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 | Antal E. Fekete - Gold University |
The Year of the Euro  |
| of scientists were engaged in hundreds of research projects believed to bring great benefits to the island nation. In one studio a painter employed blind helpers for the task of blending paints by smelling and tasting them. In this manner the olfactory and gustatory faculties could take their proper place in defining the spectrum of colors, a place long usurped by the faculty of vision. There was a studio where an ingenious architect was perfecting a new method to build human abodes from top to bottom. This was said to be justified by the kindred practice of those prudent insects, the bees and spiders.Saturday, August 17, 2019 |
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| Antal E. Fekete - Gold University |
| Keeping our Eyes Peeled for the Silver and Gold Basis |
| Here is a question for the discriminating observer. How is it that interest-rate derivatives do not obey the Law of Supply and Demand? The more there are of them, the more they are in demandSaturday, August 10, 2019 |
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| Antal E. Fekete - Gold University |
| Our Diseased Monetary Bloodstream |
| .Monday, August 5, 2019 |
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| Antal E. Fekete - Gold University |
| When Mises Went Wrong |
| .Sunday, August 4, 2019 |
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| Antal E. Fekete - Gold University |
 The Second Greatest Story Ever Told  |
| Fable has it that paper currency came into being as warehouse receipts issued by the goldsmith against gold left on deposit for safe-keeping. The owners found that they could make purchases with these warehouse receipts as easily as with gold coins. Then the goldsmith went on lending out at interest his fictitious warehouse receipts. According to this fable, the fraudulent business of the goldsmith in issuing warehouse receipts against non-existent gold was the embryonic form of the fractional-reserve banking of today.Friday, August 2, 2019 |
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| Antal E. Fekete - Gold University |
| What You Always Wanted To Know About Gold* |
| To say that the gold standard is not practicable is the same to say that honesty is not practicable, and Constitutions are made to be blithely ignored when convenient. The American Constitution, for example, mandates a metallic monetary standard for the United States in the clearest possible language. Opponents of the gold standard have never been able to muster up the moral fortitude to amend the Constitution so as to formalize the abolishing of theThursday, August 1, 2019 |
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| Antal E. Fekete - Gold University |
| The Federal Reserve As An Engine Of Deflation (sic!) |
| Although the Fed’s open market purchases of securities (always net) affect only the short end of the yield curve directly, through the transmission of risk-free bond speculation they will affect the rest of the yield curve indirectly. Thus the entire spectrum of interest rates will keep falling in consequence of the Fed’s open market purchases of Treasury bills (or equivalent). This is a powerful if unrecognized force in the economy causing a chain-reaction as follows:Wednesday, July 31, 2019 |
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| Antal E. Fekete - Gold University |
| Credit Unions |
| Tuesday, July 30, 2019 |
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| Antal E. Fekete - Gold University |
| The Fall and Rise of the Gold Standard |
| The gold standard can only be understood in the context of its clearing system, the bill market, trading real bills that move in a direction opposite to the flow of maturing goods to the final gold-paying consumer. Authors looking at the gold standard in isolation got a cock-eyed perspective. They have to invoke the quantity theory of money. The trouble is that, although it could explain linear changes, the quantity theory is helpless to explain non-linear phenomena such as dynamic changes. Whenever Mises talked about an “evenlySunday, July 28, 2019 |
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| Antal E. Fekete - Gold University |
 The Crash of the Bank of the United States |
| By the fourth quarter of 1930 the trouble with the Bank of United States gave occasion to grave concern.
The Bank of United States was a bank which ought never to have existed, and which certainly ought never to have had the name it had. One leading banker of New York went personally to Albany to protest against the giving of such a name to that bank or to any other bank, and was told that there was a political debt to pay.Friday, July 26, 2019 |
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| Antal E. Fekete - Gold University |
| The Two Sources Of Credit |
| Tuesday, July 23, 2019 |
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| Antal E. Fekete - Gold University |
| Has Hedging Killed The Goose - (Final Part) |
| .Thursday, July 18, 2019 |
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| Antal E. Fekete - Gold University |
| Gold Vanishing Into Private Hoards The Dollar: An Agonizing Reappraisal Part One |
| The first thing to know about gold is that there is no alternative to it. Gold is the one and only commodity that has no marketing problem. There is no sales resistance and no competition to overcome. A gold reserve is as important for the nation as a bank account for the firm or individual. You keep part of your funds in idle bank balances in order to be ’liquid’ - to be able to pay your bills. Gold is the ultimate and unquestioned world-wide ’liquidity’.Tuesday, July 16, 2019 |
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 | Dan Popescu - GoldBroker |
| The Gold Standard |
| According to Mises, money’s function as a medium of exchange is thus the central one, while its store of value and unit of account functions are merely subordinate functions. I would say store of value and unit of account is what makes the medium of exchange marketable. The medium of exchange has to be simple to understand, not only by educated people but also the most uneducated. It has to be easily accessed, not only in ideal circumstances but also in difficult ones. Many things have been trieWednesday, July 10, 2019 |
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| Antal E. Fekete - Gold University |
| Second Front In The Gold World |
| .Saturday, July 6, 2019 |
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 | Hugo Salinas Price - Plata.com |
 Copernicus, Galileo and Gold. Part II |
| The development of Economics and the development of Astronomy share interesting parallels.
Aristarchus of Samos – the Greek island that produced Pythagoras – was born in 310 B.C. Aristarchus set Astronomy on the path that would have led to its correct development by postulating the Sun as the center of the Universe, with the Earth revolving around the Sun while revolving around its own axis; he also set the planets in the correct order of their distance from the Sun.
Unfortunately, the preconceiTuesday, June 11, 2019 |
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| Hugo Salinas Price - Plata.com |
| Copernicus, Galileo and Gold. Part I |
| We are deceived when we consent to think about the “price of gold”. At the very outset of our thoughts regarding gold, we are wrong, just as astronomers prior to Copernicus were wrong in thinking about the solar system as geo-centric, with the Sun, Moon and planets describing perfect circles around Earth. Gold is - to follow the astronomical simile - the center of the monetary universe, and the planets - the currencies - circle the Sun, which represents gold.
The correct starting point isSunday, June 9, 2019 |
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| Antal E. Fekete - Gold University |
| How to protect one’s pension with Gold |
| Greed is as old as human race. The last time it overtook husbandry in the realm of gold was over 35 years ago. In 1968 you could still buy gold at $35 per oz. The price had not changed for 35 years, since 1933, in spite of six years of depression; six years of World War II; six years of Marshall give-away; six years of Korean War; six years of escalation of the Vietnam War; the Berlin blockade, the Cuban missile crisis and other Cold War battles. All these historic events have contributed to monetary depreciation in the order of 75 percent. The gold mining industry was badly hurting. Yet it kept producing and selling gold at break-neck speed as if there was no tomorrow. The gold producers of the 1960s, just as those of today, were doped by the paper-money magic. They were coaxed out of their possession of a real asset to exchange it for a phony one. In giving it up at a ridiculous price they were unwitting stooges helping postpone the day when gold could break its shackles. Nobody then or since has bothered pointing out the folly of the inmate who would ingratiate himself to the jail-keepers by assisting them to make his yoke heavier.Friday, May 31, 2019 |
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| Antal E. Fekete - Gold University |
| The Dismal Monetary Science |
| .Sunday, May 19, 2019 |
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| Antal E. Fekete - Gold University |
| The Gold Standard Manifesto |
| .Monday, May 13, 2019 |
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