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Greenspan on Gold: Shuck and Jive

Written by Gary North on February 18, 2017

greenspan

“When our friends get elected, they aren’t our friends any more.” — M. Stanton Evans My deceased friend Stan Evans became deservedly famous for this law of politics. This law applies to high-level appointments. Back in the days when I was starting out in my career, Alan Greenspan wrote an article for Ayn Rand’s Objectivist […]

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How Blind Is Paul Krugman? This Blind!

Written by Gary North on November 5, 2016

krugman

“The basic point is that the recession of 2001 wasn’t a typical postwar slump, brought on when an inflation-fighting Fed raises interest rates and easily ended by a snapback in housing and consumer spending when the Fed brings rates back down again. This was a prewar-style recession, a morning after brought on by irrational exuberance. […]

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Keynes: Crackpot Economist of ZIRP

Written by Gary North on September 3, 2016

ZIRP

John Maynard Keynes was a crackpot. So are his followers. All of them. I can hear the shocked response. “But, Dr. North, you’re not supposed to say such things. It’s not polite. It shows a lack of etiquette. People who say such things are themselves dismissed as crackpots.” To which I respond: “Dismissed by whom?” […]

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Racial Quotas on the Federal Reserve — I Love It!

Written by Gary North on May 14, 2016

fed-board

America is a racial/gender quota society. It has been for half a century. Any organization — except for churches (so far) — whose leadership does not reflect the racial and gender distribution is suspect. In fact, it may be in violation of federal law. Well, it turns out that the Federal Reserve System does not […]

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When Money Fails

Written by Gary North on April 23, 2016

hyperinflation

Money seldom fails, but occasionally, it does. It failed in Germany and Austria 1921-23. It failed in Hungary after World War II. It failed in Zimbabwe in 2008-9, when the rest of the world was in a recession. Here is a famous case of the failure of money: And there was no bread in all […]

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Monetary Reform: Fiat vs. Market

Written by Gary North on April 16, 2016

free-market

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 […]

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Economic Inequality Is Not Increasing. Propaganda Is.

Written by Gary North on April 9, 2016

ParetoPyramid

It never ends. We are besieged by articles on today’s increasing economic inequality. These articles have three things in common: 1. Each one has a favorite explanation/boogeyman. 2. Each one calls for political reforms to make things more equal. 3. Each one fails to mention Pareto’s 20/80 law. Here is the main problem with these […]

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