Currently viewing the tag: "Paul Volcker"
1 kilo gold bar

U.S. Republicans introduce gold standard debate – mainstream media go mental

On September 3, 2012 By

I am not holding my breath over the Republicans’ plans for another gold commission to investigate the possibility of returning the USA to a gold standard in the case of the Romney-Ryan ticket winning. Of course, I like the Classical Gold Standard, which existed from about 1880 to 1914, and I am convinced it was [...]

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gold

Is gold in a bubble?

On June 1, 2012 By

To answer this question is not straightforward. As the gold-sceptics keep reminding us, gold pays no coupon and no dividend, it does not offer a running yield, so traditional measures of ‘fair value’ do not apply. But gold is money, and just as the paper ticket in your wallet does not pay interest, neither does [...]

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Picture of Christina Romer

Christina’s toxic cookbook

On November 7, 2011 By

 Keynesian and other mainstream economists cannot explain the present crisis. That doesn’t seem to bother them. All they can offer is a description of symptoms, such as with their favourite phrase of lack of ‘aggregate demand’, which, if you think about it, doesn’t really explain anything. How come demand dropped? Why did it drop now [...]

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gold

Gold “bubble” bursting? – I don’t think so

On October 4, 2011 By

In today’s Financial Times Mark Williams argues that the recent correction in gold means the gold “bubble” is finally bursting. Unfortunately, he does not provide a single reason for why the 10-year bull market in the precious metal constitutes a “bubble”, nor why this rally must end now. According to the narrative of this article, [...]

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dollar notes falling from sky

The bureaucracy versus you

On September 13, 2011 By

The global finance bureaucracy is clueless. Its policies are failing. Yet, the bureaucracy is not giving up. The same tired and idiotic explanations for what is wrong with the economy and what the economy needs are regurgitated with numbness-inducing persistency: The economy is in need of more, wait for it, “demand”. Not necessarily your demand [...]

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