Columnists write glibly about the “cost-of-living crisis” as if it were an affliction visited upon our unsuspecting community and that, as usual, it is the duty of government to cure it. The fact that the [more…]
Thorsten Polleit’s recent essay, The Road to a Single Fiat World Currency, explains the dangers of the current trend in the West to eliminate cash and create a world fiat currency in the place of [more…]
Transfer of our capacity to manufacture goods and mine energy and resources to developing countries served to endorse our virtual assets as we established and dominated new markets with economic colonialism. Ludwig von Mises noted [more…]
FDR had abolished private ownership of gold money but retained gold as the underlying asset for U.S. currency, exchangeable one for the other. Variations in the price of U.S. currency in ounces of gold served [more…]
Every time I start this essay I find the political background has shifted so dramatically that I have to start again. Only Ollie’s complaint to Stan seems to be an apt constant: “another fine mess [more…]
This has been written so much better in thousands of articles on the web (including GP). Wasn’t going to write this one but have included it for completeness. Very short and to the many points. [more…]
Well, currency debasement is pretty bad, as a few key statistics will reveal, but first some background. At the Bretton Woods Conference in 1944 the US agreed that it would redeem dollars for gold at [more…]
Gold-backed civilization vs. the Welfare State Many rational economists and students of history have written countless analyses on the gold standard and the terrible impact that its end has had on the world economy. However, [more…]
The rise and fall of the Roman Empire is arguably one the most studied, written about and theorized over subjects in academia, with fiery debates raging for hundreds of years among historians, sociologists and political [more…]
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