“In financial circles, analysts credit the rising price of gold to an unlikely duo: investors seeking shelter and central bankers from India, Bangladesh and other developing countries. Both are wary of a falling dollar. It starts with low interest rate …
READ MORE“Nobel Prize-winner Milton Friedman — dubbed ‘the Oliver Stone of economists’ by the Chicago Tribune — makes clear once and for all that no one, from the local corner merchant to the Wall Street banker to the president of the United States, is immune …
READ MORE“This article develops an error-correction model with the aim of analyzing the behavior of prices during a period of chronic inflation in Brazil. The degree of inflationary inertia is estimated, and tests for the importance of disequilibria in the dome …
READ MORE“The optimal revenue mix is tilted more towards seigniorage if the ruling political party has less of a dislike for inflation, if the costs of collecting taxes are high and the extent of tax evasion is widespread (cf. Canzoneri and Rogers, 1990), and i …
READ MORE“First, discretionary policy at times tends to be dominated by goals other than, and even contradictory to, stabilization (for example, pegging bonds yields, halting gold outflows), whereas the automatic framework cannot be so readily exploited for oth …
READ MORE“This is Tom Hoenig’s moment, and it’s a strange one. In Washington, he is the burr in Fed Chairman Bernanke’s saddle: the rogue heartland banker who keeps dissenting alone—for the sixth straight time on Sept. 21—to protest the Fed’s rock-bottom intere …
READ MOREOur friends over at the Cato Institute will be hosting their 28th Annual Monetary Conference on November 18. Cato’s 28th Annual Monetary Conference — Asset Bubbles and Monetary Policy — will address a key issue underlying the 2008 financial crisis: Did …
READ MORE“Miners such as Newmont (NEM) and Silver Wheaton (SLW) galloped to new highs on Wednesday, as gold prices reached another new peak in the wake of the Fed’s latest comments. The Federal Reserve on Tuesday indicated that it was prepared to pump fresh cas …
READ MORE“There’s a difference between interest and commitment. When you’re interested in doing something, you do it only when circumstance permit. When you’re committed to something, you accept no excuses, only results.” – Unknown Today’s Atlas Liberty Café fe …
READ MORE“In the spring of 1981, conservative Republicans in the House of Representatives cried. They cried because, in the first flush of the Reagan Revolution that was supposed to bring drastic cuts in taxes and government spending, as well as a balanced budg …
READ MORE“The historical episodes of hyperinflation that we know of consisted of rapidly falling money demand alongside rapidly rising money supply. In general terms, what tends to happen is that after many years of persistently high monetary inflation, people …
READ MORE“Gold prices were continuing their climb to $1,300 an ounce as investors bet on the Federal Reserve announcing another round of quantitative easing on Tuesday. If the Fed decides to buy more government bonds and expand the size of its balance sheet, it …
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