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Written by John Tamny
- Forbes |
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Monday, May 20, 2013 |
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In modern times the role of money has been almost totally perverted by the commentariat. Though money’s sole purpose is as a measure that facilitates the exchange of actual wealth (your bread for my wine), the desire to get something for nothing is so great that people actually believe prosperity can be had with the revving up of a printing press.
Back to reality, money is a measure. Simple as that. We produce so that we can consume, and money is the medium with which we do just that. That’s why its stability in va Read more |
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Written by Amanda J. Crawford
- Bloomberg |
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Wednesday, April 10, 2013 |
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Distrust of the Federal Reserve and concern that U.S. dollars may become worthless are fueling a push in more than a dozen states to recognize gold and silver coins as legal tender.
Arizona is poised to follow Utah, which authorized bullion for currency in 2011. Similar bills are advancing in Kansas, South Carolina and other states.
The measures backed by the limited-government Tea Party movement are mostly symbolic -- you still can’t pay for groceries with gold in Utah. They reflect lingering dollar concerns, amplified by Read more |
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Written by Staff
- Streetinsider.com |
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Tuesday, April 09, 2013 |
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With recent U.S. economic data hitting a bit of a plateau, including last week's nonfarm payroll miss, many states are turning a distrust in the Fed into a new gold standard. Literally.
Following Utah's passage of a bill in 2011 which recognizes gold as legal currency, many other states are vying for the same measure. The move is mostly symbolic given you still aren't able to pay for everyday goods with a nugget of the precious metal, but emphasizes overall lack of confidence in the U.S. dollar.
Other states looking Read more |
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Written by John Reid Blackwell
- Richmond Times-Dispatch |
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Thursday, April 04, 2013 |
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An advocate of aggressive action by the Federal Reserve Bank to stimulate job growth went head to head with one of the central bank’s firmest anti-inflation hawks Tuesday evening in Richmond.
Charles L. Evans, president of the Federal Reserve Bank of Chicago and a so-called “dove” on monetary policy, squared off with inflation hawk Jeffrey Lacker, president of the Federal Reserve Bank of Richmond, in a friendly debate at the Jefferson Hotel.
The Fed is “missing tremendously” in its mission to keep the unemployment rate Read more |
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Written by Steve Horwitz
- US News and World Report |
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Wednesday, April 03, 2013 |
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This December will mark the 100th anniversary of the opening of the Federal Reserve. As we have seen in recent years, there is no institution of economic policy with more power and less transparency than the Fed.
The Fed has almost never been held accountable for how it has performed. We have simply assumed that we need a central bank and trusted those in charge to make the right decisions. But the Great Recession may have changed that.
Congressman Kevin Brady, R-Texas, has proposed creating a bi-partisan Read more |
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