Russian Central Bank Surrenders: Inflates

Written by Gary North on January 30, 2015

russian-central-bank

Six weeks ago, I ran this headline: Russia: A Depression Draweth Nigh. The central bank of Russia had just hiked the interest rate to 17%. There was no question in my mind what would happen next. Now the economic blind men who make decisions at the Russian central bank have belatedly figured out that my […]

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Photos from North Korea

Written by Gary North on January 30, 2015

KHC

These photos are amazing. A tour guide shot them. They were legal. These are places where tourists are allowed to go. The people photographed are wealthy by North Korean standards — middle class by ours. What is unexpected is how Western they look. There is no question that “the good life” that comes to the […]

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Civilization and the Faculty Lounge

Written by Gary North on January 29, 2015

mises

Ludwig von Mises is one of my heroes. He abided by a fundamental principle in life: “Never give an inch.” It was often said by Chicago School economists and other non-Austrian economists that Mises was just too hard core. He was just too unbending. For an example of this criticism, watch this brief video, which […]

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Turning Off the NSA’s Water

Posted on January 29, 2015

utah-data-center

In eight states, legislators are pushing bills they hope will either boot National Security Agency facilities or ban the agency from setting up shop. The bills would prohibit state and local governments from offering material support to the agency, including use of public utilities that carry water and electricity. Two of the bills would criminalize […]

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“Audit the FED” Bill — Rand Paul

Posted on January 29, 2015

rand-paul

Republican Senator Rand Paul, a potential 2016 presidential candidate, on Wednesday re-introduced a bill that would expose the Federal Reserve’s monetary policy discussions and decisions to a congressional audit. The Kentucky senator’s move to re-introduce the bill, along with 30 co-sponsors, comes as Republican lawmakers and some Democrats increase their efforts to rein in the […]

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The Futility of ZIRP: Zero Interest Rate Policy

Posted on January 29, 2015

federal-funds-rate

By David Stockman The ZIRP market is completely dishonest and therefore deeply subsidized. And every Econ 101 student knows that when you deeply subsidize something, you get more and more of it. In essence, by clinging obstinately and mindlessly to ZIRP the Fed is just systematically juicing the gamblers, and thereby inflating ever greater mispricing […]

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Robot Hotel: Few Jobs for Humans

Posted on January 29, 2015

robot-hotel

A theme park near Nagasaki in southern Japan will open a smart hotel featuring female androids that greet guests, and robots that carry luggage and serve coffee. Henn-na Hotel at the Dutch-inspired Huis Ten Bosch theme park will be partly powered by solar panels and guests will have the option of using facial-recognition software instead […]

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Will China’s Yuan Replace the Dollar? Not a Chance.

Written by Gary North on January 28, 2015

yuan

In hard-money circles, we hear this story all the time: “China and Russia are creating a new world currency.” This is the dumbest story in hard-money circles. Really, it’s imbecilic. The people who argue this way are saying that a fiat currency run by Commie apparatchiks, when combined with a fiat currency run by ex-Commie […]

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A Rising Dollar Terrifies Keynesians

Written by Gary North on January 28, 2015

janet-yellen

The headline in the Financial Times blares this message: Strong dollar weighs on US results. Keynesians love soft dollars. They love price inflation. They love a boom caused by central bank inflation. The Federal Reserve stopped QE3 last year. It is no longer buying U.S. government debt, Fannie Mae debt, Freddy Mac debt, or anything […]

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