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Greek Voters Stick It to the Eurozone Good and Hard

Written by Gary North on January 26, 2015

Greek voters have elected a Marxist political party. The party ran on this slogan: “Spend, spend, spend.” It is a popular slogan. The party will start ramping up the welfare dole. It’s Keynesian welfarism forever! But where will it get the money? There are two ways: (1) default on the government’s debt to large European […]

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What’s RIGHT With the Euro

Written by Gary North on October 11, 2014

You read that right. Right. I think like an economist. The economist always thinks in terms of alternatives. The economist’s mindset was expressed clearly by the late comedian, Henny Youngman. “How’s your wife?” “Compared to what?” One of the most common complaints against the eurozone is this one: “The eurozone is a central currency, but […]

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Illegal Marijuana Market Goes to Pot

Written by Gary North on May 27, 2014

Pot growers in Mexico are going bankrupt. Prices have fallen 75%. Why? It has been legalized in two states: Colorado and Washington. The price of pot has fallen 75%. This is basic economics. Competition drives down prices. But how? How does all that legal pot in two states get to other states? By car. Someone […]

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Crimea Crisis Cools Off, Stocks Begin to Rally

Posted on March 4, 2014

Russia’s ruble rebounded from a record low while stock-index futures in the U.S. and Europe advanced after a report that President Vladimir Putin had ordered troops back to bases after military exercises concluded amid tensions in Ukraine’s Crimea region. Gold fell with oil. The ruble strengthened 0.7 percent against the dollar at 7:23 a.m. in […]

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Bitcoins Go Splat.

Written by Gary North on December 18, 2013

Bitcoins have just suffered another huge hit. The other shoe has just fallen. Bitcoins were selling at $1,242 on November 29. The headlines were all over the Web: “Bitcoins surpass the price of gold.” That was the peak. They are around $500 today. That is a decline of 60%. When an investment fad ends, it […]

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42nd Anniversary: The Day Nixon Killed the Gold Standard

Written by Gary North on August 15, 2013

It was 42 years ago today, on a Sunday, that President Richard Nixon went on television and announced to the American people that he was closing the gold window the next day, and imposing full-scale price and wage controls on the American economy. He signed an executive order. Congress had nothing to say about it, […]

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Endless Silly Rumors About the FED’s Exit Plan

Written by Gary North on May 29, 2013

I read this in an article about the decline in the U.S. dollar-denominated value of the Australian dollar. “That decision plus growing talk that the U.S. Federal Reserve is close to a decision to start unwinding economic stimulus, has seen the Australian dollar fall by more than 6% since the start of May.” Bernanke’s FED […]

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Currency War: You Lose, Exporters Win

Written by Gary North on February 15, 2013

A currency war is in progress. Central banks are inflating. This lowers the value of their currency. Then other central banks inflate. “We will win the war of currency debasement!” Who wins? Exporters. Who loses? Consumers. When a nation’s currency increases in value compared to others, its consumers can buy foreign goods cheaper. This is […]

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