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Book review: Ouch! Ignorance is bliss, except when it hurts…


Once I saw George Selgin referenced on page 7, the paper dollar criticised on page 8 and a Zim$100 trillion note on page 12, I knew I would enjoy Ouch!: Ignorance is Bliss, Except when It Hurts- What You Don’t Know About Money and Why It Matters (More Than You Think). It’s a wonderful read. From the jacket: We live in a world dominated by a system that most of us aren’t aware of, never mind understand. When it comes […]

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Free, zooming presentations with Prezi – How Government created the crisis by debasing money


I have many times presented the argument that for forty years politicians’ promises in excess of what they could take in tax were paid for by debasing the currency to avoid an explosion of debt. Here’s a typical PDF generated from Keynote, Apple’s (superior) competitor to PowerPoint. Then I was introduced to Prezi. Instead of a series of animated slides, Prezi uses a zooming user interface over a canvas. Here’s my first attempt to convey the big economic story of the […]

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Taxes, currency debasement and the OFT report on pump prices


Via the Office of Fair Trading, Rises in pump prices for petrol and diesel over the last 10 years have been caused largely by higher crude oil prices and increases in tax and duty and not a lack of competition, an OFT report has found. and, emphasis mine, The OFT found that, pre-tax, the UK has some of the cheapest road fuel prices in Europe. In the 10 years between 2003 and 2012 pump prices increased from 76 pence per […]

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A confession from the Governor?


In his Cardiff speech last night, Sir Mervyn King admitted the Bank of England’s short term policies “appear diametrically opposed to those needed in the long term.”Sir Mervyn still believes that ulta-low interest rates have prevented the recession becoming a depression. However he confessed that such low interest rates prevent bad investments from the boom years unwinding and prop up failing firms surviving on cheap credit, thus postponing the recovery. I could point out that I have been saying this for years. Although that […]

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LearnLiberty.org: Should we End the Fed?


Another excellent video from LearnLiberty.org, in which Lawrence White concludes it would be dangerous to leave the control of money with the same institutions which caused the present crisis, hoping they will do better in future: What would it mean to “End the Fed?” Free banking expert and professor Lawrence White begins his answer by explaining the functions of the central bank of the United States, also known as the Federal Reserve or just “the Fed.” As the hub of […]

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