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economics Uncategorized

You can fondle the cube, but it will not respond.

You can fondle the cube, but it will not respond. It looks like the gold bubble is over and the price will be back to the pre-crisis trend line about the same time that the economy, unemployment and other metrics reach the pre-crisis trend lines. So it’s time to dust off the greatest.quote.about.gold.EVER. Today the […]

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economics Uncategorized

Gold on track for biggest annual loss in three decades

Gold on track for biggest annual loss in three decades So all those Ron Paul Austrians experts who warned about currency debasement and hyperinflation have come out and admitted they were wrong, right? 

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economics Uncategorized

anyone who believes that the gold standard era was marked by price stability, or for that matter any kind of stability, just hasn’t looked at the evidence. The fact is that prices have been far more stable under that dangerous inflationist Ben Bernanke than they ever were when gold ruled. Golden Instability – NYTimes.com

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economics Uncategorized

the world’s gold stock is about 170,000 metric tons. If all of this gold were melded together, it would form a cube of about 68 feet per side. (Picture it fitting comfortably within a baseball infield.) At $1,750 per ounce – gold’s price as I write this – its value would be about $9.6 trillion. […]

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politics Uncategorized

though Rasmussen did find that 57 percent of likely voters agreed with the gold standard after they were asked this follow-up question: “Many say that adopting the gold standard would dramatically reduce the power of central bankers and political leaders to steer the economy. If you knew that returning to the gold standard really would […]

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Glenn Beck’s Favorite Gold Company Charged With Fraud

Glenn Beck’s Favorite Gold Company Charged With Fraud No surprises here. Some of us were pointing out the odd business model in 2008. Their discussion of inflation and gold was so ridiculous that it stood out as ridiculous on Beck’s show.

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economics Uncategorized

Gold is not an investment, it’s a speculation

Investments are made by evaluating underlying value. Speculative bets are made by looking at the price of something and simply hoping the price goes up. Investing is about value; gambling is about price. Gold has no real underlying value. I know there is a market for it. I know it is real, just like real […]

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Economic conservatism as a religion

But beyond the specific facts, it’s the logical structure of the argument that’s insane. Economic growth is a key predicate for an expansive welfare stare. So it’s completely true that if you just started throwing out the key institutional features of modern market economies that you’d strangle big government. But you’d be strangling big government […]

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economics Uncategorized

Goldbugs of the world unite

Georgia State Rep. Bobby Franklin ® has just introduced a bill in the state legislature mandating that Georgia only accept taxes in gold coins. From Bridge to the 19th Century Feh, coins? Big government would be minting them. Payments should be in gold nuggets with private firms weighing and certifying them.

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economics Uncategorized

Goldbugs of the world unite

Georgia State Rep. Bobby Franklin ® has just introduced a bill in the state legislature mandating that Georgia only accept taxes in gold coins. From Bridge to the 19th Century Feh, coins? Big government would be minting them. Payments should be in gold nuggets with private firms weighing and certifying them.