#67 The London Gold Pool
From 1961 to 1968 Western Banks corroborated in what was known as the London gold pool. Essentially The United States and a handful of European nations pooled their gold resources into the London gold exchange…
From 1961 to 1968 Western Banks corroborated in what was known as the London gold pool. Essentially The United States and a handful of European nations pooled their gold resources into the London gold exchange…
As we continue to work our way back in time, understanding the nature of banking and its historical changes grows more complex. For a deep dive, I suggest Murray Rothbard’s A History of Money and…
Economics is not zero sum. However, there are certain push and pull effects in global economies which are driven by government policy making. Here are some interesting data points. Now its no secret that the…
Natural rights, as a concept, seems to be lost in the modern political lexicon. Natural rights are differentiated from legal rights, in that they are not dependent upon the basis of a legal system. More…
What is money? Why do we use it? When faced with the reality of today and our struggles with money, idealists often ask “If money is the ‘root of all evil’, why not just go…
Fiat money and overbearing legislation (which also creates legal monopolies) has overwhelming crushed entrepreneurship in the west. Browse through some of the data presented below to get a picture of the landscape. Not only does…
How good are your pattern recognition skills? If you remember our previous two posts covering the panics of 1907 and 1893 you would recall that a common theme presents itself. Periods of artificial monetary expansion,…
In case you missed our fantastic interview with Mark Moss, check it out here. Today we have a new story with an all too familiar theme. A continuation of our look at the panics of…
Since someone took it upon themselves to sign me up for some sort of MMT “tokenomics” newsletter and I was forced to suffer through reading a dozen paragraphs of nonsense about the utility of value…
We’ve discussed previously how monetary expansion and deficit spending are a political mainstay. It’s actually quite frustrating to watch the dog and pony show that is the current American political theater in the midst of…