Monetary Policy

The Prospects for Sound Money

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A silver lining of the global economic crisis is that millions of people have been awakened to the importance of sound money to a modern economy. The housing bubble and subsequent bust, excessive leveraging, reckless speculation, and the sovereign-debt crisis afflicting Europe and the United States would all have been averted had money been commodity-based (e.g., gold and silver) ... [click for more]

The Debt Crisis and Fiat Money

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The European Union (EU) has a sovereign-debt problem. Greek government bonds have been downgraded to junk status, and there is talk of default. Italy, Spain, and Portugal appear to be next, as they face skyrocketing interest rates just when their governments must borrow more to service their debt. Should these countries default, some of Europe's largest banks which are heavily ... [click for more]

Central Planning at the Federal Reserve

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While it is understandable that inflation hawks keep a close watch on the Federal Reserve’s money-creation activities, an equally worrisome Fed activity is taking place right under their noses. Whether or not the Fed is expanding the money supply, it has undoubtedly moved into a new activity under cover of addressing the financial crisis and recession: central planner of ... [click for more]

Ron Paul’s De-Stimulus Plan

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Congressman Ron Paul has put forth an economic plan that calls for serious cuts in the size, budget, and power of the federal government. He has also proposed policies that would end the Fed-driven inflation responsible for the global economic meltdown. This is truly a de-stimulus plan. Paul’s plan would immediately cut $1 trillion from the federal budget by closing ... [click for more]

Censoring Cash

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If “money talks,” then a global campaign is being waged to silence it or, at least, to let cash speak only with permission. The Economic Collapse blog states, “All over the world, governments are either placing stringent reporting requirements on large cash transactions or they are banning them altogether. We are being told that such measures are needed to ... [click for more]

A Historic Fiscal Solution, If We Overcome Convention Fears

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If you haven’t noticed, the major problems at the federal level are bipartisan. The debt-ceiling charade, in particular, demonstrated that leaders of both major parties have no desire to balance their books. Sure, they’ll propose minor cuts to spending projections, but the status quo of deficits suits them just fine. The status quo does not, however, suit taxpayers, ... [click for more]

Federal Reserve Grabs New Powers

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While inflation hawks understandably keep a close watch on the Federal Reserve’s money-creation activities, an equally worrisome Fed activity is taking place right under their noses. Under cover of addressing the financial crisis and recession, the Fed has become the central allocator of credit. As San Jose State University economics professor Jeffrey Rogers Hummel points out in The Independent Review ... [click for more]

Yes We Can

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Speaking from the Rose Garden last week after Senate approval of the bill to raise the debt ceiling, President Obama said about the federal deficit, And since you can’t close the deficit with just spending cuts, we’ll need a balanced approach where everything is on the table. Yes, that means making some adjustments to protect health-care programs like ... [click for more]

An Amy Winehouse Government

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It feels like we’re dealing with an Amy Winehouse form of governing. “These overdoses happen because these guys drink 20 beers and then reach for their heroin,” a friend of mine said after the late star’s recent death, at 27. “You can’t think straight once you’re totally blitzed.” It seems the same with our politicians, overdosed on their own importance. Their ... [click for more]

A Cheer and a Half for the Tea Party

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Were it not for the Tea Party, the debt-ceiling controversy might never have taken place. Kudos on that count alone. It comes as no surprise that the governing class and its boosters in the media portray the Tea Party folks as a collection of bumpkins and idiots who “don’t know the difference between campaigning and governing” — indeed, who would ... [click for more]

Shared Sacrifice: Obama’s Demagoguery

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The most offensive claim made during the debt-ceiling controversy is that there’s a moral equivalence between cutting government spending and raising taxes. President Obama asks for “shared sacrifice” to reduce the budget deficit. In his view, if the government spends more than it takes in — it currently borrows more than 40 cents of every dollar spent — the ... [click for more]

The Collateral Is Us

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The witching hour is nigh and the threat of the U.S. defaulting on the federal debt is being bandied about as if it were the boogeyman. Fear mongers from the left and right both say the country will go belly up unless the debt ceiling is raised by the Aug. 2 deadline, that it will no longer be able to ... [click for more]
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