Archive for May, 2011

Inflation Goggles.

Inflation Goggles.
What is the true cost of inflation?  It causes so many problems and distortions that it is almost impossible to pin down.  The most obvious part of the cost is seen in the form of price inflation.  The general understanding is something like this: if a certain “basket of goods” would have cost...
May 31st, 2011 | Commentary, Scholars' Corner | Read More

“The State and 100 Percent Reserve Banking” – Selgin

“The State and 100 Percent Reserve Banking” – Selgin
“Free bankers have been fighting a war on two fronts. On one they face champions of central banking and managed money. On the other they struggle against advocates of 100-percent reserve banking. Although the second front is a lot smaller than the first, it’s far from being unimportant, in part...
May 31st, 2011 | Blogs, History of Money | Read More

“A Note on the Machiavellian Origins of Central Banking in America” – QJAE

“A Note on the Machiavellian Origins of Central Banking in America” – QJAE
“In The Mystery of Banking, Murray Rothbard explained how the origins of central banking in the U.S. were rooted in a lobbying effort by Robert Morris and other “nationalists” to create a bank modeled after the Bank of England that would subsidize their businesses with cheap credit and other...
May 31st, 2011 | History of Money, Journal Articles | Read More

“Defense Spending No Longer ‘Sacred Cow’ to Republicans Searching for Cuts” – Bloomberg

“Defense Spending No Longer ‘Sacred Cow’ to Republicans Searching for Cuts” – Bloomberg
“As the House Budget Committee worked on a Republican plan to cut more than $6 trillion of government spending over a decade, the panel’s senior Democrat proposed a symbolic amendment saying national security costs should be included in any responsible deficit-reduction effort. Seventeen of 22...
May 31st, 2011 | Future of Money, Popular Articles, State of Money | Read More

“Barney Frank’s Latest Bad Idea” – WSJ

“Barney Frank’s Latest Bad Idea” – WSJ
“Mr. Frank’s bill is simple and remarkably short by Washington standards: two pages. It would strike the language in Section 12A of the Federal Reserve Act that provides for voting membership by the New York Fed and rotating voting membership by the other 11 Federal Reserve banks on the Federal...
May 31st, 2011 | Future of Money, Popular Articles | Read More