Articles related to fixed
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.
Wednesday, August 8, 2018
Hyperinflation - USA Gold
  The Nightmare German Inflation 
Hey, Mr. Chairman, in case you haven't noticed, the Federal Reserve already has a goodly supply of oxen! My father was fond of relating a story about a professor lecturing on geography. A short fellow, he was extolling the agriculture of Switzerland. "In our country oxen are not even as tall as I am. In some countries you see oxen just as tall as myself. But, believe it or not, on the fat pastures of Switzerland there are even greater oxen than myself". For emphasis the good professor stood on his tiptoes and stretched his hand upwards above his head. "We don't believe so!" - shouted someone from the back benches of the lecture theater.
Friday, July 27, 2018
Charleston Voice
Commodity Prices in US Dollars 1831-1881, Gold @US$20.67 
All prices for all commodities were remarkably stable during this period in which gold was fixed at US$20.67 per ounce by the US Treasury from the time of our country's founding. Gold remained at that price until Congress surrendered its authority to the Federal Reserve in 1913. So, an ounce of gold would have exchanged for 20 silver dollars. This means of commerce would have been accurately termed a "Gold Coin Exchange Standard", and NOT a "gold standard", as the money was in the hands of the p
Monday, July 23, 2018
Frank Shostak
Is Money Created by Government Decree
According to popular view people accept money because of a government decree.1 A government decree it is argued makes a particular thing accepted as a general medium of exchange. But, does it make sense?Demand for a good arises from its perceived benefit. For instance, people demand food because of the nourishment it offers them. It is different with money people demand it not for direct use in consumption but in order to exchange it for other goods and services.Money is not useful in itself, bu
Wednesday, July 18, 2018
Nathan Lewis - New World Economics
Blame Gold
We have been talking about The Midas Paradox (2015), by Scott Sumner. July 23, 2017: The Midas Paradox (2015), by Scott Sumner. As you probably guessed from the three-word title, the book can be summarized in two words, which are: “blame gold.” This, as we have seen, is actually a relatively new notion, even if it enjoys some popularity today. The general consensus, which later (after 1950) became the Keynesian consensus, did not blame gold, or indeed, monetary policy in general, for the Great D
Tuesday, July 17, 2018
Julian D. W. Phillips - Gold Forecaster
Manipulation /Management : Controlling the Gold Price
There is much talk of price management/manipulation in almost all markets. These charges are met with denial, silence and scorn. There are several aspects of markets that can give the opportunity to manage/manipulate prices. Often we think of market manipulation solely in terms of heavy buyers and/or sellers overwhelming the markets.
Sunday, July 8, 2018
Frank Shostak
Why Wage Growth Is So Weak
The yearly growth rate of average hourly earnings in production and non-supervisory employment in the private sector eased to 2.3% in June from 2.4% in May.Many experts are puzzled by the subdued increase in workers earnings. After all, it is held the US economy has been in an expansionary phase for quite some time now. Softer real output growth important reason why hourly earnings remain under pressureAccording to the US Government’s own data, since 2000, in terms of industrial producti
Tuesday, July 3, 2018
Mish - Global Economic Analysis
  How Much Gold Should Someone Own Where and How To Own It 
Periodically I receive questions on gold ownership. How much should one own, and where? Let's start with the first question: How Much Gold Should Someone Own? There is no fixed answer, but rather a general methodology that I like: Do not invest outside your comfort zone. Think in terms of percentages, not fixed amounts. For some, 10% is too much, for others 30% is too little. Some do not trust anything else and are willing to hold a huge percentage of their assets in gold  If a 30% decline
Sunday, July 1, 2018
History of Gold
  (-1780) Gold and Silver in the Code of Hammurabi 
When Anu the Sublime, King of the Anunaki, and Bel, the lord of Heaven and earth, who decreed the fate of the land, assigned to Marduk, the over-ruling son of Ea, God of righteousness, dominion over earthly man, and made him great among the Igigi, they called Babylon by his illustrious name, made it great on earth, and founded an everlasting kingdom in it, whose foundations are laid so solidly as those of heaven and earth; then Anu and Bel called by name me, Hammurabi, the exalted prince, who feared God, to bring about the rule of righteousness in the land, to destroy the wicked and the evil-doers; so that the strong should not harm the weak; so that I should rule over the black-headed people like Shamash, and enlighten the land, to further the well-being of mankind.
Sunday, July 1, 2018
Fiat 33 
"Sir, I would say, "Old World Order" to return. To understand/explain better: A very easy way to view this "order", would be to simply say that the American Experience is reaching the end! As we know, world war two left Europe and the world economy destroyed. Many thinkers of that period thought that the world was about to enter a decades long depression as it worked to rebuild real assets lost in the conflict. It was this war that so impacted the idea of looking positively toward the fu
Friday, June 29, 2018
Hugo Salinas Price -
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 is
Sunday, June 17, 2018
Alasdair Macleod - Finance and Eco.
  Understanding money and prices
This article explains the money side of prices, and why government currencies, unbacked by gold, are doomed to collapse. And why gold, which is the sound money chosen by markets throughout history, will retain or increase its purchasing power measured in the goods it buys over the coming years.Very few people have a full understanding of the relationship between money and goods. This is the relationship that sets prices. Yet, without that understanding, central banks will almost certainly fail i
Sunday, June 17, 2018
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 14, 2018
Adrian Ash - Bullion Vault
Precious Metals Leasing Explained
Whatis precious metals leasing, and why is it done...? LEASINGis an integral part of the precious metals market,writes Miguel Perez-Santalla at BullionVault. Why is it necessary? For a diverse number of reasons, the first is the need for industry to borrow instead of buying outright the metal. This enables them to avoid owning the metal at a fixed price if they have not yet contracted to sell their product.
Thursday, May 31, 2018
Antal E. Fekete - Gold University
The Dismal Monetary Science
Sunday, May 27, 2018
What is Freegold
Four years ago, Freegoldtube made a video titled "What is Freegold?" It evolved out of a series of events that began with the stunning collapse in the price of gold, from $1,600 down to $1,380 in first half of April, 2013. That collapse caused Jim Sinclair to email me asking about Freegold, which caused him to then make some confusing posts on his own blog about Freegold, which caused Ein Anderer to suggest that we were in "urgent need" of a short and simple explanation of Freegold. He persist
Tuesday, May 15, 2018
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 23, 2018
Mickey Fulp - Mercenary Geologist
Gold, Silver, and the US Dollar: 1792-1971
In today's musing, I review the history of gold, silver, and fiat currency as money in the United States of America. I document how various wars, panics and depressions, Congressional acts, and executive orders have affected the US dollar prices of precious metals and resulting gold-silver ratios.This musing covers the period from 1792 when the United States government first established a national currency backed by gold and silver until
Thursday, April 19, 2018
Bron Suchecki - Perth Mint
How are Gold and Silver Spot Prices Determined
There are two key markets in which the prices of gold and silver are determined. 1. Over-the-Counter (OTC) The OTC market consists of traders dealing with other traders on a one-on-one basis. It operates much like the internet – it is just a network of traders independently dealing with each other 24 hours a day. OTC is generally meant to refer to professional/corporate entities trading 400oz gold bars (and 1000oz silver bars), usually for settlement in London. However, when you buy a coin from
Saturday, April 14, 2018
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.
Wednesday, April 4, 2018