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| Sprott Money |
| Death Valley Snowballs and Fiat Currencies - Gary Christenson |
| Keep it simple!
Snowballs have a short life expectancy in Death Valley.
Fiat currencies, backed by credit and debt, survive longer than
snowballs in Death Valley, but history shows all fiat currencies are
inflated into worthlessness and eventually die.
“U.S. dollars have value only to the extent that they are strictly limited in supply.”
Ben Bernanke on November 21, 2002. But we know the supply of dollars
has grown rapidly since 1971, and especially after the 2008 crisis while
BernaTuesday, February 18, 2020 |
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 | George F. Smith - Barbarous Relic |
| Gary North on central banking, gold, federal debt, and Keynesianism |
| I have never met Gary North and probably never will.Yet, through his writings he has had a far-reaching influence on my thinking, especially with regard to government and economics.He runs a membership website, GaryNorth.com.For $14.95 a month you get access to everything on the site, including four daily articles that he writes six days a week and posts while most people are still asleep.Members can ask questions in the forums to which he and other members will post replies.
North wrote whatMonday, February 17, 2020 |
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 | Philip Judge - Anglo Far East |
Inflation And Alan Greenspan  |
| Alan Greenspan 1967
"As the supply of money increases relative to the supply of tangible assets in the economy, prices must eventually rise. In the absence of the gold standard, there is no way to protect savings from confiscation through inflation. There is no safe store of value".
Alan Greenspan 1981
"A return to a gold standard (would be) a basic change in our economic processes. A gold-based monetary system will necessarily prevent fiscal imprudence. Once achieved, the discipline of the gold standard would surely reinforce anti-inflation policies, and make it far more difficult to resume financial profligacy".Saturday, February 15, 2020 |
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 | Frank Shostak |
| Why We Now Measure Gold in Dollars — and Not the Other Way Around |
| Prior to 1933, the name "dollar" was used to refer to a unit of gold that had a weight of 23.22 grains. Since there are 480 grains in one ounce, this means that the name dollar also stood for 0.048 ounce of gold. This in turn, means that one ounce of gold referred to $20.67.Observe that $20.67 is not the price of one ounce of gold in terms of dollars as popular thinking has it, for there is no such entity as a dollar. Dollar is just a name for 0.048 ounce of gold. On this Rothbard wrote,No one pMonday, February 10, 2020 |
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 | Michael J. Kosares - USA Gold |
| “Accommodative” |
| Though not a new word to describe Fed policy intentions, using it in today’s statement in the context of obviously rising inflation and inflationary expectations is a new policy stance and one very favorable for gold and likely the Trump administration as well. It seems that the Fed is willing to chase the inflation rate rather than trump it (forgive the reference), and as long as that’s the case, the markets will read inflation into the economic script for the future.
I think some were expectinSunday, February 2, 2020 |
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 | Lew Rockwell |
 Our Enemy, the Executive State  |
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The modern
institution of the presidency is the primary political evil Americans
face, and the cause of nearly all our woes. It squanders the nationalSaturday, January 25, 2020 |
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 | Nathan Lewis - New World Economics |
| Gold Standard Technical Operating Discussions 2: More Variations |
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Last week, we were talking about some of the technical issues of operating a gold standard system.There are actually quite a few different ways you can do things.
January 8, 2012: Some Gold Standand Technical Operating Discussions
We looked at a few options: one was a standard currency board with another currency.Friday, January 24, 2020 |
|
 | Alasdair Macleod - Finance and Eco. |
| The origin of cycles |
| It was Karl Marx who was among the first believers that cyclical behaviour was endemic to free markets.He lived through a time when there was a regular cycle of boom and bust, with phases of economic expansion followed by contraction. Workers were employed and then unemployed, and the only way this could be stopped, in Marxian economics, was for the workers to acquire the means of production, or more correctly, the state to do so on their behalf.Other economists, such as Jevons and Wicksell, recFriday, January 24, 2020 |
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| Bullion Vault |
| Gold Bullion Gains Extend ETF Growth as Inflation Worries Hit 'Even the Yellen Fed' |
| GOLD BULLION held around $1240 per ounce in London trade Thursday, retaining its 3-month high as commodity markets pushed towards new 18-month records.
With energy costs
already driving up headline inflation rates worldwide, Brent crude oil today rose above $55 per barrel as Nymex natural gas contracts traded 90% above their price of this time last year.
Silver bullion held firm witSunday, January 12, 2020 |
|
 | Hugo Salinas Price |
| Thoughts on gold and humanity |
| The supply of gold is largely misunderstood. According to MSM, gold supply is what is mined every year and brought to market – about 2,500 tonnes.
This is a big mistake. The supply of gold is calculated at about 170,000 tonnes, made up of virtually all the gold ever mined since mankind took notice of its existence as shiny yellow pebbles in sand “placers” in riverbeds. Every ounce –every gram - of this supply is owned by someone, either a person or an institution.
This brings up another point,Friday, January 10, 2020 |
|
 | Mike Hewitt - Dollar Daze |
| America's Forgotten War Against the Central Banks |
| "Let me issue and control a nation's money supply, and I care not who makes
its laws." (Mayer Amschel Rothschild, Founder of Rothschild Banking Dynasty)
Many prominent Americans such as Benjamin Franklin, Thomas Jefferson, and
Andrew Jackson have argued and fought against the central banking polices used
throughout Europe.
A note issued by a central bank, such as the Federal Reserve Note, is bank
currency. These notes are given to the government in exchange for an interest-bearing
gSunday, January 5, 2020 |
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| George F. Smith - Barbarous Relic |
| Fielding my grandson’s questions about gold and banking |
| My grandson had quite a day at school.He had learned that the economy had been suffering from things called Panics, capital P, during the 19th century and had another big one in the early 20th century.He had been told that responsible, public-spirited men like J. P. Morgan had organized a central bank to prevent those Panics.He and other bankers finally got the government to go along with their idea and pass it into law in late 1913.And wouldn’t you know it — we’ve had no more Panics since then.Tuesday, December 24, 2019 |
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| Frank Shostak |
Why Fractional-Reserve Banking Would Be Limited in an Unhampered Market  |
| The so-called multiplier arises as a result of the fact that banks are legally permitted to use money that is placed in demand deposits. Banks treat this type of money as if it was loaned to them, thus loaning it out while simultaneously allowing depositors to spend that money.RELATED: "Austrians, Fractional Reserves, and the Money Multiplier" by Robert BatemarcoFor example, if John places $100 in demand deposit at Bank One he doesn't relinquish his claim over the deposited $100. He has unlimiteSunday, December 22, 2019 |
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| Frank Shostak |
| How Interest Rates Affect Time Preference — and Vice Versa |
| According to the writings of Carl Menger and Ludwig von Mises, the driving force of interest rate determination is individual’s time preferences. What is this all about?As a rule, people assign a higher valuation to present goods versus future goods. This means that present goods are valued at a premium to future goods.This stems from the fact that a lender or an investor gives up some benefits at present. Hence, the essence of the phenomenon of interest is the cost that a lender or an investorSunday, December 15, 2019 |
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| BullionStar - Bullion Star |
| The 5 Largest Gold Nuggets that Still Exist |
| Throughout gold rush and gold mining history, the discovery of a large gold nugget is a phenomenon which always causes excitement throughout a mining community as well as capturing the wider public's imagination. It has probably something to do with so much gold being found at the same time, often with relative ease.
Gold nuggets can be found in alluvial deposits (sediments formed by water movement) or in other placer deposits (formed by other movement), but gold nuggets can also be found in or Sunday, December 15, 2019 |
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 | Antal E. Fekete - Gold University |
| That Accursed Propensity To Save |
| .Saturday, December 7, 2019 |
|
 | Thorsten Polleit |
| November 15, 1923: The End of German Hyperinflation |
| On 15 November 1923 decisive steps were taken to end the nightmare of hyperinflation in the Weimar Republic: TheReichsbank, the German central bank, stopped monetizing government debt, and a new means of exchange, theRentenmark, was issued next to thePapermark (in German:Papiermark). These measures succeeded in halting hyperinflation, but the purchasing power of thePapermark was completely ruined.Friday, November 22, 2019 |
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| Frank Shostak |
| How Inflation and Unemployment Are Related |
| A fall in the US unemployment rate to 4.6% in November from 4.9% in the month before, and 5% in November last year, has prompted some commentators to suggest that we are almost at the so-called natural rate, which is believed to be at around 4.5%.It is held that once the unemployment rate falls below an "optimal" rate — called the Non-Accelerating Inflation Rate of Unemployment (NAIRU) — it sets off an inflationary spiral.
This acceleration in the rate of inflation takes place through inSunday, November 17, 2019 |
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| Frank Shostak |
| Inflation Is Not About Price Increases |
| There is almost complete unanimity among economists and various commentators that inflation is about general increases in the prices of goods and services. From this it is established that anything that contributes to price increases sets in motion inflation.A fall in unemployment or a rise in economic activity is seen as a potential inflationary trigger. Some other triggers, such as rises in commodity prices or workers’ wages, are also regarded as potential threats.If inflation is just a generaSaturday, November 16, 2019 |
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| 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 indicFriday, November 15, 2019 |
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