The last two years marked a significant shift in central banks' attitudes toward gold. Since 1988, central banks have been net sellers of the precious metal. Lacking convertibility of their paper currencies into the commodity, this occurrence makes perfect sense.
Friday, December 9th, 2011
Friday, December 2nd, 2011
The Baring Crisis of 1890 is pointed out as the first modern international emerging financial crisis. The collapse of the banking system in Argentina came very close to triggering a financial crisis in London, the major international financial center.
Sunday, November 6th, 2011
"NEIN! But take all zee paper you wish..."
Saturday, October 29th, 2011
It is a common argument that the gold standard was one of the reasons of the Great Depression. The Federal Reserve, it is argued, was unable to follow an optimal monetary policy, with its hands tied with the gold standard regime. However, as Timberlake (2008, p.
Friday, September 2nd, 2011
Walter Grinder, that great educator, economist, thinker, and former Atlas trustee, alerted us to this article which can be a source of optimism for lovers of sound money: http://dailyreckoning.com/monetary-reform-the
Monday, August 22nd, 2011
Until recently, paper money advocates regarded those who pushed for letting the market choose gold or defining the monetary yardstick as a certain amount of gold as lunatics.
Thursday, August 11th, 2011
My late economic professor and mentor, Hans F. Sennholz, practiced what he preached. His example added to the strength of his classes. Forecasting the great weakening of paper money he invested in gold and silver. He had mixed feelings.
Wednesday, August 10th, 2011
When I was studying under Hans Sennholz, a student of Von Mises, our text book for monetary economics was Mises The Theory of Money and Credit.
Monday, July 18th, 2011
Article and photo originally found at The Telegraph, July 18, 2011, Ambrose Evans-Pritchard