On August 12 the Bureau of Labor Statistics reported that consumer prices rose 0.1 percent in July and 3.4 percent over the previous twelve months, a tenth of a point below June. Markets treated the print as confirmation that the measuring rod is behaving.
Last week, the BOJ raised the benchmark rate to 1.25%. Price inflation and the weakening yen continue to dog the central bank.
Three pro-gold and silver groups have teamed up to present the second edition of the Sound Money Review, a scholarly journal dedicated to advancing principles of sound money.
As a politician, Donald Trump has always been almost unmatched in his ability to direct and steer the media in ways that benefit him.
I’m sure that most of the discussions in the closed-door meetings at the Fed’s recent Jackson Hole Symposium centered on the problems of printability. They certainly won’t be part of the paper presentations or press conferences.
The US government has been spending like a teenager with an unlimited credit card that they don’t have to pay off since going off the gold standard.
Climate change may be real. Temperatures may be rising, human activity may contribute to that rise, and environmental problems deserve serious attention. None of these propositions, however, establishes that governments possess the knowledge required to reorganize an entire economy in response to climate projections.
Since fiat currencies, per se, are not redeemable for anything other than themselves, their very existence depends upon confidence. The issuing authority must not inflate the currency’s size to the point that it begins to lose purchasing power in the market at an abnormal rate. As long as the public is willing to hold the currency, its purchasing power need not depreciate at a noticeable rate.
