The most important priority right now is dramatic monetary reform. … People should be free to use any money they can get each other to accept. More than that, people should be free to introduce new moneys based on gold or silver or any other commodity, and develop payment systems […]
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Telegraph: So much for tirades against American greed
Ambrose Evans-Pritchard on the prospects for the European Union as the crisis develops: The euro fathers did not dispute that the euro might not survive a crisis, but they saw EMU as an instrument to force the pace of political union. They welcomed the idea of a “beneficial crisis”. As […]
Read MoreMoney: Its Importance, Origins, and Operations
A classic book we should all read: it’s next on my list. So prices, overall, can change for only two reasons: If the supply of money increases, prices will rise; if the supply falls, prices will fall. If the demand for money increases, prices will fall (PPM rises); if the […]
Read MoreFT.com: Banks fall despite short-selling ban
The FT reports* on the continuing sale of financial firms’ securities: A recent ban on short selling failed to halt the sell-off in the financial services sector in London on Tuesday as doubts about the effectiveness of a proposed $700bn US government rescue plan grew. Details of the plans for […]
Read MoreLew Rockwell: “Understanding the Crisis” and “The Crisis Book Kit”
Lew Rockwell introduces the surprising simplicity, fascination and usefulness of a study of money, and points to mises.org’s
Read MoreMises.org: “Has Capitalism Failed?”
Reflecting on the demise of Lehman Brothers and on Bank of America’s purchase of Merrill Lynch, I revisited an article by recent US presidential candidate Ron Paul, posted on mises.org: Capitalism should not be condemned, since we haven’t had capitalism. A system of capitalism presumes sound money, not fiat money […]
Read MoreContinuing a study of money
In continuing my sometimes-reported study of money, I have been reading Milton Friedman’s “Capitalism and Freedom”. After dismissing a thoroughly automatic commodity standard, chiefly on the grounds of practicality, Friedman moves on. Reviewing the establishment and effects of the Federal Reserve System, he writes: No sooner was the [Federal Reserve] […]
Read MoreSupport for euro in doubt as Germans reject Latin bloc notes
Apparently: Many have kept a stash of D-Marks hidden in mattresses to this day. A recent IPOS poll showed that 59pc of Germany now had serious doubts about the euro. So now the Germans do not have confidence in their currency? Not something to celebrate: a sensible fix for Europe […]
Read MoreTelegraph: “We will foot the bill for banks’ excesses”
Is it time for ordinary people to ask how the world’s system of money works? Consider the words of Wright Patman, a US democratic congressman and Chairman of the Committee on Banking and Currency, 1963-1975: I have never yet had anyone who could, through the use of logic and reason, […]
Read More“Challenge to America”
From “Challenge to America: A Current Assessment of Our Republic” by Ron Paul: Third Way compromise, or bipartisan cooperation, can never reconcile the differences between those who produce and those who live off others. It will only make it worse. Theft is theft, and forced redistribution of wealth is just […]
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