Bank balances and gold
byThere has been a growing shift in favour of assets relative to bank deposits. This was initially encouraged by zero interest rates, but more…
Economics
Gold is money not because it is scarce but because it is abundant
byThe Honorable Ron Paul says: Why is gold good money? Because it possesses all the monetary properties that the market demands: it is divisible,…
Is loose fiscal policy the missing ingredient for US economic recovery?
byIn his New York Times article of May 7, columnist Bruce Bartlett laments that given the current state of economic affairs we need more…
The tulip harvest is in!
by“When the cover of a major financial magazine features a cartoon of a bull leaping through the air on a pogo stick, it’s probably…
Monetisation on steroids
byBack in mid-March I made the latest of my somewhat rare specific, near-term market predictions, in this case that a US stock market correction…
New Laissez Faire Books release: Early Speculative Bubbles
byLaissez Faire Books have just released a splendid new edition of Doug French’s book, Early Speculative Bubbles, previously published by Mises.org. So how do I know this book…
Is present monetary policy rational?
byWhile the stance of monetary policy around the world has, on any conceivable measure, been extreme, by which I mean unprecedentedly accommodative, the question…
Playing with fire
byOnce again, the European press is trumpeting the triumph of the prodigals after a week in which both the Spanish and the French were…
Fed’s policy of price stability damages US economy
byAccording to a European Central Bank Governing Council member Ewald Nowotny, Federal Reserve Chairman Ben Bernanke sees no risk to inflation in the United…
Still stuck in the Middle Ages
by“We have Stone Age emotions. We have medieval institutions.. And we have god-like technology.” – Edward O. Wilson. The BBC reported last week that…