Money and Banks

It is impossible to grasp the meaning of the idea of sound money if one does not realize that it was devised as an instrument for the protection of civil liberties against despotic inroads on the part of governments.

This weekend marks the one year anniversary of China’s first step away from its more

F. Scott Fitzgerald, the novelist, said the rich are different from us.

Everybody worries about inflation these days. It’s chic. It’s trendy. And it gives me a great comeback to the boss at raise time.

Loan banking is non-inflationary. Interest rates on loans are merely reflective of price spreads. All speculation, on the free-market, is self-correcting and speeds adjustment, rather than cause economic trouble.

Barter – direct exchange- is inefficient because of the lack of a double coincidence of wants. Some third medium was sought to solve this. It is called money. Exchanges are not equal, they are win-win, with each party gaining more than he is giving or the exchange would not be made.

Paul Krugman is at it again.

Mike Shedlock gives a rather Austrian-flavored explanat

Does gasoline at 10 cents a gallon and falling sound impossible in today’s world?

Bloomberg News notes increased nervousness among tr