According to Mark Hamrick, bankrate.com economist, there is an accepted theory by Fed critics that the Fed had JFK killed. The only reason for Hamrick to comment on this is to paint all Fed critics as “whacko birds,” to use a John McCain pejorative. No serious Fed critics, such as former Congressman Ron Paul, his
In Austrian Economics circles there is currently a debate whether Bitcoin – the most widespread of the new crypto-currencies – is a legitimate currency or just a complex scam. The debate has become some somewhat reminiscent of the inflation vs. deflation arguments of a couple of years ago with each side digging their heels in
How is it that almost every mainstream economist is continually proved wrong in their predictions, that almost every prescribed course of action has led to a continual decline in the future economic prospects for the average American? The answer lies in the fact that economics has long since stopped being a field of scientific inquiry
There is no great challenge to being successful when you have the sole legal right to create new money. On the other hand, convincing the American people and Congress to go along with such a scheme through the creation of a third central bank, the Federal Reserve, was no small task. But with that task
Here’s an interesting quote from Henry Ford: “It is well enough that people of the nation do not understand our banking and monetary system, for if they did, I believe there would be a revolution before tomorrow morning.” Do you know what he is referring to? I would guess that less than one in a
If you are ever in need of an example of economic fallacy in print, Paul Krugman’s blog is a great place to start. His recent offering on the economic benefits of food stamps is no exception: “Indeed, estimates from the consulting firm Moody’s Analytics suggest that each dollar spent on food stamps in a depressed economy raises
Grant Williams, author of the newsletter Things That Make You Go Hmm, recently presented at the 66th Annual CFA Conference in Singapore. The entire presentation is available above, but in this post we’re going to deal with less than ten minutes of his presentation. Although Mr. Williams addresses stock investors, his material should be of
The following is an excellent presentation by Christine Hughes of Otterwood Capital Management on the beginning of the end of the Japanese bond market and how it has negatively impacted gold in the short term. On April 4, 2013 the Bank of Japan announced their “2-2-2-2” policy in which they will attempt to create 2%
With gold and silver having suffered their biggest declines in their 12-year bull market, Bloomberg TV invited Ron Paul to comment. Watching the video, one can easily see that the interviewers thought that they could hammer Ron, a long-time and vocal advocate of gold, because of the price drops. They were wrong. The video is
Neil Irwin over at the Washington Post recently set about reminding the unwashed masses that, only the dollar is money, in his piece “Bitcoin is ludicrous, but it tells us something important about the nature of money.” He starts us out with his “givens”. “We can all agree that the dollar bills in my wallet