On August 15, 1971, President Richard Nixon declared that the United States would no longer honour its promise to exchange US dollars held by foreign central banks for gold at a fixed price of $35 an ounce. The innocuous term ‘Nixon closed the gold window’ that is now widely used to describe this act does [...]
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Last week I was a guest on the Keiser Report with Max Keiser and Stacy Herbert on RT. Here is a link to my interview.
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Should the Greeks have a referendum on whether they want to stay in the euro? Are the upcoming elections such a referendum? Would it be better for the Greeks if they left the euro? – Are you, like me, sick and tired of hearing these questions and then the answers based on the same stale [...]
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The economic policy debate is dominated by wishful thinking and fallacies of the most dangerous kind, propagated no less by the high and mighty in the policy bureaucracy and the alleged experts in the media. Here is my point, and every clear-thinking person already knows it: That economic growth, and thus recovery from the crisis, [...]
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Anybody with any knowledge of economics should feel uneasy at the sight of a country where half of recorded economic activity is conducted by the state. Are such semi-socialist societies operable, and if so, for how long? That complete socialism is impossible and that any attempt to establish it must fail, we know for sure [...]
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It is a beautiful autumn day in London, unseasonably warm and sunny, the city looking its very best, and I am trying to find a hook for this blog. I should write about the European debt crisis, the sharp drop in equity markets last week after “Operation Twist” was announced, and the washout in commodity [...]
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For over a year now the Eurocracy has tried to put Humpty-Dumpty together again, to somehow restore belief in the solvency of the European welfare state, which is ultimately the real issue at the core of the current malaise rather than just the problems of the more recklessly extravagant periphery. The Greek state cannot live [...]
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Gordon Brown as the next head of the IMF? What a splendid idea – at least as long as Charlie Sheen is not available. No seriously, the despicable, interventionist IMF and the unpopular etatist Brown – a perfect match –perfect, I hope for further discrediting the global paper money bureaucracy, the new political elite lording [...]
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Recent Comments
{ Feeding a little conspiracy theory ... considering a four-year schedule, put aside the gold standard... } – Sep 27, 3:20 PM
{ Federico, apologies for the slow response. You make a very good point. Banking systems in... } – Sep 27, 3:15 PM
{ Mr Schlichter, excellent article. I agree with previous comments to a great degree as well.... } – Sep 27, 9:16 AM
{ Richard Fisher, President of the Dallas Fed, and a member of the FOMC of the... } – Sep 27, 3:50 AM
