The mark of any flunk economic thinker is the statement “we live in a capitalist system.” Without a doubt, the United States, along with the rest of the West, is still gifted with a market-based economic system. But calling it
Economics 
Meet Stephen Poloz – The Canadian Patsy
Stephen Poloz is the new Bank of Canada Governor. Before this he headed Export Development Canada, a federal Crown Corporation. Mainstream critics argue that Poloz doesn’t have the “macroeconomic” experience and that he lacks the connections to the world’s central
Gold Never Sleeps
The following is an excerpt from the new book, $10,000 Gold: Why Gold’s Inevitable Rise is the Investors Safe Haven, available in bookstores the week of May 6, 2013. When gold speaks, all tongues are silent. —Robert Ringer —Italian proverb
Austerity after Reinhart and Rogoff
With the world abuzz about mistakes in some influential research by economists Carmen Reinhart and Kenneth Rogoff, attention is being drawn to the case for austerity. Reinhart and Rogoff published several academic articles arguing that, among other things, high levels
Do Western Central Banks Have Any Gold Left??? Part II
Reprinted from Sprott.com The past few months have been difficult for the gold investor as selling pressure in the gold futures market has set a decidedly negative direction for the price of the yellow metal. As fundamental investors, we always
The Futility of Bank Regulation
It’s been over four years since the financial crisis ripped through the American banking system like a viral disease and put the world economy in a coma. From that fateful Autumn when Washington took off the blinds and showed its
Welfare Costs Rapidly Escalating – Everywhere
Reprinted from GoldMoney Many of us are aware of Professor Laurence Kotlikoff of Boston University’s calculation that the net present value of the US Government’s future liabilities rose by $11 trillion in fiscal 2012 to $222 trillion. These are principally
A short history of currency swaps
Republished from “A View from the Trenches“, by Martin Sibileau To read this article in pdf format, click here: May 5 2013 With equity valuations no longer levitating but in a different, 4th dimension altogether, and credit spreads compressing… Which fiduciary portfolio
A Final Farewell to the Penny
It is as timely as ever to take a quick stocktaking of the penny�s role now that it is officially removed from our lives. While many are quick to point out that we don�t have to be weighed down by
Bitumen Bubble A Joke
Recently, Albertan Premier Alison Redford told the public that massive government debts and deficits were a result of a “bitumen bubble.” Clearly, Alberta’s finances are the result of an economic calculation problem. An institution can’t allocate resources efficiently if price
A LeaderShift: What we need in our country today
It’s time for power to go back to where it belongs; to the people. With politicians and the business elite making all our decisions for us, we are losing our freedoms each and every day, and our standard of living
“Tax Expenditures”: Not Taxing Is Allegedly Spending
Reprinted from Mises.org Runaway government spending is among the most important economic problems of our time. It is absolutely urgent that it be brought under control and progressively reduced until it is sufficient to provide for no more than the
Laughter at the Central Bank
Defying the stereotype of the central banker as a serious and staid personality, it turns out those who formulate policy at the Fed have been known to crack a joke or two while on the job. A forthcoming article in
Austrians Don’t Blow Bubbles
Reprinted from The American Conservative Remember the golden days of 2007, when we were all investment prodigies? Though I couldn’t balance a checkbook or drive a car, I had raked in 25 percent increases each year on my 401k since
Cuba: The Revolution Continues
Recently, the media has been abuzz with the story of Jay-Z and Beyonce’s visit to Cuba. Like Dennis Rodman’s visit to North Korea, it is beginning to appear as though the Obama administration’s new tools of foreign policy are coming
The False Choice in Europe Between Austerity and Growth
The debate in Europe over what policies the debt ridden countries should pursue is being falsely constructed as a choice between austerity and growth. Not only is there another, more appropriate alternative, but these two alternatives themselves are not properly
Debt, Growth, and the Illusions of Social Scientism
For all the politicians and economists who have been doggedly nonchalant about escalating levels of public debt, this was a good week. Making their week was the revelation that the statistical calculations in an influential paper were off. It is
“Tax Expendituresâ€: Not Taxing Is Allegedly Spending
Reprinted from Mises.org Runaway government spending is among the most important economic problems of our time. It is absolutely urgent that it be brought under control and progressively reduced until it is sufficient to provide for no more than the
It’s Official: Global Economic Policy Now Firmly in the Hands of Money Cranks
Reprinted from DetlevSchilter.com The lesson from the events of 2007-2008 should have been clear: Boosting GDP with loose money – as the Greenspan Fed did repeatedly between 1987 and 2005 and most damagingly between 2001 and 2005 when in order
Explaining the Relative Loss of Canadian Manufacturing
Andrew Jackson laments that there is little cause for optimism in the recent study published by the Macdonald-Laurier Institute explaining that Canadian manufacturers have maintained competitiveness despite a strong loonie. In particular, Mr. Jackson points to the loss of 464,000
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