Shrink the State. End the Fed. Balance the budget. Make a profit. Leave an inheritance.
Gary North
Written by Gary North on April 16, 2016
What is fiat money? It comes from “fiat,” which means a formal authorization or proposition or a decree. Synonyms are these: edict, order, command, commandment, injunction, proclamation, mandate, dictum, diktat. It is an arbitrary order. The phrase “fiat lux” comes from Genesis 1:2: “Let there be light.” Fiat money is the money issued by a […]
Continue reading →Written by Gary North on March 5, 2016
Written by Gary North on February 13, 2016
For [the kingdom of heaven] is as a man traveling into a far country, [who] called his own servants, and delivered unto them his goods. And unto one he gave five talents, to another two, and to another one; to every man he gave according to ability, and straightaway took his journey. Then he that […]
Continue reading →Written by Gary North on January 30, 2016
Every January, the richest people in the world get together to meet at Davos, Switzerland, at the world economic forum. Also present are the best and the brightest in the Keynesian community, whose plane fares and hotel rooms are taken care of. These are the hired hands. Every year, everyone hopes he is going to […]
Continue reading →Written by Gary North on January 16, 2016
Click the link to see graphics of the world’s markets, from the smallest (bitcoin) to the largest (derivatives). When you are finished, ask this: “How could the Federal Reserve System deal with a meltdown in either of the final two markets?”
Continue reading →Written by Gary North on January 9, 2016
Because of the nature of the economics profession–“guild” might be a better word–it is necessary to put quotation marks around the words, “honest money.” Economists will go to almost any lengths to avoid the use of moral terms when they discuss economic issues. This has been true since the seventeenth century, when early mercantilistic pamphlet […]
Continue reading →Written by Gary North on January 2, 2016
The speculator who made millions by shorting the subprime mortgage market says another crisis is now in the pipeline. You may have seen the movie, The Big Short. It’s gong to happen again. The big bank bankers did not learn the lesson Congress wanted them to learn. Why should we expect them to? They skunked […]
Continue reading →Written by Gary North on December 19, 2015
Ry Cooder has gotten to the point musically for 50 years. Here, he gets to the point economically. To understand how this happened, watch this.
Continue reading →Posted on July 4, 2015
By Jared Dillian I was watching the 6 o’clock news and saw images of closed banks in Greece and people lined up at ATMs. I’m sure you did, too. This must seem surreal to most people because it seems so remote. But put yourself in these people’s shoes for a second. You have money in […]
Continue reading →Posted on June 6, 2015
by David Stockman It is hard to believe that in these allegedly enlightened times this question even needs to be asked. Are there really educated adults who believe that by dropping helicopter money conjured from thin air, the central bank can actually make society wealthier? Well, yes there are. They spread this lunacy from the […]
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