The gold price fell, dramatically, and now is bobbing about. Meanwhile, the prospects for implementing a 21st century gold standard continues to rise. Dramatically.
In a recent media monetary policy media slugfest between The New York Times and The Atlantic, on one side, and Bloomberg.com and Forbes.com on the other, analyzed here, recently, the gold standard prevailed. It is noteworthy that gold’s victory in that skirmish came in a larger context.
The gold standard used to be consigned, mainly (to borrow Read more
Amid an ongoing decline in the price of gold, a major brawl recently broke out in the elite media over … the gold standard. What is this free-for-all all about? And why does it matter? It matters because… the gold standard finally has demonstrated that, after a long eclipse, it is being taken seriously in elite (if not uniformly polite) company.
The breakout headliner issue in 1978 was “Tax Revolt.” A Time Magazine cover showed Howard Jarvis shaking his fist under that headline. Proposition 13 time. Then? The Tax Revolt went, as we would now say, viral. Citizen discontent — and political activism — against high tax rates turned into a national, and then international, phenomenon. The revolt was a major factor in toppling President Carter. It led the U.S. top income tax rate to collapse from 70% to 28%. Then, rates worlRead more
Meet Rep. Kevin Brady (R-TX): the Six Trillion Dollar Man. Brady recently took the chair of Congress’s arguably most important inner think tank, the Joint Economic Committee. From this perch Brady is proposing to provide the combination to open the lock of a safe that holds $6 trillion in potential revenues for the federal government. (That is well over 20 times the value of all the gold in Fort Knox.) Without raising taxes. Game changer.
Brady is positioned to become America’s new JaRead more
The True Gold Standard, a lucid, scholarly volume by financier-philanthropist, and Reagan Gold Commissioner, Lewis E. Lehrman, recently has been published in a handsome second, much expanded, edition. Why does this matter?
Central banks have become net buyers of gold for the first time in 20 years. There is uneasiness within the United States and among its trading partners with exotic Federal Reserve policies such as QE1, QE2, QE Infinity and Operation Twist. The value of the dollar has eroded by about 85 percent since Read more