The Benefits of Issuing Gold Bonds
A gold bond is debt obligation that is denominated in gold, with interest and principal paid in gold. As I will explain below, it’s…
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The Heat Death of the Economic Universe
Physicists say that the universe is expanding. However, they hotly debate (pun intended) if the rate of expansion is sufficient to overcome gravity—called escape…
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Wealth-Destroying Zombies
The hot topic in monetary economics today (hah, if it’s not an oxymoron to say these terms together!) is whither interest rates. The Fed…
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The Fed Rate Hike and Gold
The Fed Rate Hike and Gold, Report 18 June, 2017 The big news this week comes from the Fed, which announced two things….
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Will Gold or Silver Pay the Higher Interest Rate?
This question is no longer moot. As the world moves inexorably towards the use of metallic money, interest on gold and silver will return…
Read MoreBring Back the Gold Gilt
This essay was submitted to the Richard Koch Breakthrough Prize for 2017. Executive Summary Our monetary system imposes a form of central planning, based…
Read MoreAbout that Economic Inequality
I address this essay to two groups. One group is those among the liberty movement, who believe that there’s nothing wrong with inequality. These…
Read MoreIntroducing Yield Purchasing Power
The monetary debate seems artificially limited. On one side is Federal Reserve policy based on discretion. On the other is policy based on rules….
Read MoreArizona Considers Issuing a Gold Bond
The Arizona House of Representatives has convened an Ad Hoc Committee on Gold Bonds. The purpose is to explore if and how the state…
Read MoreReal vs. Nominal Interest Rates
What is the real interest rate? It is the nominal rate minus the inflation rate. This is a problematic idea. Let’s drill deeper into…
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