Mention the term “legal tender” in polite company and most people will resemble a deer in the headlights. In simple terms legal tender laws grant monopoly status to money, usually fiat, produced by government; i.e., [more…]
Why do I persist in writing these essays on economic issues? Certainly not to influence government policy – that would indeed be a forlorn hope, despite the strength of support coming from most of my [more…]
Eagerly anticipated by coin collectors across the world, the 2022 Proof Sovereign range was launched by the Royal Mint on 15th November and sold out within the first hour. Dropping the usual Pistrucci designed George [more…]
There are many good recommendations promoted by Austrian school economists for improving the economy. Although we enjoy successes periodically, most–such as deregulating trucking and airline pricing–involve eliminating previous government interventions. These successes are to be [more…]
Following his interview with Vladimir Lenin on the subject of inflation in 1919, John Maynard Keynes quoted the Russian as having said “The best way to destroy the capitalist system is to debauch its currency”, [more…]
As well as buying precious metals for their intrinsic value there are many people who collect coins, bars and other items and pay far more than their value in weight because of a perceived value [more…]
Here’s a challenge for readers: Stop reading right now and write down at least five threats to the US. Rank them in order of most serious at the top. Ask family members or friends to [more…]
What happened and why This year marked the 50th anniversary of President Nixon’s decision to unilaterally close the “gold window”. The impact of this move can hardly be overstated. It triggered a tectonic shift of momentous [more…]
Claudio Grass (CG): Even before the pandemic, there was a clear trend towards the politicization of central banks and monetary policy. Over the last year, however, we saw this accelerate considerably, to the point where [more…]
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