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The Slow-Motion Financial Suicide of the Roman Empire

Wednesday, August 26th, 2015 by and posted in Banking, Capitalism, Economics.
St_Peter's_Square_Vatican_City_-_April_2007

Reprinted from the Freeman More than 2,000 years before America’s bailouts and entitlement programs, the ancient Romans experimented with similar schemes. The Roman government rescued failing institutions, canceled personal debts, and spent huge sums on welfare programs. The result wasn’t

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Down with Legal Tender Part 2

Friday, August 21st, 2015 by posted in Banking.
currency teaser

[This article is excerpted from chapters 4, 5, and 6 ofDenationalisation of Money: the Argument Refined.] Private Money Preferred There certainly can be and has been money, even very satisfactory money, without government doing anything about it, though it has

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Down with Legal Tender Part 1

Thursday, August 20th, 2015 by posted in Banking, Capitalism, Economics.
currency_wars_teaser

[This article is excerpted from chapters 4, 5, and 6 ofDenationalisation of Money: the Argument Refined.] When one studies the history of money, one cannot help wondering why people should have put up for so long with governments exercising an

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Are Austrian Criticisms of Mainstream Economics Still Relevant?

Monday, August 3rd, 2015 by posted in Banking, Economics.
Rothbard

Occasionally, when Austrians try to distinguish their brand of doing economics from the mainstream, they get hit with accusations that they are attacking straw men; that no one believes what Austrians claim is the mainstream approach. Is this true? Are

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Central Banks and Our Dysfunctional Gold Markets

Friday, July 31st, 2015 by posted in Banking, Economics.
gold-coins-1280x960 teaser

Reprinted from Mises.org Many investors still view gold as a safe-haven investment, but there remains much confusion regarding the extent to which the gold market is vulnerable to manipulation through short-term rigged market trades, and long-arm central bank interventions. First,

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Short Memories in Las Vegas

Thursday, July 30th, 2015 by posted in Banking, Capitalism, Economics.

Reprinted from LewRockwell.com Rates are low, the weather is hot, and builders are more active than they’ve been in years. “Groundbreakings on new homes surged 26.6% and permits to build new homes rose 30% in June compared to one year

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The Chimera of Contracyclical Policies

Wednesday, July 15th, 2015 by posted in Banking, Capitalism, Economics.
money printing teaser

[Republished from Human Action (1949)] An essential element of the “unorthodox” doctrines, advanced both by all socialists and by all interventionists, is that the recurrence of depressions is a phenomenon inherent in the very operation, of the market economy. But while

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Gold and Economic Inequality

Friday, July 10th, 2015 by posted in Banking, Capitalism, Economics.
gold silver teaser

Reprinted from Mises.org Inequality is a top news items for 2015 driven largely by the Baltimore riots, the minimum wage debate, Thomas Piketty’s bookCapital in the Twenty-First Century, and now the entry of socialist Bernie Sanders into the race for

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Keep Your Old Dimes Safe

Monday, July 6th, 2015 by posted in Banking, Capitalism.
RooseveltDimesNOSACK_teaser

As a child I was told by my grandfather to keep an eye out for old dimes and to keep them because while dimes minted before 1967 were 80% silver, dimes minted from 1968 onwards were 99.9% nickel. While both

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Patrick Barron interviewed re: The Greek Crisis

Friday, July 3rd, 2015 by posted in Banking, Capitalism, Economics, Socialism.
Patrick Barron interviewed re: The Greek Crisis

Patrick Barron: The Greek Crisis and the Impossibility of the Euro Published on Jul 2, 2015 Jeff Deist and Patrick Barron discuss European integration, which pits creditor nations like Germany against hapless debtors like Greece under the yoke of the

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Hayek on the Business Cycle

Thursday, June 25th, 2015 by posted in Banking, Economics.
banking-jobs teaser

[Introduction to Prices and Production and Other Works by F.A. Hayek. Reprinted from Mises.org] Friedrich A. Hayek was barely out of his twenties in 1929 when he published the German versions of the first two works in this collection, Monetary

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Cyclical Changes in Business Conditions

Friday, June 19th, 2015 by posted in Banking, Economics.
bank teller teaser

This article is excerpted from The Causes of the Economic Crisis and Other Essays Before and After the Great Depression, chapter 3, part II, “Cyclical Changes in Business Conditions.” The Role of Interest Rates In our economic system, times of

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Austrian Business Cycle Theory: Answering the Critics

Thursday, June 18th, 2015 by posted in Banking, Capitalism, Economics.
Austrian Business Cycle Theory: Answering the Critics

According to the economists of the Austrian School, artificial credit expansion is the primary factor behind the business cycle. Critics have tried to poke holes in the theory, but David Howden shows those holes are just an illusion. https://www.youtube.com/watch?v=oVR79OJgGvA&feature=youtu.be

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Hidden In Fannie and Freddie

Thursday, June 18th, 2015 by posted in Banking, Economics.
Screen Shot 2015-06-18 at 9.32.22 AM

With another financial crisis fast approaching the cause of the ‘08 crash hasn’t been settled. Austrians generally line up on the side of the all-powerful Fed having lowering interest rates below what the market would produce, sending capital into malinvestments:

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The Ultimate Disorganizing Organization Part 2

Wednesday, June 17th, 2015 by posted in Banking, Economics.
federal reserve teaser

[Testimony before US House Committee on Financial Services Domestic Monetary Policy and Technology Subcommittee, May 8, 2012] Do We Need a Central Bank? Without a central bank, how can a monetary system work? Don’t we need a central bank to

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The Ultimate Disorganizing Organization Part 1

Tuesday, June 16th, 2015 by posted in Banking, Economics.
Federal Reserve teaser

[Testimony before US House Committee on Financial Services Domestic Monetary Policy and Technology Subcommittee, May 8, 2012] I specialize in the economic theory of organizations — their nature, emergence, boundaries, internal structure, and governance — a field that is increasingly

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The Government and the Currency

Thursday, June 11th, 2015 by posted in Banking, Capitalism, Economics.
currency teaser

[Human Action (1949)] Reprinted from Mises.org Media of exchange and money are market phenomena. What makes a thing a medium of exchange or money is the conduct of parties to market transactions. An occasion for dealing with monetary problems appears to

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Gold Verses Fractional Reserves Part 2

Wednesday, June 3rd, 2015 by posted in Banking, Capitalism, Economics.
gold teaser

Reprinted from Mises.org. Article originally appeared in the Freeman May, 1979 The Harmful Consequences We have now to examine the harm that the system does whether or not the pressure to reduce the reserve requirements is continuously successful. Let us

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Gold versus Fractional Reserves Part 1

Tuesday, June 2nd, 2015 by posted in Banking, Economics.
goldt

Reprinted from Mises.org. This article originally appeared in The Freeman, May 1979. The present worldwide inflation has done, and will continue to do, immense harm. But it may eventually lead to one great achievement. It may make it possible to restore

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My letter to the Financial Times, London re: Do bank regulations actually work?

Friday, May 29th, 2015 by posted in Banking, Regulation.

Re: Banks face pushback over surging compliance and regulatory costs Re: ECB warns of risks posed by shadow banking sector Dear Sirs: Nowhere in your excellent article about shareholder concern over whether banks are spending their regulatory compliance money wisely

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