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jay cooke

Before Hume, Before Carnegie

By |2020-09-28T20:01:19-04:00September 28th, 2020|Bonds, Currencies, Economy, Federal Reserve/Monetary Policy, Markets|

For as long as there have been people, there have been great people who have spent their time thinking about money. For as long as money has existed, the reasons to commit so much to studying its beautiful and horrific effects have been obvious. It’s really only been the last half century when ignorance had become the preferred position.So much [...]

144 Years Later, Cooke’s Legacy Still Reminds Us To Understand What Happened Not Just What Happened After

By |2017-09-18T18:39:59-04:00September 18th, 2017|Bonds, Currencies, Economy, Federal Reserve/Monetary Policy, Markets|

It is a great myth that before 20th century monetary inventions there were no liquidity safeguards in the country. If the Federal Reserve wasn’t founded until 1913, then it may seem that private currency elasticity before then was non-existent. The several bank panics that occurred with almost regularity in the second half of the 19th century seemingly a testament to [...]

Debt As Wealth; The Caution of Unfit Past Experience

By |2015-02-13T18:11:13-05:00February 13th, 2015|Economy, Federal Reserve/Monetary Policy, Markets|

With the G-20 recoiling itself back into the same kinds of mistakes made in the 1960’s, leading directly to the Great Inflation, we will have to take into account the other end of that, namely other forms of “stimulus.” With the global economy sinking, and worries about it beginning to resound beyond just inconvenient bears, there is growing official consensus [...]

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