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 | Antal E. Fekete - Gold University |
| Fractional Reserve Banking Revisited |
| "Fractional reserve banking" is a misnomer as it suggests that part of the money created through the loan process is backed by nothing. In reality, the part not backed by gold reserve is fully backed by a bank asset called self-liquidating bill of exchange (bill for short). As Mises himself would admit, bills are capable of monetary circulation (as they did indeed circulate in the Manchester area that lay outside the boundaries of the monopoly of the Bank of England in the 19th century).Sunday, December 20, 2020 |
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 | Robert P. Murphy |
| The Gold Standard Did not Cause the Great Depression |
| Quarterly Journal of Austrian Economics 19, no. 1 (Spring 2016): 101–111[The Midas Paradox: Financial Markets, Government Policy Shocks, and the Great Depression by Scott Sumner]The Midas Paradox is an impressive piece of scholarship, representing the magnum opus of economist Scott Sumner. What makes the book so unique is Sumner’s use of real-time financial data and press accounts in order to explain not just broad issues—such as, “What caused the Great Depression?”—but to offer commentary on thThursday, November 12, 2020 |
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| Antal E. Fekete - Gold University |
 Forgotten Anniversary: One Hundred Years of Legal Tender  |
| The original meaning of legal tender simply referred to a tolerance standard applicable to the wear and tear of gold coins. Coins meeting the tolerance standard circulated by tale, that is, their value was established by counting them out ? a great convenienceSunday, November 1, 2020 |
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 | 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 valueThursday, October 29, 2020 |
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| Antal E. Fekete - Gold University |
| The Golden Thorn In The Flesh, Part 2 |
| .Thursday, October 22, 2020 |
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 | Rob Kirby - Kirby Analytics |
| Forensic Examination of the Gold Carry Trade |
| Friday, October 16, 2020 |
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| Antal E. Fekete - Gold University |
| The Supply of Oxen at the IMF |
| .Wednesday, October 7, 2020 |
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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 monetaryWednesday, September 2, 2020 |
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| Antal E. Fekete - Gold University |
| The Invention Of Discounting |
| Sunday, August 23, 2020 |
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| History of Silver |
 August 8, 1893 : The Repeal of the Silver Act |
| President Cleveland
Message on the Repeal of the Sherman Silver Purchase Act
(August 8, 1893)
The existence of an alarming and extraordinary business situation, involving the welfare and prosperity of all our people, has constrained me to call together in extra session the people's representatives in Congress, to the end that through a wise and patriotic exercise of the legislative duty, with which they solely are charged, present evils may be mitigated and dangers threatening the future may be averted.Saturday, August 8, 2020 |
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| Antal E. Fekete - Gold University |
Credit Unions  |
| Thursday, July 30, 2020 |
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| Missing and fractional gold - Market Force Analysis |
| Central Banks are NOT ordinary Gold Investors |
| "The differences in the degree of marketability is of the highest significance for the theory of money. The failure to recognize this is one of the essential causes of the backward state of monetary theory. The theory of money necessarily presupposes a theory of marketability of goods."
(Carl Menger On the Origin of Money, 1892)Tuesday, July 28, 2020 |
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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’.Thursday, July 16, 2020 |
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| Antal E. Fekete - Gold University |
| The Dismal Monetary Science |
| .Tuesday, May 19, 2020 |
|
 | Stewart Dougherty |
| Fort Knox, Fort Hocks or Fort Shocks: Three United States Gold Scenarios |
| For 72 years, the building at the intersection of Bullion Boulevard and Gold Vault Road in Fort Knox, Kentucky has symbolized the financial strength of the United States of America. The United States Bullion Depository, better known as Fort Knox, is said to contain 147.3 million troy ounces of gold, over half the nation’s total reported gold bullion holdings of 261.5 million troy ounces. The remaining 114 million ounces are said to be stored at the Denver and Philadelphia Mints, the West Point Bullion Depository, and the San Francisco Assay Office. Assuming a price of $1,000 / ounce, the nation’s gold is worth $261.5 billion. If the metal is actually there, it represents the largest sovereign stockpile of gold bullion in the world.Sunday, May 17, 2020 |
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 | Adrian Douglas - Market Force Analysis |
| Central Banks are NOT ordinary Gold Investors |
| Central banks do not sell gold to get a few billion of their own fiat money in return, money they probably would throw on top of the stack of half a trillion freshly printed notes that rolled off their presses just that morning. No, central banks sell gold to make it appearFriday, May 1, 2020 |
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 | Charleston Voice |
| Did Eisenhower Loot the Nazi Gold Treasures for his Bankster Handlers |
| In early 1945, it became clear that the military situation of the city had become hopeless.
East of the Red Army was approaching rapidly, and from the air let the constant series of Allied bombing raids after no more. At 31 January 1945 suggested that the Minister of Finance, Ernst-Friday, May 1, 2020 |
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| Charleston Voice |
| Nazi Gold: The Merkers Mine Treasure, How the US Army Stiffed the Soviets |
| “ Patton told Bernstein that he was very glad Eisenhower was taking responsibility for the gold. Bernstein told him that he wanted to move the Merkers treasure to Frankfurt as quickly as possible and that under the Big Three arrangements at Yalta, the Merkers part of Germany would be taken over by the Russians after the war and that they certainly needed to get the treasure out of the area before the Russians got there.”
I’m intrigued what the Russian feelings might have been(are). Noted theThursday, April 23, 2020 |
|
 | Bix Weir |
| The Three Gold Camps |
| I believe I have found a suitable starting point when I talk about Gold, and I’d like to share it with you to help explain “WHY” to your friends and family. With people who have little or no knowledge of gold, I have decided to start all conversations by narrowing down the different gold “Camps”. Let’s call them the “3 Gold Camps” and here they are:Monday, March 30, 2020 |
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| Charleston Voice |
| Germany's Stolen Gold Reserves - Times are changing - the debts remain (Russian) |
| Is the US Fedkeeping doublebookkeeper entries -addingGermany's plusothergovernments' goldincluded in the USclaimedreserves of 8,100+ tons? Show metheyaren't.
STERN REMINDER:It's notownershipthatcounts - -it'salwayswho has CONTROL! Bereminded ofthistruismwhenitcomes toyourownpersonalbankdeposits and "safe"deposit boxes.Saturday, March 21, 2020 |
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