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Property does not exist because there are laws, but laws exist because there is property.
Frédéric Bastiat  
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In the last 24 hours
Investing Chronicles - Scribd
  Reminiscences of a Stock Operator (Jesse Livermore)
I WENT to work when I was just out of grammar school. I got a job as quotation-board boy in a stock-brokerage office
Wednesday, April 23, 2014
More than 24 hours ago
A Poem for Today - E. Mason
The Gold Dollar
Ah, little gold dollar, republican name, Let peace be thy motto, and freedom thy fame; may all use thee kindly and not hide thy face Like misers and bankers in some lonely place,
Sunday, April 20, 2014
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.
Sunday, April 20, 2014
Antal E. Fekete - Gold University
The Significance of the Gold Standard
Of all institutions the gold standard occupies a paramount position as an instrumentality of human freedom, private property, private enterprise, and responsible government. The nature of the gold standard should reveal something as to why it is a necessary and natural companion of human freedom. After specifying the standard gold coin and opening the Mint to its free and un-limited coinage on private account,
Friday, April 18, 2014
Food For Thought
George Orwell : If you want a picture of the future, imagine a boot stamping on a human face
…For ever. Don’t let it happen. It depends on you.
Friday, April 18, 2014
Lysander Spooner -
No Treason, no. 1 
The question of treason is distinct from that of slavery, and it is the same that it would have been if free states, instead of slave states, had seceded. On the part of the North, the war was carried on not to liberate the slaves, but by a government that had always perverted and violated the Constitution to keep the slaves in bondage, and was still willing to do so if the slaveholders could be thereby induced to stay in the Union. The principle on which the war was waged by the North was simpl
Monday, April 07, 2014
Confiscation issue - Charleston Voice
April 5, 1933 : FDR, the Great Confiscator 
It's hard to imagine a greater theft from the American people than their personal gold savings. This stolen gold was then exchanged to foreign bankers for irredeemable paper dollars. The continuing thievery by the Federal Reserve of American's productivity by debt and inflation continues unabated to impoverish and enslave us.
Saturday, April 05, 2014
Antal E. Fekete - Gold University
Gold, Interest, Basis
Gold, interest, and basis are strongly inter-related. At the Inaugural Session we have covered the concept of marketability. Gold and silver have become money through an evolution as the most marketable goods. In more details, gold is most marketable in the large. This can also expressed by saying that gold is more saleable than any other commodity. Silver is most marketable in the small. This can also be expressed by saying that silver, along with gold, is more hoardable than any other commodity. The Janus-face of marketability can be observed if we contemplate that gold is the preferred agent when one has to transfer value over space. The preferred agent in transferring value over time is silver followed by gold. We may clearly recognize the dual nature of money throughout history. In the ancient world money was cattle and salt. Cattle was most marketable in the large, while salt was most marketable in the small. Later two other commodities, far more similar to one another, took over these functions, but the dual nature of money has been maintained to this day, in spite of the silver and gold demonetization farce. This is no accident. Duality has to do
Saturday, March 29, 2014
Gustave de Molinari
On « Ulcerous government”
By the very fact of their anti-economic constitution, governments have become the ulcers of societies (“les ulcères des sociétés”), to use the strong expression coined by J.B. Say. As population and wealth increase, thanks to the progressive development [531] of competitive industries, a growing mass of vital energy is sucked out of society by the suction pump which are taxes and debts, in order to subsidise the costs of production of public services, or to put it in a better way, to subsidise the support and easy enrichment of the particular class which controls the monopoly of the production of these services.
Friday, March 28, 2014
Antal E. Fekete - Gold University
Paper Tiger Preying on Gold Bugs – The IMF and its phantom Gold Sales 
The International Monetary Fund (IMF) was set up in 1944 by the victorious allied powers at Bretton Woods, N.H. It was designed to serve as the linchpin of the post World War II international monetary system based on fixed exchange rates. It was well-understood that there could be no fixed exchange rate system without a gold anchor. Thus gold was retained as a bedrock, but multiple credit expansion was permitted, even encouraged. The U.S. dollar was to be treated as equivalent of gold. This meant that gold was double-counted in the system. Member countries were called upon to subscribe their quota of IMF capital in gold, called the first tranche, which set the limit of each member's line of credit with the IMF called drawing rights. A second tranche was also available to members in good standing in case of emergency (read: in case of a run on the central bank).
Friday, March 21, 2014
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 17, 2014
Antal E. Fekete - Gold University
Whither Gold?
The year 1971 was a milestone in the history of money and credit. Previously, in theworld's most developed countries, money (and hence credit) was tied to a positive value:the value of a well-defined quantity of a good of well-defined quality. In 1971 this tiewas cut. Ever since, money has been tied not to positive but to negative values – the value of debt instruments.
Saturday, March 08, 2014
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
Saturday, February 22, 2014
Mike Hewitt - Dollar Daze
Why Study Economics? 
I place economy among the first and most important virtues and public debt among the greatest of dangers; we must make our choice between economy and liberty; or profusion and servitude. If we can prevent the government from wasting the labors of the people under the pretense of caring for them, they will be happy." (Thomas Jefferson) In his statement, Jefferson used
Monday, February 17, 2014
Antal E. Fekete - Gold University
Quartermasters of Inflation
hat central bankers are the quartermasters of inflation is no longer a controversial assertion. That much was admitted by central banker Alan Greenspan in his speech before the Economic Club of New York on December 19, 2002 (see: He observed that as long as the gold standard was in charge of money-creation the price level was relatively stable. For example, in 1929 it was hardly different from that in 1800. But, after gold was banned and central bankers were put in charge in 1933, the consumer price index nearly doubled in two decades. And in the four decades after that prices quintupled. In other words, under the watch of the gold standard the dollar preserved its p
Saturday, February 15, 2014
Antal E. Fekete - Gold University
  How to stop the Depression 
Capital erosion is not natural nor is it inevitable. Rather, it has been inflicted upon the world economy by the unmindful and irresponsible monetary policy of the United States in deliberately driving the rate of interest to zero.
Saturday, February 08, 2014
Antal E. Fekete - Gold University
  The Double Whammy of Geopolitical Gold Games 
Even the most rabid silver bugs admit the possibility that the Chinese are the Big Silver Shorts. This suggests that the Big Gold Shorts are also governments. Neither are naked by any stretch of the imagination. The double whammy of gold and silver accumulation by unnamed governments is the big puzzle of the present financial crisis in the world as it holds the key to the resolution.
Tuesday, February 04, 2014
Antal E. Fekete - Gold University
Fiat Currency : Destroyer of Labor
Labor vitally depends on the state of industrial capital. Wage rates cannot increase except in consequence of an increase in the per capita quota of invested capital. Conversely, a decrease in that quota means capital decumulation that lowers wage rates, ultimately leading to unemployment.
Saturday, January 18, 2014