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 | 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 whatWednesday, February 17, 2021 |
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 | 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 ChinaSaturday, February 6, 2021 |
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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.Thursday, February 4, 2021 |
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 | Robert Blumen |
| What Is Key for the Price Formation of Gold |
| Robert Blumen discusses some important but widely misunderstood elements acting on the gold price. He explains that frequently cited gold demand statistics have no relationship to the gold price. In addition, he explains that the annual gold mine production is of very little influence, as gold is hoarded, not consumed like other commodities.
Robert Blumen was born in 1964 and grWednesday, January 27, 2021 |
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 | Alasdair Macleod - Finance and Eco. |
| The origin of cycles |
| It was Karl Marx who was among the first believers that cyclical behaviour was endemic to free markets.He lived through a time when there was a regular cycle of boom and bust, with phases of economic expansion followed by contraction. Workers were employed and then unemployed, and the only way this could be stopped, in Marxian economics, was for the workers to acquire the means of production, or more correctly, the state to do so on their behalf.Other economists, such as Jevons and Wicksell, recSunday, January 24, 2021 |
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| George F. Smith - Barbarous Relic |
 Fielding my grandson’s questions about gold and banking |
| My grandson had quite a day at school.He had learned that the economy had been suffering from things called Panics, capital P, during the 19th century and had another big one in the early 20th century.He had been told that responsible, public-spirited men like J. P. Morgan had organized a central bank to prevent those Panics.He and other bankers finally got the government to go along with their idea and pass it into law in late 1913.And wouldn’t you know it — we’ve had no more Panics since then.Thursday, December 24, 2020 |
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 | Thorsten Polleit |
| November 15, 1923: The End of German Hyperinflation |
| On 15 November 1923 decisive steps were taken to end the nightmare of hyperinflation in the Weimar Republic: TheReichsbank, the German central bank, stopped monetizing government debt, and a new means of exchange, theRentenmark, was issued next to thePapermark (in German:Papiermark). These measures succeeded in halting hyperinflation, but the purchasing power of thePapermark was completely ruined.Sunday, November 22, 2020 |
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 | Frank Shostak |
| Inflation Is Not About Price Increases |
| There is almost complete unanimity among economists and various commentators that inflation is about general increases in the prices of goods and services. From this it is established that anything that contributes to price increases sets in motion inflation.A fall in unemployment or a rise in economic activity is seen as a potential inflationary trigger. Some other triggers, such as rises in commodity prices or workers’ wages, are also regarded as potential threats.If inflation is just a generaMonday, November 16, 2020 |
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| Frank Shostak |
 Why It's Important to Define Money Correctly |
| Most economists hold that, since the early 1980s, correlations between various definitions of money and national income have broken down. The reason for this breakdown, it is held, is that financial deregulation has made the demand for money unstable. As a result it is held the usefulness of money as a predictor of economic events has significantly diminished.To fix the instability of the demand for money, economists have introduced a gauge of the money supply known as the Divisia monetary indicSunday, November 15, 2020 |
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| Frank Shostak |
| There Are Two Types of Credit — One of Them Leads to Booms and Busts |
| In the slump of a cycle, businesses that were thriving begin to experience difficulties or go under. They do so not because of firm-specific entrepreneurial errors but rather in tandem with whole sectors of the economy. People who were wealthy yesterday have become poor today. Factories that were busy yesterday are shut down today, and workers are out of jobs.Businessmen themselves are confused as to why. They cannot make sense of why certain business practices that were profitable yesterday areSunday, November 1, 2020 |
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| Antal E. Fekete - Gold University |
The New Austrian School of Economics  |
| .Saturday, October 3, 2020 |
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| Antal E. Fekete - Gold University |
| The Hungarian Connection |
| Gold is the most misunderstood metal in human history, because of the economists' failure to distinguish between its dynamic and static aspects in representing values. Economists have blithely assumed all along that the value of gold is the same whether it flows freely from one hand to the next, or whether the movement of gold is obstructed, in the worst case arrested, by the government (soon to be aped by banks and individualsFriday, September 25, 2020 |
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| Alasdair Macleod - Finance and Eco. |
| The fiat money quantity (FMQ) |
| Summary : This paper seeks to establish a measure of currency quantity that helps economists identify and estimate the risk that confidence in fiat currencies might be significantly eroded or even vanish altogether. It is this phenomenon that was referred to in the great European currency inflations of the 1920s as Katastrophenhausse, or a crack-up boom, when ordinary people lose all confidence in a fiat currency, disposing of it as rapidly as possible instead preferring ownership of goods.This isThursday, September 17, 2020 |
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| Thorsten Polleit |
| The Fiasco of Fiat Money |
| I. Today's worldwide paper-, or "fiat-," money regime is an economically and socially destructive scheme — with far-reaching and seriously harmful economic and societal consequences, effects that extend beyond what most people would imagine.
Fiat money is inflationary; it benefits a few at the expense of many others; it causes boom-and-bust cycles; it leads tooverindebtedness; it corrupts society's morals; and it will ultimately end in a depression on a grand scale.Saturday, July 11, 2020 |
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 | Hugo Salinas Price - Plata.com |
 Copernicus, Galileo and Gold. Part II |
| The development of Economics and the development of Astronomy share interesting parallels.
Aristarchus of Samos – the Greek island that produced Pythagoras – was born in 310 B.C. Aristarchus set Astronomy on the path that would have led to its correct development by postulating the Sun as the center of the Universe, with the Earth revolving around the Sun while revolving around its own axis; he also set the planets in the correct order of their distance from the Sun.
Unfortunately, the preconceiThursday, June 11, 2020 |
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| Antal E. Fekete - Gold University |
| Economic Aspects of the Pension Problem: Part Two |
| .Tuesday, April 28, 2020 |
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 | FoFOA |
| 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 escapeFriday, April 17, 2020 |
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| History of Gold |
| April 2, 1792 : The US Coinage Act |
| The 1792 Coinage Act had an interesting provision under Section 19.
SEC. 19. And be it further enacted, That if any of the gold or silver coins which shall be struck or coined at the said mint shall be debased or made worse as to the proportion of fine gold or fine silver therein contained, or shall be of less weight or value than the same ought to be pursuant to the directions of this act, through the default or with the connivance of any of the officers or persons whoThursday, April 2, 2020 |
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| Alasdair Macleod - Finance and Eco. |
| The egregious errors of static statistics |
| The measure of a man's real character is what he would do if he knew he would never be found out. Lord Macaulay wrote this nearly two hundred years ago. His aphorism is particularly apposite of modern politicians, and also of the modern state itself, which is meant to be selfless in the interest of the common good. We can be certain that when a person moves from outside to inside the machinery of the state, he or she changes from representing the people to representing the state. Presumably therFriday, March 16, 2018 |
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 | Przemyslaw Radomski CFA - SunshineProfits |
| Are We in Late Cycle Implications for Gold |
| In the previous edition of the Market Overview, we explored the fascinating history of bull and bear cycles in both the U.S. dollar and gold. Since then, the idea of cyclicity doesn’t lead me to drop off, disrupting my sleep cycles. Let’s then dig into the topic. We start with the business cycles, as in the recent Gold News Monitor we wrote that “we are in the late stages of the economic cycle – as the cycle matures, volatility increases and investors start to buy more gold as a hedge.” Why do wSaturday, March 10, 2018 |
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