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Economics

Why Keynesian Economists Don’t Understand Inflation

The “monetary cranks” and “ignorant zealots” of old are back preaching salvation if only we had more inflation.[1] Keneth Roggoff and Fed President Charles Evans did not mince words, while others have been more circumspect. Christine Lagarde warns us of the “ogre of deflation” and the “risks” of low ...

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How Minimum Wage Laws Increase Poverty

How Minimum Wage Laws Increase Poverty

An Open letter to Thomas Perez, U.S. Secretary of Labor Dear Secretary Perez:

Raising the minimum wage is a formula for causing unemployment among the least-skilled members of society. The higher wages are, the higher costs of production are. The higher costs of production are, the higher prices ...

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Reads: 2187

The Federal Reserve has No Integrity

The Federal Reserve has No Integrity

As we documented in previous articles, the gold price is driven down in the paper futures market by naked short selling by the Fed's dependent bullion banks. Some people have a hard time accepting this fact even though it is known that the big banks have manipulated the LIBOR (London Interbank ...

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Reads: 2147

Privatize Outer Space!

Privatize Outer Space!

“The Planetary Society” is trying to whip up public action in the United States to pressure the federal government to restore spending programs for NASA. The website tells the reader, “For decades, Jupiter’s moon Europa has cried out for exploration. Its large ocean may be one of the most habitable ...

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Reads: 2414

IRS Says Bitcoin to Be Taxed As Gains; New Rule is Retroactive

IRS Says Bitcoin to Be Taxed As Gains; New Rule is Retroactive

Since Bitcoin’s introduction in 2009, the IRS has left users in the dark about the tax liability of their assets. On Tuesday, the IRS clarified its position on the tax status of virtual currencies, and it’s official: Bitcoin is property and not currency, at least as far as the U.S. government is ...

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Reads: 2298

Draconian Dodd-Frank Durbin Debit Controls Need Not Be More Destructive, Court Rules

Draconian Dodd-Frank Durbin Debit Controls Need Not Be More Destructive, Court Rules

As the weather finally turns to spring, the D.C. Circuit Court of Appeals today blew a nice cool breeze of common sense.

A bipartisan three-judge panel unanimously overturned district Judge Richard Leon’s July 31 ruling that the Federal Reserve had not made the price controls stemming from ...

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Reads: 2416

The Golden Bull, Failing Fiat and the Foundering of the Central Bank Economy

Introduction: Andrew ("Andy") Hoffman, CFA joined Miles Franklin, one of America's oldest, largest bullion dealers, as Media Director in October 2011. For a decade, he was a US-based buy-side and sell-side analyst, most notably as an II-ranked oil service analyst at Salomon Smith Barney from 1999 ...

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Reads: 2555

Lift Restrictions on Natural Gas Exports to NATO Allies in the Baltics

Lift Restrictions on Natural Gas Exports to NATO Allies in the Baltics

The United States has been experiencing a boom in energy production in recent years, most notably natural gas production. This energy boom should allow for a strong export market for American liquefied natural gas (LNG) to hungry markets abroad. However, legal and regulatory hurdles make it ...

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Reads: 2630

Bitcoin Banking and Deposit Security

Bitcoin Banking and Deposit Security

A currency is only as safe as the bank that stores it. Nowhere is this more apparent than in the recent turmoil in the bitcoin community.

One the primary advantages of bitcoin, perhaps even the greatest advantage of the cryptocurrency, is the ability to do away with traditional banking ...

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Reads: 2635

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