The Lenders of Hazard
The following passage in a note at The Economist points out to the well-known problem of moral hazard with lenders of last resort. But the moral hazard problem affects more than just the financial institutions: The European Central Bank (ECB) rejects t …
READ MORE“Gold is NOT money!.. But, can we have yours to pay our bills?”
“NEIN! But take all zee paper you wish…”
READ MOREThe Gold Standard Mentality and the Great Depression
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 …
READ MOREFrom the Utah Money Summit
by Nathan Lewis – New World Economics Happily, I was invited to a conference just last week in Utah, celebrating the passage of a law to permit the introduction of an alternative, gold/silver based currency. This is actually a big deal, and if we see s …
READ MOREA Swiss initiative which could bring us true monetary reform
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-beginning-of-the-beginning/ A key p …
READ MOREThe shrinking dollar: who should go to the shrink?
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. Look at this video and see who should be sent to the psychiatrist http://www …
READ MOREInvesting in gold, loving the free society
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. “As gold i …
READ MORE“Should Governments buy gold?” Even New York Times creates discussion blog
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. It was 1978-1979, and the price of gold was also going through the roof (in real terms higher than today’s …
READ MOREA Golden Moment?
Article and photo originally published at The Weekly Standard William Kristol July 24, 2011 Judy Shelton makes the case in the new issue of THE WEEKLY STANDARD for the “Gold Standard or Bust.” Sound finances, she points out, require sound money, and so …
READ MOREGold Standard or Bust
Article and photo originally published at The Weekly Standard August 1, 2011 As the truth-or-dare battle over raising the debt ceiling moves toward a resolution of some sort, we are witnessing a unique political moment, with attention finally riveted o …
READ MOREReturn of the Gold Standard as World Order Unravels
Article and photo originally found at The Telegraph, July 18, 2011, Ambrose Evans-Pritchard As the twin pillars of international monetary system threaten to come tumbling down in unison, gold has reclaimed its ancient status as the anchor of stability. …
READ MOREThe Perfect Protection of Prodding and Printing, Part II
“In the absence of a gold standard, there is no way to protect savings from confiscation through inflation. There is no safe store of value. If there were, the government would have to make its holding illegal…”
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