201109.30
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Precious Metals’ Place in the Liquidity Crisis

The prospect of unlimited quantitative easing (QE) has always been a driving force behind the demand for precious metals. Conventional trading wisdom has always held that gold is one of the best hedges against inflation, with silver acting as both money and a commodity. Since QE is nothing more than money printing disguised through the…

201109.26
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The World Needs a “Cross of Gold” Once Again

By John L. Chapman, Ph.D.                                                                                                                                                  Washington, D.C. On July 9, 1896 at the Democratic National Convention at Chicago, Democrat nominee William Jennings Bryan ended his acceptance speech with lines that have become famous in American political history: If they [William McKinley and the Republicans] dare to come out in the open field and defend the…

201109.26
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Productivity not Aggregate Demand

“The policy changes in the late 1930s benefited the economy by increasing competition, by bringing wages more in line with productivity, and by improving the incentives for investing.” University of Pennsylvania professor Harold L. Cole and UCLA’s Prof. Lee E. Ohanian suggest temporary stimulus in an effort to increase aggregate demand is no prescription for…

201109.26
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Regulation: Enough is Enough

Senator Susan Collins of Maine is proposing legislation for a 1 year moratorium on new regulation. http://online.wsj.com/article/SB10001424053111904194604576583082888335542.html?grcc=88888&mod=WSJ_hpp_sections_opinion First, I agree with Ms. Collins, enough is enough.  Do we really need congress regulating to the point of ordering walnut companies not to market the health benefits of their product?  If harm were inflicted because of this…

201109.24
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The Cognitive Dissonance Of Monetary Stimulus & Inequality

There seems to be a lot of agreement on the port side of the political divide that what the economy needs right now is more monetary stimulus (see here, here and here for examples). It is unfortunate, I think, that “the Fed is tight” argument actually seems to have originated with Scott Sumner at his…