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Why Sound Money Does Not Need a Central Bank, Only the Rule of Law
The money that all nations use today is composed either of reserves created by a central bank and/or credit money created by banks via fractional reserve banking. In the first case, a central bank can...
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The Real EU aim in Brexit Talks
From today’s Open Europe news summary: German MEP says EU wants to punish UK in Brexit talks Writing in The Times, German MEP Hans-Olaf Henkel argues that the European Parliament Brexit negotiator, Guy...
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Free the Arctic!
From the Sunday, August 27th New York Times: Russian Tanker Completes Arctic Passage Without Aid of Icebreakers A new Russian tanker with a reinforced hull has cut shipping time from Europe to Asia by...
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My letter to Trains Magazine re: $10 billion in wasted capital
October 3, 2017 Trains Magazine P.O. Box 1612 Waukesa, WI 5317-1612 Re: “Time Is Up”, by Bob Johnston (October 2017 edition) Dear Sirs: In response to Mr. Johnston’s article about the real...
View ArticleDisgust at the LBJ Library
Recently my wife and I spent a morning at the Lyndon Baines Johnson Presidential Library in Austin, Texas. The damage done by this big bully is incalculable. His library reminds us of the start of the...
View ArticleThe Economic Benefits of Ending the Fraud of Fractional Reserve Banking
Fractional reserve banking (FRB) is fraudulent. It should be prosecuted as a crime rather than accepted as normal practice under current banking laws. Any society that respects property rights and the...
View ArticleBastiat and the Hubble Space Telescope
A few days ago my wife and I watched a fascinating program on PBS. The long running Nova series featured the history and accomplishments of the Hubble Space Telescope. The program was titled Invisible...
View ArticleCan an Economy Advance Without Savings?
According to Frank Decker, Honorary Associate at the University of Sydney Law School, it certainly can. Not only that, but eschewing savings in favor of “monetisation of assets” will yield better...
View ArticleThe EU elite are ignorant of the true meaning and importance of “comparative...
From Open Europe news summary of 14 March 2018 (my highlight): Commenting on Prime Minister Theresa May’s Mansion House speech earlier this month, the EU’s chief Brexit negotiator Michel Barnier called...
View ArticleUnilateral Free Trade Would Benefit All UK Citizens
From today’s Open Europe news summary: Removing tariffs post-Brexit could see prices fall up to 1.2%, suggests new study According to a report by the Institute of Fiscal Studies, UK households could...
View ArticleThe market provides its own punishment for irrelevant discrimination
My letter to the Mercatus Center: Re: Should hot workers subsidize ugly ones? Excellent points by Omar Ahmad Al-Ubaydli, but aren’t all forms of irrelevant discrimination self-correcting and...
View ArticleChina’s Currency Manipulation Does NOT Harm Its Trading Partners
Americans are being told that China’s currency manipulations are causing harm to its trading partners, America being the main victim. Nothing could be further from the truth. China’s currency...
View ArticleUnderstanding Economic Theory Is Essential for Understanding the Benefits of...
In a recent post I explained that China’s manipulations of its own currency hurt only herself and not her trading partners and, therefore, retaliatory tariffs were not warranted and would be...
View ArticleMy letter to the NY Times re: Typical Keynesian Whitewash
Dear Sirs: Fareed Zakaria’s review of the Adam Tooze book Crashed: How a Decade of Financial Crises Changed the World is a typical Keynesian whitewash of a deeply flawed monetary and regulatory system....
View ArticleEU to the UK: We will not allow you to sell our citizens superior goods at...
From today’s Open Europe news summary: Ireland demands level playing field in any Brexit deal Speaking at a meeting of the European People’s Party (EPP) in Helsinki yesterday, the Irish Taoiseach,...
View ArticleMy letter to the NY Times: No Nation Can Harm Another Through Trade
Navarro tells Wall Street to stay out of trade talks There is nothing that another nation can do to harm another through trade. If a nation foolishly chooses to manipulate its currency to spur...
View ArticleA friend asks why there were no more Paul Volckers at the Fed
Dear XXXXX, You ask, where is a Volcker-like Fed chairman today? The answer is that no president would appoint one and no government really wants one! Governments want easy money and will appoint only...
View ArticleMy letter to the NY Times re: How to Eliminate Scandals Over Subsidies
Re: Scandal Around Billionaire Prime Minister Leaves Czechs in Limbo Dear Sirs: I have a sure fire way not only to minimize but completely eliminate scandals over government subsidies. Eliminate the...
View ArticleThe Truth About Central Banks
Most of the world takes it for granted that central banks are necessary for the smooth conduct of trade, both foreign and domestic. Nothing could be further from the truth. Let’s be clear. Central...
View ArticleMy letter to the NY Times re: Increasing the Minimum Wage Will Increase...
Re: Dollars on the Margin by Matthew Desmond Dears Sirs: Has Mr. Desmond, author of “Dollars on the Margin”, never heard of the “Marginal Productivity of Labor”? How about the “Laws of Supply and...
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