in Auburn, Alabama. Here are the 10 main books discussed: 10) […]

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“Roads to Sound Money” Book Release

Posted by Gonzalo Schwarz
November 11, 2012
in Blog

The Sound Money Project of the Atlas Network is proud to announce the release of its newest publication, Roads to Sound Money. Please join the Atlas Network for the launch on Wednesday, November 14 at 5 pm in the South American room at the Capital Hilton in Washington DC (16th and K Street). The event […]

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There’s Still a Case for Gold

Posted by Gonzalo Schwarz
November 9, 2012
in Blog

by Ron Paul Thirty years after its first publication in 1982, The Case for Gold remains remarkably timely. The Case for Gold is the minority report of the U.S. Gold Commission and lays out a thorough and comprehensive defense of sound money. Today, The Case for Gold remains a timeless piece of scholarship, offering successive generations both a prescient warning and […]

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Paper Money or The True Gold Standard

Posted by Gonzalo Schwarz
November 1, 2012
in Blog

How does the United States once again establish, by statute, a dollar convertible to a defined weight of gold?  “If you have ever wondered how the world can get from here to there— from the chaos of depreciating paper to a convertible currency worthy of our children and our grandchildren—wonder no more. The answer, brilliantly […]

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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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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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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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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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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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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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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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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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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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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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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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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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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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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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