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Stimulus, Austerity, and the Spiral of Decline

In an economic decline, mediocre governments typically bounce back and forth between “stimulus” and “austerity.” They are the ketchup and mustard of bad recession policy. “Stimulus” – favored by the...

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Gold Never Has Been (and Never Will Be) in a Bubble

Most serious gold investors follow a basic principle: that gold is stable in value. Changes in the “gold price” represent changes in the currency being compared to gold, while gold itself is...

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The Biggest Obstacle

Keynesianism has reached its natural extreme. The floating-currency status quo, in place since 1971, is becoming more and more intolerable. Before too long, the soft money fanatics will give way in...

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The Cheapest Thing on Earth

Quick: name an asset, publicly traded, that is the cheapest in a hundred years. Houses? Nope. Stocks? I don’t think so. Commercial real estate? Bonds? Not too many, are there? Now here’s a tougher one....

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When the Earth Stops Revolving Around the Dollar

Nicholas Copernicus (1473-1543) is known today as the “Earth goes around the sun guy,” but he also advised the Royal Prussian parliament on monetary reform over a period of several years. During this...

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The Parallel Currency that Could Save Your Purchasing Power

Parallel currencies, in practice, are actually very common today. But for some reason, the idea of them are not very well-formed in people’s minds. Bitcoin is an example of a parallel or alternative...

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How to Perfect the “Least Imperfect” Monetary System

Out of the “currency wars” of the 1930s, and then World War II, came a shared dream among the non-communist states: to establish a stable economic environment for business and trade. Representatives...

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Central Banking 101: Why Bank Insolvency Should Never End in Money Printing

This post Central Banking 101: Why Bank Insolvency Should Never End in Money Printing appeared first on Daily Reckoning. One of the things I discovered when I was in Japan in the 90s, when they had...

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How to Transition to a Gold-Based Currency

This post How to Transition to a Gold-Based Currency appeared first on Daily Reckoning. Though alternative currencies, in practice, are pretty common today, many dismiss the idea without knowing the...

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Greece: Planning A Bank Holiday

This post Greece: Planning A Bank Holiday appeared first on Daily Reckoning. Following a Greek government default, and possibly before then, Greek banks would likely be both insolvent and unable to...

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