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| RATIOS & INDEXES |
| Gold / Silver | 61.95 |
| Gold / Oil | 14.48 |
| Dowjones / Gold | 11.00 |
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 | Articles related to Adam Smith |  |
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 | Mish - Global Economic Analysis |
| Mish Interview With "Bitcoin Jesus" |
| Of all the topics that readers have pleaded me to write about for months but I never did until now, "bitcoins" are at the top of the list.
In private emails, I stated on many occasions "bitcoins are a scam". I now take that back, "scam" is not the correct word. Others whose opinions I highly respect, state the same thing.
For example, Geoff Turk at GoldMoney stated in an email response:
"I have spent quite a bit of time researching Bitcoins and have not found anything scam-like about them.Monday, April 29, 2013 |
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 | Alasdair Macleod - Finance and Eco. |
My Adam Smith Lecture  |
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For a long time governments have been redistributing peoples’ income and wealth in the name of fairness. They provide for the unemployed, the sick, and the elderly. The state provides. You can depend on the state. The result is nearly everyone in all advanced countries now depend on the state.
Unfortunately citizens are running out of accessible wealth. Having run out of our money, GovernTuesday, April 23, 2013 |
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 | Tom DiLorenzo - lewRockwell |
 More Lincoln Myths  |
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A philosophyprofessor named Allen Guelzo discovered in 1995 that one way out
of academic obscurity (where most philosophy professors resiSunday, April 14, 2013 |
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 | Gustave de Molinari |
| On « Ulcerous government” |
| By the very fact of their anti-economic constitution, governments have become the ulcers of societies (“les ulcères des sociétés”), to use the strong expression coined by J.B. Say. As population and wealth increase, thanks to the progressive development [531] of competitive industries, a growing mass of vital energy is sucked out of society by the suction pump which are taxes and debts, in order to subsidise the costs of production of public services, or to put it in a better way, to subsidise the support and easy enrichment of the particular class which controls the monopoly of the production of these services.Thursday, March 28, 2013 |
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 | Ty Andros - traderview |
Witches Brew: Part 3 - Attack of the Locusts!  |
| Something-for-NOTHING Societies!
The developed world has now become a fully operational Something-for-Nothing
society. Once a Something-for-Nothing psychology has been fully implemented
the majority of its citizens have become the functional equivalent of LOCUSTS!
Unable and unwilling ( they no longer have
the skills to make the wages they believe they are entitled to ) to
produce more than they consume and support themselves they set off the consume
those that do to FEED on andSaturday, March 23, 2013 |
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| Tom DiLorenzo |
| Frederic Bastiat (1801-1850): Between the French and Marginalist Revolutions |
| CLAUDE FREDERIC BASTIAT was a French economist, legislator, and writer who championed private property, free markets, and limited government. Perhaps the main underlying theme ofBastiat's writings was that the free market was inherently a source of "economic harmony" among individuals, as long as government was restricted to the function of protecting the lives, liberties, and property of citizens from theft or aggression.Monday, March 18, 2013 |
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 | Peter Degraaf |
| Could gold and the US dollar rise in tandem? |
| Featured is the weekly gold chart, with the US dollar at the top.Five times during the past five years did gold and the US dollar rise in tandem.The sixth time could happen any day.In 1973 and in 2005, gold and the mining stocks rose along with the U.S. dollar from April to December. ?The study of money, above all other fields in economics, is one in which complexity is used to disguise the truth, or to evade truth, NOT to reveal it.??..John K. Galbraith. This chart courtesy Federal Reserve BanFriday, March 08, 2013 |
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 | Nathan Lewis - New World Economics |
| How Do Countries Grow Rich? |
| Economists have been talking for decades about why some countries
get wealthy, and some do not. It was the subject of Adam Smith’s
famous book, The Inquiry Into the Nature and Causes of the
Wealth of Nations. I suggest that the secret could be
expressed in four words: Low Taxes, StablSaturday, February 23, 2013 |
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 | Antal E. Fekete - Gold University |
 Silver and Opium |
| From the mid-17th century more than 9 billion Troy ounces or 290 thousand metric tons of silver was absorbed by China from European countries in exchange for Chinese goods. The British introduced opium along with tobacco as an export item to ChinaFriday, February 22, 2013 |
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| Ty Andros - traderview |
| 2013 Outlook: Witches Brew: Part 2 |
| Throughout history Fiat currency and credit systems have failed upon the greed
and avarice of those who controlled them and this episode will be no different.
The currency and bomb...er...bond markets are GROUND ZERO of the unfolding
Societal and financial system destruction. The money printed to date will
be dwarfed by what is to come. This is the greatest OPPORTUNITY in HISTORY
for applied Austrian investing and the demise of the KEYNESIAN PONZI model.
The greatest transfer of wealthMonday, February 18, 2013 |
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 | Jan Skoyles - The Real Asset Co |
| The Trial of the Pyx |
| The Trial of the Pyx, perhaps one of the oldest legal events in Great Britain, took place earlier this week.
Since 1282, the Trial of the Pyx, which is a full judicial trial, has taken place every year in order to check the integrity of new coins produced by the Royal Mint.
Taking place at the Goldsmith’s Hall in the City of London, the trial is done in three-stages and involves a jury of goldsmiths counting and weighing the new coins which are transported in the Pyx, Latin for ‘chest’.Friday, February 08, 2013 |
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 | Peter McKenzie-Brown - Language Instinct |
| Independence Day |
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The day after America’s presidential election, the Calgary-based Canadian Defence and Foreign Affairs Institute (CDFAI) hosted a panel discussion on the political and economic significance of President Obama’s second term.
Some of the most interesting observations came from Jonathan Baron, an American lobbyist with a primarily Republican clientele.Wednesday, December 26, 2012 |
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| Antal E. Fekete - Gold University |
| Interest and Discount |
| According to Adam Smith “there are two different ways in which capital may be employed so as to yield a revenue…to its employer…: circulating capital… and fixed capital.” As a first approximation may we just say that one source of credit has to do with fixed capital and its scarcity is measured by the rate of interest, while the other has to do with circulating capital and its scarcity is measured by the discount rate. Both rates are a market phenomenon: the former is regulated by the bond market, and the latter by the bill market. The rate of interest varies inversely with the propensity to save, and the discount rate varies inversely with the propensity to consume. A common mistake is to assume that the two propensities are antithetical, that is, when people save more they must consume less, and vice versa. This simplistic view ignores the propensity to hoard. In monetarySunday, December 09, 2012 |
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 | Adrian Ash - Bullion Vault |
| Big Jump in London Gold Trading |
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Wholesale gold trading through London's global center just leapt towards summer 2011's records...
GOLD TRADING in London – heart of the world's wholesale bullion market – leapt in September.
How come? "The continued economic uncertainty in the Eurozone and US, the end of the holiday period and the start of the Indian festival season boosted clearing turnover," says trade body the London Bullion Market Association, releasing the new data to members on Thursday.Monday, October 29, 2012 |
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 | Jesse - Jesse's Cafe |
 Matt Taibbi and Eliot Spitzer Discuss Eric Holder's (and Obama's) Failure: Credibility Trap |
| Thefailure ofObama's JusticeDepartment to engage inanysystemic investigations andindictments of athoroughlyrotten andcorruptfinancial systemthat has laidwaste to the realeconomyis analmostperfectexample of thecredibilitytrap.
Acredibilitytrapis a situation inwhich theregulatory,political and/or theinformationalfunctions of a society have beenthoroughlytaken in by acorrupting influence and afraud,sothat onecannotaddress the situationwithoutimplicating,at leastincidentally, abroadswath of the power structure and thestatus quowhoat leasttoleratedit, if notprofiteddirectlyfromit, andmostlikely continue to doso.Sunday, August 26, 2012 |
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| Tom DiLorenzo |
 Obama’s 'You Didn’t Build It' Canard |
| Barack Obama recently proved once again that he is indeed a Proud Marxist (as Yuri Maltsev, former advisor to Mikhail Gorbachev, calls him) when he argued that successful American entrepreneurs "didn’t build" their businesses on their own. Government bureaucrats were mostly responsible for their success, the Marxist in the White House asserted, citing government-run schools, roads, etc. Like all Marxists, Barack Obama is belligerently ignorant of economics and is in denial of much of economic reality.Thursday, August 16, 2012 |
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| Nathan Lewis - New World Economics |
| The Dying Gasp of Monetarism |
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In U.S.politics, the Democrats have long supported soft-money policies, while the Republicans have supported hard-money policies.In practice, this meant that the Democrats might be in favor of some sort of currency devaluation or “easy money” solution, while the Republicans would stick to a gold standard system.Thursday, August 16, 2012 |
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