Blogs: John D. Mueller
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Written by John D. Mueller
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Tuesday, May 31, 2011 |
 One question I've heard more lately: Now that the gold price is over $1,500 an ounce, shouldn't the U.S. sell its gold reserves—which were mostly acquired from U.S. citizens in 1933 at $20.67 or bought at $35 an ounce under the post-World War II Bretton Woods monetary system?
If, as Lewis E. Lehrman and I have shown, restoring the gold standard is necessary to sort out the U.S. economic and fiscal mess—specifically, preventing future episodes like the Great Recession of 2007-09, reversing the decline of U.S. international co Read more |
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Written by John D. Mueller
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Tuesday, April 26, 2011 |
 "I got along with him fine. But Ben Bernanke thinks he's the smartest guy in the room, and wanted everyone to know it," remarked an acquaintance who used to sit in policy meetings with him. I was reminded of the remark when I read that Bernanke would become the first Federal Reserve Chairman to hold press conferences after meetings of the Federal Open Market Committee (FOMC). Bernanke specialized at Princeton in the Great Depression. Yet he ignored Jacques Rueff's contemporaneous explanation. As the chart shows, U.S. stock Read more |
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Written by John D. Mueller
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Thursday, April 07, 2011 |
 Atlas Foundation Conference on
“Consequences of Progressive Policy on Money and Investment”
Dallas, TX, 1 April 2011
I’m grateful for Alex Chafuen’s invitation—I’ve long admired his work—to take part at the Atlas Foundation conference on the consequences of progressive policy on money and investment, on this panel on the principles of sound money. I’d like to draw on a chapter in my recent book, Redeeming Economics, to explain why both American and world history show that only proper monetary reform—specifically, re Read more |
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Written by John D. Mueller
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Wednesday, February 16, 2011 |
 In his memoirs, President Ronald Reagan (Feb. 6, 1911-June 5, 2004) recalled, "To get the spending and tax cuts we wanted through Congress, we needed the help of a substantial number of Democrats in the House as well as the votes of nearly all the Republicans in both houses of Congress."
Despite deep partisan divisions, Reagan won majorities of Republicans, Independents and "Reagan Democrats" by heeding James Madison's observation in Federalist No. 10 that "the most common and durable source of factions is the various Read more |
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Written by John D. Mueller
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Tuesday, February 08, 2011 |
 Is Wikileaks founder Julian Assange channeling Don Draper in the TV series Mad Men—the brilliant but ethically challenged publicist with retro lifestyle issues? Assange got the Daily Telegraph breathlessly to report an old June 2009 "confidential" cable from the U.S. London Embassy to the U.S. Treasury, State Department, Beijing and Moscow embassies, headed "LONDON-BASED EXPERTS AGREE THE U.S. DOLLAR WILL MAINTAIN ITS RESERVE STATUS."
The significance was hardly that Treasury Secretary Timothy Geithner deemed Read more |
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