Should we have a hard dollar, backed by gold?

Summary: We'll hear much from Republicans during Campaign 2016 about the glories of a gold-backed currency. Today's post debunks that with history from 19th Century Britain, when both men and money were hard.   {1st of 2 posts today} "Accursed thirst for gold! what dost thou not compel mortals to do?" --- Virgil's Æneid (29-19 BC). … Continue reading Should we have a hard dollar, backed by gold?

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Let’s ignore another warning from the BIS. Do we enjoy paying for burst bubbles?

Summary: As one market after another drifts off into bubble valuations, a few institutions warn of the consequences. As usual (we've done this so many times), we ignore them -- our passivity and ignorance earning our role as the deep pockets paying for the resulting damage. This post looks at a few of the warnings … Continue reading Let’s ignore another warning from the BIS. Do we enjoy paying for burst bubbles?

Why the libertarian rich & their bankers love price controls – on money.

Summary: Marx believed that the inherent contradictions in capitalism would bring about its downfall. Events since the crash have revealed contradictions between the values and actions of the 1% and their bankers. But they've successfully managed these contradictions. That's the operational genius of the pseudo-philosophy called libertarianism.  {1st of 2 posts today.} The price system … Continue reading Why the libertarian rich & their bankers love price controls – on money.