Monday, 11 December 2017

Sound Money

Money in Liberalism

June 19, 2017
in Blog

One feature of a liberal society is that its institutions, and especially its formal institutions with coercive backing, are bound by a nondiscriminatory rule of law, and work to protect the sanctity of property and contract for all persons.  In such a society, the general laws of property, contract, torts, etc. govern the provision of […]

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2014 Sound Money Rankings: the bottom of the list

Posted by Alex Chafuen
January 5, 2015
in Blog

As several of the worse performing currencies are in countries where the government manipulates statistics and exchange rates, it is not easy to come up with a perfect ranking. Using the inflation rate is a good approximation. In Venezuela the official price inflation is over 60%. In Argentina statistics are so manipulated that it is […]

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Wall Street Journal describes the new Cato Institute effort to promote sound money

Posted by Alex Chafuen
October 22, 2014
in Blog

The Wall Street Journal blog reports that Cato’s new Center for Monetary and Financial Alternatives will have as a goal to “challenge the central bank’s policies and explore alternative ways to manage the U.S. money supply, including but not limited to a return to the gold standard.” The new director, George Selgin, is an outstanding economist, with […]

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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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Sound Money for Ukraine

Posted by Alex Chafuen
February 26, 2014
in Blog

Another brilliant piece by Judy Shelton: “As Ukrainians mourn their dead and vow to prosecute their recently deposed leader, the valor of those who died must now inspire others to build a new Ukraine worthy of their struggle and sacrifice. Democracy and a better future must be secured in pragmatic terms. Economic benefits must begin […]

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Thoughts on Jefferson and the Dollar at Monticello

Posted by Gonzalo Schwarz
February 11, 2014
in Blog

The following speech was given by Dr. Judy Shelton on January 30th, at the Jefferson Library in Thomas Jefferson’s Monticello: [Dr. Shelton] Thank you very much, very pleased to be here. It’s an honor to be introduced by Andrew O’Shaughnessy… I taught with your father, who is professor emeritus at the graduate business school at […]

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Europe’s Bank Money Blues

Posted by Gonzalo Schwarz
November 22, 2013
in Blog

By Steve Hanke   Well, it’s official, the economic talking- head establishment has declared war on Germany. The opening shots in this battle were fired by none other than the United States Treasury Department, which had the audacity to blame Germany for a weak Euro- zone recovery in its semi-annual foreign exchange report. The Treasury’s […]

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More Credit, More Money: Poland and the Euro-zone

Posted by Gonzalo Schwarz
November 11, 2013
in Blog

By Steve H. Hanke Money matters — it’s a maxim of Prof. Milton Friedman that I repeat often in my columns, and to my students in class. Since the Northern Rock bank run of 2007 — the “opening shot” of the recent financial crisis — the money supply, broadly measured, in Poland and the rest […]

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A Hard Anchor for the Dollar

Posted by Gonzalo Schwarz
November 8, 2013
in Blog

By Warren Coats After years of destabilizing monetary policy by the Federal Reserve, there is growing sentiment that our fiat currency system should be replaced with a hard anchor. Yet, the gold and silver standard anchors adopted in much of the world over the two centuries preceding the United States’ abandonment of gold in 1971, […]

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Return to the Gold Standard?

Posted by Gonzalo Schwarz
October 31, 2013
in Blog

Former Reagan Gold Commissioner Lewis Lehrman on the outlook for gold.       Watch the latest video at video.foxbusiness.com Watch the latest video at video.foxbusiness.com

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Yellen, the Hawk?

Posted by Gonzalo Schwarz
October 29, 2013
in Blog

  By Steve H. Hanke This article appeared in the November 2013 issue of Globe Asia.   Well, it’s official. President Obama has picked Janet Yellen as his nominee to be the next Federal Reserve Chairman. In the months leading up to this announcement, the press unanimously dubbed Yellen the Queen of the Doves, pointing […]

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Bernanke Talks, Markets Wobble. There Must Be a Better Way

Posted by Gonzalo Schwarz
May 28, 2013
in Blog

Rep. Kevin Brady’s Centennial Monetary Commission initiative might point toward a useful policy overhaul. By JUDY SHELTON Since Federal Reserve Chairman Ben Bernanke testified before Congress’s Joint Economic Committee Wednesday morning, commenting on the economic outlook and responding to questions from lawmakers on the likely path of monetary policy, financial markets have experienced turmoil. Triple-digit gains […]

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The Devolution of the Dollar

Posted by Gonzalo Schwarz
May 22, 2013
in Blog

From the Cato Policy Report: For more than 100 years, from roughly 1800 to 1912, the purchasing power value of the dollar under the gold-and-silver standard was essentially constant. With the creation of the Federal Reserve and its discretionary policies of the last century, however, the dollar’s value has declined by more than 95 percent. […]

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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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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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Yes Virginia, There Is A Constitutional Monetary Unit

Posted by Gonzalo Schwarz
February 5, 2013
in Blog

Last week, the Virginia House of Delegates Rules Committee passed, by an 11 – 1 bipartisan majority, a bill to establish “a joint subcommittee to study the feasibility of a United States monetary unit based on a metallic standard, in keeping with the constitutional precepts and our nation’s founding principles….”   Such a study could prove to […]

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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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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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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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“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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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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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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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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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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The Gold Standard Goes Mainstream

Posted by Gonzalo Schwarz
August 30, 2012
in Blog

By SETH LIPSKY An under-reported development of this campaign season is the Republican Party’s decision this week to send Gov. Mitt Romney into the presidential race on a platform effectively calling for a new gold commission. The realization that America’s system of fiat money is part of its economic problem is moving from the fringes of […]

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Ezra Klein Mistakes the Arsonist for a Firefighter

Posted by Gonzalo Schwarz
August 30, 2012
in Blog

by Steven Horwitz In Friday’s Washington Post, Ezra Klein raises a number of criticisms of the gold standard using as his hook the call for a new Gold Commission that appears in a draft of the new Republican Party platform.  Putting aside the question of party politics and what a new Commission might do, Klein’s arguments against the […]

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The Fed Has Forgotten Sound Money, And Now Just Manipulates Interest Rates

Posted by Gonzalo Schwarz
August 22, 2012
in Blog

by James Dorn While some members of Congress and Republican presidential hopeful Mitt Romney want to label China a “currency manipulator,” little is said about the Federal Reserve’s role as an interest-rate manipulator.  Interest rates are relative prices that should be freely determined in private capital markets, not manipulated by the central bank.  The Fed is […]

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Phase Out the Fed With Sound Money Laws

Posted by Gonzalo Schwarz
August 20, 2012
in Blog

Although it is very encouraging that the House voted 327 to 98 to audit the Fed last month, it is virtually certain that the Senate will not concur this year. Moreover, it is virtually certain that Congress will not act to end or phase out the Fed any time soon. So, what’s to be done about […]

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Reality Check: Is Rep. Paul Ryan Actually A Big Spender? His “Principle” Problem

Posted by Gonzalo Schwarz
August 16, 2012
in Blog

Ben Swann of Fox19 in Cincinnati has been doing some great work recently. Here he discusses VP candidate Paul Ryan’s record of voting for spending bills, e.g. TARP, the auto bailouts, Medicare Part D, etc. Although Ryan has said all of the right things re: Sound Money (see here), and has been a friend of […]

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Paul Ryan, Mike Pence and Judy Shelton on Sound Money and Morality and Principles

Posted by Alex Chafuen
August 11, 2012
in Blog

Here is a clip of Paul Ryan on Sound Money at Atlas Economic Research Foundation program, in association with FreedomWorks. In addition to Ryan, we had Mike Pence and Judy Shelton arguing that the battle for sound money requires going beyond economics 4 Min Congressman Mike Pence (IN), and Judy Shelton (Atlas Economic Research Foundation) on Sound […]

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Jerry Jordan, Sound Money Champion, at Francisco Marroquin University Program

Posted by Alex Chafuen
August 9, 2012
in Blog

This video, The Ghost of Inflation: The Threat of Going Back, includes Jerry Jordan, one of the great economists who never forgot the importance of sound money.  Initial remarks begin at 16:30 minutes…  Q & A begins at 1 hour. The audience included business and political leaders, as well as students–english as second language. View more […]

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Led by Rep. Ron Paul, Congress Explores Sound Money

Posted by Gonzalo Schwarz
August 6, 2012
in Blog

Written by  Alex Newman As concerns over the U.S. dollar and the Federal Reserve continue to grow, U.S. lawmakers explored sound money, competing currencies, and the route to monetary freedom during an August 2 congressional hearing chaired by Rep. Ron Paul (R-Texas). It was the final House Domestic Monetary Policy Subcommittee hearing led by the long-time champion of […]

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Achieving Sound Money (from the archives of Antony Fisher)

Posted by Alex Chafuen
July 27, 2012
in Blog

The good students of economic history marvel at how often human beings commit the same mistakes.   In a draft about “How to Achieve a Sound Money (and avoid the Road to Serfdom)”, Antony Fisher quotes then British Prime Minister Callaghan.   In The Wall Street Journal of January 31, 1977, under the title of “Keynes […]

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David Stockman on the Debt Supercycle and Unsound Money

Posted by Gonzalo Schwarz
July 24, 2012
in Blog

At the latest Casey Research Conference, “Recovery Reality Check” in Weston, Florida, Casey Research’s Chief Technology Investment Strategist Alex Daley sits down with David Stockman, former Director of the Office of Management and Budget under President Ronald Reagan.   For more visit the cobdencentre.org… image: flickr.com/newamerica

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Get a Dog; Then, Get Gold

Posted by Gonzalo Schwarz
July 16, 2012
in Blog

 by Kathleen Packard There’s been a lot of talk in the presidential race this year about dogs – the Obamas’ Portuguese water dog Bo and the Romneys’ deceased dog –  Irish setter Seamus.   It has often been said about Washington, if you want a friend, get a dog.  At least that is what Harry Truman […]

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Treasury Probe Cites Officials

Posted by Gonzalo Schwarz
July 16, 2012
in Blog

by Bob Cusack Treasury Department officials have been cited for soliciting prostitutes, breaking conflict-of-interest rules and accepting gifts from corporate executives, according to the findings of official government investigations. The revelations of unethical behavior at Treasury are detailed in little-noticed documents posted this month on governmentattic.org, which publishes agency responses to Freedom of Information Act (FOIA) requests. While […]

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The Return of the Gold Standard

Posted by Gonzalo Schwarz
July 12, 2012
in Blog

by Peter Schiff In my latest book, The Real Crash: America’s Coming Bankruptcy – How to Save Yourself and Your Country, I devote a full chapter to the merits of the historical gold standard and reasons to reinstate it. What I did not mention and few investors notice is that central banks are already returning to […]

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“Fraude” New Documentary Film Based on Sound Monetary Analysis

Posted by Alex Chafuen
July 6, 2012
in Blog

Thanks to Instituto Juan de Mariana for providing the script based on sound monetary analysis for the film Fraude (Fraud).  The documentary is in Spanish and includes the opinion of leading economists based in Spain including Jesús Huerta de Soto, Carlos Rodríguez Braun, Juan Ramón Rallo, and many others.   The film explains how government intervention […]

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Teach Your Children to Understand Sound Money

Posted by Gonzalo Schwarz
June 28, 2012
in Blog

There is a good reason why so many accept the legal tender fiat money regime here in America when only 80 years ago it took the threat of imprisonment to get many to give up their sound money: you will never be taught about sound money, real money, in government schools. And it is a difficult […]

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Returning to a Gold Standard System: Why and How?

Posted by Gonzalo Schwarz
May 16, 2012
in Blog

by Nathan Lewis The answer to Why? is: because gold-linked stable money is superior to manipulated funny money. The answer to How? has two subsections. The first is: How to maintain a gold standard system? The second is: How to transition to a gold standard system?The answer to “how to maintain a gold standard system” is to understand the process of […]

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The Golden Rule Reinterpreted

Posted by Gonzalo Schwarz
May 15, 2012
in Blog

  by Peter Schiff In an April speech in Berlin, Dr. Andreas Dombret, a member of the Executive Board of the Deutsche Bundesbank (the German central bank), offered a startlingly frank assessment of the current problems in Europe. Although his comments were meant to apply to the tensions and imbalances that exist between the northern […]

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Sound Money Interview Series: Dr. Edwin Vieira, Jr.

Posted by Gonzalo Schwarz
April 9, 2012
in Blog

When life gives you lemons, plant an orange tree.  We need an alternative to the Fed’s lemons. We sat down with Dr. Edwin Vieira, Jr., Constitutional Attorney and Author, and discussed money, history, his plan for a Constitutional alternative gold and silver currency, run at the state level, to bring sound money to America. First, […]

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Dr. Judy Shelton at The Hayek Institut

Posted by Gonzalo Schwarz
April 3, 2012
in Blog

The Hayek Institut and LGT Bank (Österreich) AG cordially invite you to the lecture Sound Money in America: Prospects and Problems Dr. Judy Shelton, author of “A Guide to Sound Money” With the U.S. Presidential elections approaching it is time for the U.S. to move in favor of more fiscal discipline. The worsening budget situation in […]

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Class Dismissed

March 30, 2012
in Blog

We hear all about the fading middle class, but the fading UPPER class? It seems like the only class doing well is the Political class. by Devin Roundtree It is true that the poor have gotten poorer, but so have the rich. Despite what government statistics say, incomes across the board are not at historic […]

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Sound Money Interview Series: Dr. Thomas Rustici

Posted by Gonzalo Schwarz
March 28, 2012
in Blog

What’s the point of saving the banks if you’ve got to destroy money to do it? We sat down with Dr. Thomas Rustici from George Mason University and discussed his speech “Thinking the Unthinkable” about the coming demographic and fiscal crisis and the possibility of hyperinflation in America, and his plan to begin moving the […]

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Dear Mr. Geithner…

Posted by Gonzalo Schwarz
March 25, 2012
in Blog

“To return to sound money, we need to return to the monetary system our founders intended.” By Ron Paul Before the United States House of Representatives, Committee on Financial Services, Hearing to Receive the Annual Testimony of the Secretary of the Treasury on the State of the International Financial System, March 20, 2012 Mr. Chairman, […]

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Bernanke Lectures at GWU, Tells the Truth

Posted by Gonzalo Schwarz
March 23, 2012
in Blog

At least when he introduced himself as “Ben Bernanke.” Then it went downhill. by Jacob G. Hornberger In a recent lecture to an undergraduate class at George Washington University, Federal Reserve Chairman Ben Benanke, not surprisingly, blasted the gold standard and praised paper money and the nation’s central bank, the Federal Reserve. He said that […]

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