Thursday, July 24th, 2014 MST

Thompson Reuters/CME likely new London silver price fixers

August 14, the 117-year old London silver fix will be no more.  The fix, which now is set by HSBC, Scotia-bank and Deutsche Bank, has been deemed no longer viable because Deutsche is dropping out and cannot find a buyer for its seat on the fixing body.

Critics of the fixing process have for decades alleged manipulation of silver — and gold — prices.  Even supporters of the fix acknowledge that only two banks cannot provide a fix that would be accepted by the market.

Should Government Abolish its Paper Money?

by Joe Cobb Harvard professor Kenneth Rogoff wrote in the Financial Times, May 29, that “Paper money is unfit for a world of high crime and low inflation.”  He proposed to get rid of paper money.  Government paper money.  What would people do to make payments?

The Poverty of Nations

The Left is making “income inequality” a cause célèbre , even trying to make it a campaign issue for this election cycle.  Academicians and theorists present many reasons for why the “top one percent” earn so much more than the middle class, but lost in the discussions is why wealth is created by some people

Cheap money: get used to it

Central planners and their minions rarely–if ever–admit the failures of their programs.  In fact, they rationalize and even support their continuations when the schemes fail, laying blame on “the markets” or someone else’s inability to recognize the brilliance of their interventionist schemes.  Martin Wolf, the Financial Times chief economics commentator, recently lamented the lack of

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