Archive for July, 2012

Does the Fed Really Monetize Government Debt?

Does the Fed Really Monetize Government Debt?
by George F. Smith If monetizing debt is understood to mean printing money to pay for government deficits, then the Fed is guilty. The basics are quite simple. The federal government issues and the Fed buys interest-bearing debt certificates. The Fed pays for these securities by creating digits on a...
July 31st, 2012 | Popular Articles, Resources | Read More

Priceless: How The Federal Reserve Bought The Economics Profession

Priceless: How The Federal Reserve Bought The Economics Profession
An oldie, but a goodie. From the huffingtonpost.com: The Federal Reserve, through its extensive network of consultants, visiting scholars, alumni and staff economists, so thoroughly dominates the field of economics that real criticism of the central bank has become a career liability for members of...
July 31st, 2012 | Popular Articles, Resources | Read More

Bubble Economics

Bubble Economics
 Works so nice, apparently we should try it twice. Then thrice… Dr. Paul Krugman is calling for another bubble, this time in Germany, to solve the problems of a previous bubble in the PIIGS nations (Portugal, Italy, Ireland, Greece, Spain) of southern Europe (or, hilariously, the “GIPSI”)....
July 30th, 2012 | Audio-Video, Commentary | Read More

Fool’s Gold at the Olympics

Fool’s Gold at the Olympics
by Butler Shaffer A news story (link added -ed.) informs us that a “gold” medal at the Olympics contains 1.34% gold.  It wasn’t always this way.  In 1912, the gold medal contained 100% gold.  In 1913 the Federal Reserve Act was enacted, and while there is no apparent causal connection...
July 30th, 2012 | Blogs, History of Money, Resources | Read More

The Golden Rule

The Golden Rule
Written by Jonathan Barnes James Grant, founder of Grant’s Interest Rate Observer, is a longtime advocate of the gold standard and critic of Central Bank monetary policy. In this interview with CFA Magazine, Grant speaks about the failures of the current monetary system, the practical...
July 27th, 2012 | Future of Money, Popular Articles, Resources | Read More