Articles related to Paper money
Nathan Lewis - New World Economics
The Nonexistent 'Social Costs' of a Gold Standard System
One of the odd notions that has come down through the years is that a gold standard system has “social costs.” It does not. It creates a profit. Of course, it does take effort to dig gold out of the ground. However, gold production never ceased after the end of the world gold standard in 1971. Roughly half of all the gold ever mined, in all of history, has been mined after 1971. Annual production today is the highest in history, and about double what it was in 1970. People seem happy to continu
Friday, June 7, 2019
Frank Shostak
How Much Money should there be  
Most economists believe that a growing economy requires a growing money stock, on grounds that growth gives rise to a greater demand for money which must be accommodated. Failing to do so, it is maintained, will lead to a decline in the prices of goods and services, which in turn will destabilize the economy and lead to an economic recession-or, even worse, depression
Thursday, June 6, 2019
Gold Secrets - Bix Weir
Golden Secrets (V) Chocolate Mountain Military Base 
Here's where it gets a little tricky. The largest gold mine in the world is reported to be the Grasberg Mine in Indonesia with estimated reserves of 1,250 tons of gold (40M oz). According to USGS the total economically mineable gold reserves in the world is only 100,000 tons. And of that the USA only holds about 5,500 tons...or do we?
Tuesday, June 4, 2019
George F. Smith - Barbarous Relic
  Who paid for the Civil War  
When war broke out in 1861, the federal government was without its own money machine, though that would soon change. As expenses from the war mounted, the U.S. government once again issued Treasury Notes to help finance it. The Act of July 17, 1861 authorized Secretary of the Treasury Salmon P. Chase to issue notes at 7.
Wednesday, May 22, 2019
Antal E. Fekete - Gold University
The Dismal Monetary Science
Sunday, May 19, 2019
Philip Judge - Anglo Far East
Peter Daniels Talks On "Gold" Part 2

Sunday, May 19, 2019
Robert Blumen - 24hgold
Real Bills, Phony Wealth 
"The masses are misled by the assertions of the pseudo-experts,” wrote Mises, “that cheap money can make them prosperous at no expense whatever.” The damage that this inflationary fallacy has done to our monetary institutions cannot be over-estimated. In spite of efforts by classical and Austrian economists to refute it, it refuses to die. It has been resurrected under many guises, but all with the same error at its core: that printing money can create real wealth.
Monday, May 13, 2019
Nathan Lewis - New World Economics
The Bank of England, 1844-1913
In 1844, there was a new regulation of the Bank of England called the Bank Charter Act of 1844, also known as Peel's Act. Read Wikipedia on the Bank Charter Act of 1844 This officially made the Bank of England the sole issuer of banknotes in England, although it was functionally the sole issuer before then. It also split the Bank into two Departments: an Issue Department, wholly responsible for banknotes, and a Banking Department, which was not involved in
Monday, April 22, 2019
All Paper is STILL a short position on gold 
The gold derivatives pyramid is a vigorous free market creature. It cannot be put down with a simple declaration that the paper is no longer redeemable in gold, as governments did with currency. It is a short selling scheme that has become a trap from which few short sellers will escape
Wednesday, April 17, 2019
Mike Hewitt - Dollar Daze
  Hyperinflation around the Globe 
Angola (1991-1999) Angola went through the worst inflation from 1991 to 1995. In early 1991, the highest denomination was 50,000 kwanzas. By 1994, it was 500,000 kwanzas. In the 1995 currency reform, 1 kwanza reajustado was exchanged for 1,000 kwanzas. The highest denomination in 1995 was 5,000,000 kwanzas reajustados. In the 1999 currency reform, 1 new kwanza was exchanged for 1,000,000 kwanzas reajustados. The overall impact of hyperinflation: 1 new kwanza = 1,000,000,000 pre-1991 kwanzas.
Monday, April 15, 2019
Mike Hewitt - Dollar Daze
America's Forgotten War Against the Central Banks
In order to pay debts incurred from the Seven Years War with France, King George III of England sought to heavily tax the colonies in America. In 1742, the British Resumption Act required that taxes and other debts be paid in gold.
Thursday, April 11, 2019
Frank Shostak
The Connection Between Money-Supply Growth and Inflation
In the article “Rapid money supply growth does not cause inflation” written by Richard Vague at the Institute for New Economic Thinking, December 2, 2016, the author argues that empirical evidence shows that increases in money supply has nothing to do with inflation. According to Vague,Monetarist theory, which came to dominate economic thinking in the 1980s and the decades that followed, holds that rapid money supply growth is the cause of inflation. The theory, however, fails an actual test of
Tuesday, April 9, 2019
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:
Saturday, March 30, 2019
Nathan Lewis - New World Economics
  The Story of Gold Money, Past, Present and Future, by Edwin Walter Kemmerer
There aren’t a lot of good books about the gold standard — the monetary system of the world until 1971 — after WWI. There aren’t a lot before WWI either, but it starts to get pretty bad after 1920. Ralph Hawtrey’s books have some merits, but they also have too many errors to serve as a definitive source. Gold and the Gold Standard: The Story of Gold Money, Past, Present and Future (1944) is something of an exception to this pattern. Edwin Walter Kemmerer was a professor at Princeton. Wikipedia o
Tuesday, March 26, 2019
Michael S. Rozeff - Mike S. Rozeff
  The US Constitution and Money 
This article outlines what the U.S. Constitution’s clauses and references to money mean. It examines constitutional money from a legal perspective. It does not examine money and banking from an ethical, economic, or political point of view. The idea is simply to set down in the clearest terms possible what kind of money is legal in the U.S., according to the Constitution, and what kind of money is not.
Wednesday, March 20, 2019
Mark O'Byrne -
A beginner's guide to investing in Gold 
One’s motivation for buying gold is fundamental to deciding in which form you should buy it. Are you a speculator, investor or saver? Do you wish to take a short term speculative position in gold? Are you investing for the short, medium or long term? Or are you diversifying, saving or using gold as a form of financial insurance?
Sunday, March 10, 2019
David Morgan - Silver Investor
  Correcting Antal Fekete's Historical Silver Errors 
In "The Double Whammy of Geopolitical Gold Games reposted in February 2013 (from January 31, 2008) by Antal Fekete he stated some errors of fact! Marco Polo, guide us on this excursion to China! Bruce Lee, help our reflexes to be as fast as yours! May we not be slap happy like Jackie Chan! Wo Fat, do not mislead us! Antal mentioned China's silver money system going back to the 16th century, then stated" "CHINA'S EXTERNAL TRADE WAS INSIGNIFIC
Saturday, March 2, 2019
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 p
Sunday, February 24, 2019
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 China
Tuesday, February 12, 2019
Nathan Lewis - New World Economics
Gold Standard Technical Operating Discussions 2: More Variations
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.
Wednesday, January 30, 2019