Articles related to Money Supply
 
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
Thursday, April 5, 2018
Douglas French - Mises.org
Gold and Guns 
In his extraordinary book Democracy: The God that Failed, Hans Hermann Hoppe points out that the process of civilization is stopped when government continually violates property rights. The natural process of civilization comes through delaying consumption, saving, and building capital. Undoing it leads to higher societal time preference.
Tuesday, April 3, 2018
Adrian Ash - Bullion Vault
Inflation and human nature
"...Scrabbling in the earth for a fresh source of cash, the gold & silver miners of 13th century Europe proved that the money supply never simply increases as if by magic..."
Thursday, March 29, 2018
Nathan Lewis - New World Economics
The Bank of England 1720-1844
we have now a bit of updating of something we looked at before: the Bank of England's balance sheet during the 18th and 19th centuries, when it was the premier institution managing a gold standard paper money system in the world. The Bank of England eventually served as the example imitated throughout the world, particularly in the latter 19th century and into the early 20th century. January
Wednesday, March 28, 2018
George F. Smith - Barbarous Relic
Gary North on central banking, gold, federal debt, and Keynesianism
I have never met Gary North and probably never will.Yet, through his writings he has had a far-reaching influence on my thinking, especially with regard to government and economics.He runs a membership website, GaryNorth.com.For $14.95 a month you get access to everything on the site, including four daily articles that he writes six days a week and posts while most people are still asleep.Members can ask questions in the forums to which he and other members will post replies. North wrote what
Tuesday, March 13, 2018
Egon von Greyerz - Matterhorn AM
CENTRAL BANKERS NEVER GET IT RIGHT
Central bank heads have been at it again last week. And they have clearly all been singing from the same hymn sheet. The messages have been very similar from the bosses of the Fed, ECB and BOJ. The head of the Swedish Riksbank had a different and much more interesting message. More about that later. Why should we ever listen to any of these self-important central bankers. They are consistently inaccurate in their forecasts and policies. Their timing is always wrong as they are always behind the
Friday, March 9, 2018
Andy Hoffman - Miles Franklin
Is Gold Worth More Or Less Than Its $1900 High In 2011
One of the challenges with investing in precious metals is that there is so much distortion in the market that figuring out a true fair value is not always the easiest thing to do. Yet there are clues investors can look at that indicate that when the price starts to move, it won’t be by a small amount. Back in 2011 I was still working as an equity options trader on the New York Stock Exchange, and was about two years into my studies of the precious metals market. Following the collapse of the su
Friday, March 9, 2018
BullionStar - Bullion Star
Why QE didn’t send gold up to $20,000
This blog post is a guest post on BullionStar's Blog by the renowned blogger JP Koning who will be writing about monetary economics, central banking and gold. BullionStar does not endorse or oppose the opinions presented but encourage a healthy debate.  Why didn't quantitative easing, which created trillions of dollars of new money, lead to a massive spike in the gold price? 100 Trillion Dollar Notes are not yet required to purchase gold. Why hasn't the increased money supply significantly incre
Tuesday, March 6, 2018
Thorsten Polleit
The Fateful Wish for Price Stability
[Originally published February 2007.]It is hard to think of a slogan that nurtures anti–free market sentiment as strongly as the term "stabilization policy." To Ludwig von Mises, stabilization policy was a direct consequence of the failure of government's interventionism in the field of monetary affairs:Shortcomings in the governments' handling of monetary matters and the disastrous consequences of policies aimed at lowering the rate of interest and at encouraging business activities through cre
Thursday, March 1, 2018
Frank Shostak
Will the Data Tell Us When the Next Bust Is Due
Most economists are of the view that by means of economic indicators it is possible to identify early warning signs regarding an upcoming recession or prosperity. What is the rationale behind this approach?The National Bureau of Economic Research introduced the economic indicators approach in the 1930’s. A research team led by W.C. Mitchell and Arthur F. Burns studied about 487 economic data to ascertain the mystery of the business cycle. According to Mitchell and Burns,Business cycles are a typ
Tuesday, February 27, 2018
Frank Shostak
Is Money Creation Fueling the Stock Market Surge
Is it true that changes in money supply are an important driving force behind changes in the stock price indexes?Intuitively it makes sense to argue that an increase in the growth rate of money supply should strengthen the growth rate in stock prices.Conversely, a fall in the growth rate of money supply should slow down the growth momentum of stock prices. Some economists who follow the footsteps of the post-Keynesian (PK) school of economics have questioned the importance of money in driving st
Wednesday, February 21, 2018
Andy Hoffman - Miles Franklin
The Right Question…
Last week I mentioned that my grandson Josh (Andy’s boy) was accepted at McGill University in Montreal, the University of Indiana’s business school and the University of Michigan.  He is interested in pursuing a degree in business and is taking all the requisite (advanced) classes in economics. He called me yesterday and asked me, “Which Fed Policy would be better, Quantitative Easing or Tapering and what can be done to make things better?”  Geese Louise!  When I was his age the only question I
Wednesday, February 14, 2018
Frank Shostak
Should We Use Probability in Economics
Modern economics in addition to sophisticated mathematics also employs probability distributions. What is probability? The probability of an event is the proportion of times the event happens out of a large number of trials.For instance, the probability of obtaining heads when a coin is tossed is 0.5. This does not mean that when a coin is tossed 10 times, five heads are always obtained.However, if the experiment is repeated a large number of times then it is likely that 50% will be obtained. Th
Wednesday, February 14, 2018
Keith Weiner - Monetary Metals
Take It To The Bank: Interest Rates Won’t Rise
How Not to Predict Interest Rates We continue our hiatus from capital destruction to look further at interest rates. Last week, our Report was almost prescient. We said: The first thing we must say about this is that people should pick one: (A) rising stock market or (B) rising interest rates. They both cannot be true (though we could have falling rates and falling stocks). We write these Reports over the weekend. At the time of last week’s writing session, Friday’s close on the S&P was 2757 (fu
Monday, February 12, 2018
Phoenix Capital - Gains Pains & Capital
The West Will Become The New ‘Third World’: PricewaterhouseCoopers
Hold your real assets outside of the banking system in one of many private international facilities  -->    https://www.sprottmoney.com/intlstorage  The West Will Become The New ‘Third World’: PricewaterhouseCoopers Written by Jeff Nielson (CLICK HERE FOR ORIGINAL) First World The term “First World” refers to so called developed, capitalist, industrial countries, roughly, a bloc of countries aligned with the United States after word war II, with more or less common political and economi
Monday, February 12, 2018
Alasdair Macleod - Finance and Eco.
When will the next credit crisis occur
The timing of any credit crisis is set by the rate at which the credit cycle progresses. People don’t think in terms of the credit cycle, wrongly believing it is a business cycle. The distinction is important, because a business cycle by its name suggests it emanates from business. In other words, the cycle of growth and recessions is due to instability in the private sector and this is generally believed by state planners and central bankers.This is untrue, because cycles of business activity h
Sunday, February 11, 2018
Philip Judge - Anglo Far East
Inflation And Alan Greenspan 
Alan Greenspan 1967 "As the supply of money increases relative to the supply of tangible assets in the economy, prices must eventually rise. In the absence of the gold standard, there is no way to protect savings from confiscation through inflation. There is no safe store of value". Alan Greenspan 1981 "A return to a gold standard (would be) a basic change in our economic processes. A gold-based monetary system will necessarily prevent fiscal imprudence. Once achieved, the discipline of the gold standard would surely reinforce anti-inflation policies, and make it far more difficult to resume financial profligacy".
Saturday, February 10, 2018
Jason Hamlin - Gold Stock Bull
CFTC / SEC Hearing on Cryptocurrencies Mostly Bullish
I wasn’t expecting that much open-mindedness from a government institution. The Committee on Banking Housing and Urban Affairs met this morning to conduct a hearing entitled, Virtual Currencies: The Oversight Role of the U.S. Securities and Exchange Commission and the U.S. Commodity Futures Trading Commission. The witnesses were Jay Clayton, Chairman of the U.S. Securities and Exchange Commission (SEC); and Christopher Giancarlo, Chairman, U.S. Commodity Futures Trading Commission (CFTC). The co
Wednesday, February 7, 2018
Nathan Lewis - New World Economics
The “Money Supply” with a Gold Standard 
Usually you hear a couple things about the "money supply" with a gold standard. The first thing you hear is that it is determined by gold mining. The second thing you hear is that it is limited to the amount of gold held "in reserve," whatever that means. Sometimes you hear that it is determined by the "current account balance." All of this is bunk.
Saturday, February 3, 2018
Nathan Lewis - New World Economics
The “Money Supply” with a Gold Standard 2 : 1880 - 1970 
The United States, from 1789 to 1860, had a libertarian "free banking" system. Anyone could issue currency, but it had to be pegged to gold. This "gold peg" was a value peg
Friday, February 2, 2018
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