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| RATIOS & INDEXES |
| Gold / Silver | 61.12 |
| Gold / Oil | 14.35 |
| Dowjones / Gold | 11.16 |
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 | Articles related to Rothbard |  |
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 | 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.Monday, May 20, 2013 |
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| George F. Smith - Barbarous Relic |
| Wildcat Inflation Fighters |
| Summary: Though banking and government have had a corrupt relationship throughout history, the Suffolk Bank and Independent Treasury System, both of which were prominent during the “wildcat banking” era of the 19th Century, represent significant efforts at reform.
In his 1994 book,Money Mischief: Episodes in Monetary History, Milton Friedman, never a champion of a gold commodity monetary system in spite of hisdisillusionment with fiat money regimes late in life, tells us that:
Throughout recorded history .Thursday, May 16, 2013 |
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 | Lew Rockwell |
| The Commissars Want To Destroy LRC |
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The most despicable
group of political gangsters in America have targeted this site
and everything it stands for destruction. Who are they? The neoconserMonday, April 29, 2013 |
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 | Mish - Global Economic Analysis |
| Mish Interview With "Bitcoin Jesus" |
| Of all the topics that readers have pleaded me to write about for months but I never did until now, "bitcoins" are at the top of the list.
In private emails, I stated on many occasions "bitcoins are a scam". I now take that back, "scam" is not the correct word. Others whose opinions I highly respect, state the same thing.
For example, Geoff Turk at GoldMoney stated in an email response:
"I have spent quite a bit of time researching Bitcoins and have not found anything scam-like about them.Monday, April 29, 2013 |
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 | Frank Shostak |
The Bitcoin Money Myth  |
| Many economists and financial commentators believe that in the unregulated market of the internet economy, new forms of money can be created that bypass
central-bank and government supervision. The latest development is the emergence of a new electronic means of exchange, Bitcoin (BTC). Bitcoin was launched
on January 3 2009 by its inventor, a programmer called Satoshi Nakamote.
The basic idea behind Bitcoin is to create, by means of a mathematical algorithm, a digital good that is scarce andSaturday, April 20, 2013 |
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| 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.Monday, April 15, 2013 |
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| Lew Rockwell |
| Emulate Ron Paul |
| I?ve had the privilege of knowing Ron Paul for 37 years. I worked as his chief of staff during his early years in Congress, and he played an important role when I opened the Mises Institute, where he has served as our distinguished counselor ever since.
He?s the same person in private life that he is in public: thoughtful, decent, humble, self-effacing, and generous in acknowledging his intellectual debts.Tuesday, April 09, 2013 |
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 | Robert Blumen - 24hgold |
 The Myth of the Gold Supply Deficit |
| Analyses based on annual supply and demand of gold appear on a daily basis, whether posted to gold web sites or in the financial media, many of them by the most respected analysts of gold mining shares. These articles typically show an imbalance between supply and demand, suggesting that there is a gold supply deficit. From there, the conclusion follows that a much higher gold price is required in order to bring supply and demand into balance.Thursday, April 04, 2013 |
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 | Trace Mayer - Run to Gold |
 Why Michael Pento Should Just Keep His Mouth Shut  |
| Tweet
One aspect of technology is that it takes intellectual capacity along with consistent and diligent effort to become competent.Michael Pento, a fairly prominent gold bug, recently appeared on CNBC for a discussion on Bitcoin. Based on his performance the only thing I could think of was, ‘This has to be an April Fools joke. Then my mind shifted to the phrase that it is better to remain quiet and be thought a fool than to open one’s mouth and remove all doubt.’
Mr. Pento really should have reWednesday, April 03, 2013 |
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| George F. Smith - Barbarous Relic |
In counterfeiting we trust  |
| If there is one central myth supporting the folly that passes for monetary policy and by extension fiscal policy, it would have to be the unchallenged assumption that money should be defined and controlled by government. Given the role of money in the economy - that it is one-half of virtually every transaction - nothing has been more destructive to the well-being of most people than the government’s usurpation of money from the market.Money was once the most marketable commodity (Ludwig von MiMonday, April 01, 2013 |
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| Lew Rockwell |
| Want To Understand Money? |
| It was Carl Menger who demonstrated how money could emerge on the free market, and Ludwig von Mises who demonstrated that it had to emerge that way. In this as in so many other areas, Mises broke with the reigning orthodoxy, which in this case held that money was a creation of the state and held its value because of the state’s seal of approval. A corollary of the Austrian view was that fiat paper money could not simply be created ex nihilo by the state and imposed on the publicThursday, March 28, 2013 |
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 | Charleston Voice |
| Anatomy of the Bank Run - Murray N. Rothbard |
| Another Constitutional violation by government that we seldom mention... can you identify it? [hint: contract clause?]
Mises Daily: Monday, March 25, 2013 by Murray N. Rothbard
[This article is featured in chapter 79 of Making Economic Sense by Murray Rothbard and originally appeared in the September, 1985 edition of The Free Market]
It was a scene familiar to any nostalgia buff: all-night lines waiting for the banks (first in Ohio, then in Maryland) to open; pompous but mendacious assTuesday, March 26, 2013 |
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 | Tom DiLorenzo |
| Frederic Bastiat (1801-1850): Between the French and Marginalist Revolutions |
| CLAUDE FREDERIC BASTIAT was a French economist, legislator, and writer who championed private property, free markets, and limited government. Perhaps the main underlying theme ofBastiat's writings was that the free market was inherently a source of "economic harmony" among individuals, as long as government was restricted to the function of protecting the lives, liberties, and property of citizens from theft or aggression.Monday, March 18, 2013 |
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| Robert Blumen |
The Deflationary Spiral Bogey  |
| What is deflation? According to dictionary.com, it is “a fall in the general price level or a contraction of credit and available money.”
Falling prices. That soundsgood, especially if you have set some cash set aside and are thinking about a major purchase.
But as some additional research with Google would seem to demonstrate, that would be a naïve and simple-minded conclusion.Thursday, February 21, 2013 |
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| Lew Rockwell |
| Quizzing Lew Rockwell |
| ROCKWELL: I think I have to credit my dad, who was an Old Right Republican. And, in fact, my first political memory is of him pinning a "Taft for President" button on my coat –
(Laughter)
– my winter coat in Boston.
WOODS: Pretty good start though.
ROCKWELL: Yes. So he got me interested in a lot of it. But I also think there's something to the point Ron Paul always makes. He thinks that many of us are born Libertarians. And so I can remember very early on, in school, arguing with one of my teachers. This is long before the '64 Civil Rights Act, but he was arguing for that sort of a bill. And I can remember saying – this is in the seventh grade; having a long argument. It just didn't seem to me right to have the government force business people to have customers they didn't want to have. Now, whether their motives, the business peoples' motives were right or not, you know, that was for somebody else to decide. But that the government should be able to use force to bring about the social changes it wanted just seemed to be wrong. So I think from a very early age I just was inclined against government power.Sunday, February 10, 2013 |
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| Lew Rockwell |
| A Better Century? |
| In December it will be 100 years since Congress authorized the creation of the Federal Reserve System. Throughout that century the Fed has enjoyed broad bipartisan support. That?s another way of saying the Fed never appeared on the political radar until Ron Paul broke the rules by actually campaigning against it in 2007.Sunday, February 03, 2013 |
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| Lew Rockwell |
| A Misesian Century? |
| In December
it will be 100 years since Congress authorized the creation of the
Federal Reserve System. Throughout that century the Fed has enjoyed
broad bipartisan support. That?s another way of saySaturday, February 02, 2013 |
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 | Jon Matonis - The Monetary Future |
| Market Forces and Fractional Reserve Banking |
| Ralph Musgrave made a blog post "Lawrence White Tries to Argue for Fractional Reserve Banking" where he criticises some of the arguments made by Lawrence White in testimony on his fractional-reserve banking. I tend to agree with many of the things Ralph wrote, but here I'll concentrate on one aspect where I disagree.Friday, February 01, 2013 |
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| George F. Smith - Barbarous Relic |
| Lessons not learned from World War II |
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Policymakers today draw what they consider obvious conclusions from the Good War.The New Deal had been chipping away at unemployment and the economy was recovering, but then Japan’s surprise attack provided the political means for allowing the government to shift gears.Over the next four years the American economy got a heavy dose of Keynesianism, and the results prove the Keynesian case: GDP soared and unemployment all but disappeared.Monday, January 14, 2013 |
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