Articles related to Central Bank
 
Frank Shostak
  Why It's Important to Define Money Correctly
Most economists hold that, since the early 1980s, correlations between various definitions of money and national income have broken down. The reason for this breakdown, it is held, is that financial deregulation has made the demand for money unstable. As a result it is held the usefulness of money as a predictor of economic events has significantly diminished.To fix the instability of the demand for money, economists have introduced a gauge of the money supply known as the Divisia monetary indic
Friday, November 15, 2019
John Butler - Goldmoney
Financial crisis dynamics, the ‘shadow’ gold demand, and Mene
The study of financial crises is as old as the economics discipline itself. One of the most prominent theorists of financial crises ever to hold a senior Federal Reserve policy position was John Exter, vice-president of the New York Federal Reserve during the 1950s. Several years ago I co-wrote a series of essays on Exter’s theories together with his sonin- law, Barry Downs. In this paper, building on Exter’s work, including his eponymous ‘pyramid’, I introduce a new ‘hourglass’ framework for un
Thursday, November 14, 2019
Frank Shostak
There Are Two Types of Credit — One of Them Leads to Booms and Busts
In the slump of a cycle, businesses that were thriving begin to experience difficulties or go under. They do so not because of firm-specific entrepreneurial errors but rather in tandem with whole sectors of the economy. People who were wealthy yesterday have become poor today. Factories that were busy yesterday are shut down today, and workers are out of jobs.Businessmen themselves are confused as to why. They cannot make sense of why certain business practices that were profitable yesterday are
Friday, November 1, 2019
John Paul Koning
  How the Fed Helped Pay for World War I
Governments can pay their bills in three ways: taxes, debt, and inflation. The public usually recognizes the first two, for they are difficult to hide. But the third tends to go unnoticed by the public because it involves a slow and subtle reduction in the value of money, a policy usually unarticulated and complex in design. In this article, I will look under the hood of the Federal Reserve during World War I to explain the actual tools and levers used by monetary authorities to reduce the value
Tuesday, October 29, 2019
Gold coins - Goldmoney
Gold coins: The Mexican Libertad
Mexico´s Libertad (Freedom) has been minted by the Mexican Mint “Casa de Moneda de Mexico” since 1981. After the South African Krugerrand and the Canadian Maple Leaf, the Mexican Libertad was the third modern bullion coin on sale at world markets. The gold coin, which is also known as “Onza”, is now one of the world’s top-selling coins. From 1981 to 1991 the Libertad had a purity of 90% (.900). As of 1991 the Mexican Mint increased the purity to 99.9 percent (.999).
Thursday, October 24, 2019
Antal E. Fekete - Gold University
The Golden Thorn In The Flesh, Part 2
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Tuesday, October 22, 2019
George F. Smith - Barbarous Relic
  The Virtue of Hoarding 
Most people would admit to hoarding money only with a tinge of guilt, because to be a hoarder carries with it the suggestion of being a miser — a Scrooge. And yet, every participant in an economy based on indirect exchange holds some amount of money and can be said to be hoarding it, that is, declining to spend it. Hoarding is a strategy for achieving personal goals or for dealing with economic uncertainty.
Saturday, October 19, 2019
Rob Kirby - Kirby Analytics
Forensic Examination of the Gold Carry Trade 

Wednesday, October 16, 2019
Antal E. Fekete - Gold University
The Supply of Oxen at the IMF
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Monday, October 7, 2019
Antal E. Fekete - Gold University
The New Austrian School of Economics 
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Thursday, October 3, 2019
Frank Shostak
Inflation's Not the Only Way Easy Money Destroys Wealth 
The US Federal Reserve can keep stimulating the US economy because inflation is posing little threat, Federal Reserve Bank of Minneapolis President Kocherlakota said. “I am expecting an inflation rate to run below two percent for the next four years, through 2018,” he said. “That means there is more room for monetary policy to be helpful in terms of … boosting demand without running up against generating too much inflation.” The yearly rate of growth of the official consumer price index (CPI) s
Friday, September 27, 2019
Antal E. Fekete - Gold University
The Hungarian Connection 
Gold is the most misunderstood metal in human history, because of the economists' failure to distinguish between its dynamic and static aspects in representing values. Economists have blithely assumed all along that the value of gold is the same whether it flows freely from one hand to the next, or whether the movement of gold is obstructed, in the worst case arrested, by the government (soon to be aped by banks and individuals
Wednesday, September 25, 2019
Robert Blumen
Does Gold Mining Matter
Mine supply has very little influence on the price of gold. Anyone who agrees that the gold trade is a market would accept the premise that the price depends on supply and demand. Where most analysts go wrong is to analyze gold using what I will call the consumption model. This model counts the current year's mine production plus scrap (and, in some versions, central-bank sales) as supply, and the current year's purchases of jewelry, coins, bars, and industrial gold as demand.
Monday, September 23, 2019
Antal E. Fekete - Gold University
Gotterdammerung
Wagner's opera Gotterdämmerung is about the twighlight of pagan gods. The most powerful of the latter-day pagan gods that has been guiding the destinies of humanity for the past two-score of years is Irredeemable Debt. Before August 14, 1971, debts were obligations, and the word "bond" was to mean literally what it said: the opposite of freedom. The privilege of issuing debt had a countervailing responsibility: that of repayment.
Wednesday, September 18, 2019
Alasdair Macleod - Finance and Eco.
The fiat money quantity (FMQ) 
Summary : This paper seeks to establish a measure of currency quantity that helps economists identify and estimate the risk that confidence in fiat currencies might be significantly eroded or even vanish altogether. It is this phenomenon that was referred to in the great European currency inflations of the 1920s as Katastrophenhausse, or a crack-up boom, when ordinary people lose all confidence in a fiat currency, disposing of it as rapidly as possible instead preferring ownership of goods.This is
Tuesday, September 17, 2019
Charleston Voice
FOMC Minutes from 1967 Illuminating Central Bank Gold Price Suppression, Market Manipulations
The issue before us here is not so much the mechanics of deception, but the tenacity and conviction of the banking cartel to use any means to protect themselves.
Saturday, September 14, 2019
Gold university - Antal E. Fekete
The Gold Demonetization Hoax

Thursday, September 5, 2019
Dan Popescu - GoldBroker
  Above-ground Gold Stock - How Much Is There and Why Does it Matter 
To understand the price of gold, the relevant supply is the total supply, not the new supply coming to market during the last year, week or month. The supply of gold consists of all of the supply that exists, and the relevant demand is the total demand, not the new demand coming to market during any year. For gold, there is always a large stockpile, and it never gets smaller. The vast majority of all the gold mined throughout human history still exists and is held either in bars, coins, or jewel
Sunday, September 1, 2019
Wolf Richter
Negative Yields Not Required: Even “Low” Interest Rates Screw Up the Economy
How to make a mess in the era of low demand. This is the transcript from my podcast last Sunday, THE WOLF STREET REPORT: Now the plot thickens: I’ve got a former Secretary of the Treasury backing me up. We’ve already seen, including in my last podcast, how negative interest rates screw up the economy. Negative interest rates are so absurd that just thinking about them gives me a headache. In the era of negative interest rates, owning financial assets such as government bonds, or savings in the b
Thursday, August 29, 2019
Steve Saville - Speculative Investor
Basic Gold Market Facts 
Here are ten basic gold-market realities that are either unknown or ignored by many gold 'experts'.1. Supply always equals demand, with the price changing to maintain the equivalence. In this respect the gold market is no different from any other market that clears, but it's incredible how often comments like "demand is increasing relative to supply" appear in gold-related articles.2. The supply of gold is the total aboveground gold inventory, which is currently somewhere in the 150K-200K tonne
Wednesday, August 14, 2019
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