There was a beautiful symmetry to last week’s policy announcement by the Fed. Precisely a week after the ECB had pledged its commitment to unlimited purchases of Euro Zone government bonds, the Fed declared that its new round of debt monetization – ‘quantitative easing’ or QE3 – would be open-ended. […]
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Republicans eye return to gold standard – FT.com
After much that I have said, written and done, this gives me some satisfaction: The gold standard has returned to mainstream US politics for the first time in 30 years, with a “gold commission” set to become part of official Republican party policy. via Republicans eye return to gold standard […]
Read MoreRevealed: why Gordon Brown sold Britain’s gold at a knock-down price – Telegraph Blogs
Faced with the prospect of a global collapse in the banking system, the Chancellor took the decision to bail out the banks by dumping Britain’s gold, forcing the price down and allowing the banks to buy back gold at a profit, thus meeting their borrowing obligations. via Revealed: why Gordon […]
Read MoreThe triumph of politics » The Cobden Centre
At The Cobden Centre, Detlev Schlichter explains that, The biggest threat to your property and to your individual liberty does not come from markets and not even from the bankers. It comes from politics. I feel sure he is right. We’ve had decades of excessive political promises paid for by high […]
Read MoreGold – an independent money?
Occasionally, someone will describe me as “a gold bug”. I shouldn’t be surprised. My usual answer when someone asks me why I always have an ounce of silver in my pocket is, “I can’t afford to lose an ounce of gold.” The truth is that the debate over commodity-backed money […]
Read MoreLow rates and the damage they are doing to the economy and society
Via Another “Operation Twist” will cause more damage to the economy » The Cobden Centre, Frank Shostak explains the damage that will be done by further credit market interventions: Last week the US central bank has announced that it will expand its “Operation Twist” program to extend the maturities of […]
Read MoreGold Wars, Ferdinand Lips
In Gold Wars, Swiss banker Ferdinand Lips sets out the case that gold and freedom are inseparable. Over 254 pages, he shows how governments fight against gold, a vital restraint on their spending and therefore interventions in the lives of free people. It’s a case which ex-Federal Reserve Chairman Alan […]
Read MoreThe CPS demonstrates smaller government is better for society
Via the CPS, a report and video, explaining that small (though not that small) government is better for society: Tim Knox, Director of the Centre for Policy Studies, commented: This paper shows that smaller government results in higher growth – making a mockery of the current austerity vs. growth division. […]
Read MoreDocumentary on the financial crisis: The End of the Road
I have just watched a fascinating documentary about the financial crisis by Austrian School thinkers including Peter Schiff, author of the superb book How an Economy Grows and Why It Crashes: Two Tales of the Economy: The End of the Road. It was interesting and easy to follow. It was […]
Read MoreWilliam Hague: “There’s only one growth strategy: work hard,” but hard work needs honest money.
In today’s Telegraph, William Hague tells the Government’s business critics to stop complaining and work hard to deliver jobs. However, Mr Hague forgets that a day’s hard work is rewarded with a day’s pay: if that pay is in a money which someone else is producing at near zero cost, the […]
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