The US Corporate State
The crash was said to prove how destructive “unregulated capitalism” could be and how dangerous its supporters were.
The Keynesian Endgame
The breakdown of sound money has now finally generated a cruel endgame.
Taxation is Robbery, Part 1
What sanction, in morals, does the State adduce for the taking of property?
The Gold Standard that Never Was
Thorsten Polleit delivered a speech at the Austrian Economics Research Conference entitled “The Gold Standard That Never Was.” Thorsten was interviewed by GoldMoney’s Andy Duncan.
David Howden on the Euro
David Howden is interviewed on the GoldMoney show with Andy Duncan.
“Tax Expenditures”: Not Taxing Is Allegedly Spending
In effect, the government’s not taking is alleged to be giving. Its not taxing is alleged to be spending.
Cyprus and the Unraveling of Fractional-Reserve Banking
A few more banking crises will likely cause confidence in the fractional-reserve banking system to evaporate.
America’s Great Depression Quotes of the Week: Bank Failures and Real Monetary Reform
The Road Not Taken in 1933 and its Modern Consequences
The Cyprus Deal and the Unraveling of Fractional-Reserve Banking
The “Cyprus deal” as it has been widely referred to in the media may mark the next to last act in the the slow motion collapse of fractional-reserve banking that began with the implosion of the savings-and-loan industry in the U.S. in the late 1980s. This trend continued with the currency crises in Russia, Mexico, East Asia and Argentina in the 1990s in which fractional-reserve banking played a decisive role.
How Banks Go Bust
[The Case Against the Fed, Chapter 8, “Problems for the Fractional-Reserve Banker: Insolvency.” (Slightly edited for publication as a separate article.)]
The fractional-reserve banker, even if he violates his contract, cannot be treated as an embezzler and a criminal; but the banker must still face the lesser, but still unwelcome fact of insolvency. There are two major ways in which he can become insolvent.
