Economics
A Look Back: Nixon Ends Bretton Woods International Monetary System
Written by Richard Nixon
On August 15, 1971, President Nixonannounced on TV 3 dramatic changes in economic policy. He imposed a wage-price freeze. He ended the Bretton Woods international monetary system. And he imposed a temporary surcharge (tariff) on all imports. The Bretton Woods system was created towards the end ... Read more: A Look Back: Nixon Ends Bretton Woods International Monetary System
Reads: 741
Fiat Money and the British Riots
Written by Andy Duncan
This is going to be tricky to do from a hillside in Cornwall, with a flaky mobile connection and an iPad with a one-letter-at-a-time keyboard. However, it's pouring down with rain this August morning, so let's examine the real sickness at the heart of British society, which is the ...
Reads: 751
Lew Rockwell: Death of the Dollar
Written by Russia Today
40 years ago today former President Nixon was fighting inflation and overwhelming war costs and with that he ended the last remnants of the gold standard. At that time Nixon claimed he was defending the dollar but his critics said it was one of the most damaging decisions in modern economic ...
Reads: 955
Out, Out Damn Depression: FDR in 1938
Written by John T. Flynn
Ludwig Von Mises Institute: The dark realities of the country had sunk deeply into Roosevelt's mind now. There were just a year and six months before a Democratic convention would meet to pick his successor. All that gaudy edifice of recovery of which he was the bemedaled architect was crumbling ...
Reads: 903
Nine-Year-Old Discusses Monetary Inflation and What Is Wrong with US Foreign Policy
Written by Anthony Wile
The Daily Bell is pleased to present this exclusive interview with a nine-year-old boy named Jesse.
Introduction: Jesse is a typical young boy who enjoys exploring ideas and concepts. He is an average student, who tends to enjoy recess more than doing classroom work. His teachers often say that ... Read more: Nine-Year-Old Discusses Monetary Inflation and What Is Wrong with US Foreign Policy
Reads: 662
Debt Reduction Delusions and the Menace of Big Government
Written by Richard Ebeling
In spite of the rhetoric in the media about a national debt crisis having been averted through a rise in the government's debt limit on Tuesday, August 2nd, the fact is the United States remains very much in the midst of a fiscal disaster.
The Congress has approved and the president has signed a ... Read more: Debt Reduction Delusions and the Menace of Big Government
Reads: 793
Debt Ceiling Agreement to Trigger Hyperinflation
Written by NIA
Important Debt Ceiling Update
President Obama just announced late this evening that a deal has been reached to cut government spending and raise the debt ceiling in order to avoid a debt default. If the deal is approved on Monday, it will raise the debt ceiling by between $2.1 and $2.4 trillion in ...
Reads: 2550
The Man With No Plan: The Fuse on America's Debt Bomb Just Keeps Getting Shorter
Written by The Daily Bell
With the health of the fragile economy hanging in the balance and financial markets watching closely, the leaders said they would present the compromise to their caucuses on Monday in hopes of enacting it before a Tuesday deadline to avert default. ... The tentative agreement calls for at least ... Read more: The Man With No Plan: The Fuse on America's Debt Bomb Just Keeps Getting Shorter
Reads: 657
Forget Compromise: The Debt Ceiling Is Unconstitutional
Written by Ellen Brown
The debt ceiling crisis can be averted by enforcing the Fourteenth Amendment, which mandates the government to pay its debts already incurred, including pensions. That means Social Security, which IS an “entitlement,” in the original sense of the word. We’re entitled to it because we’ve paid for ... Read more: Forget Compromise: The Debt Ceiling Is Unconstitutional
Reads: 641
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