Shrink the State. End the Fed. Balance the budget. Make a profit. Leave an inheritance.
Gary North
The figure for first-time jobless claims — unemployment insurance claims — jumped to 360,000 last week. Anything above 350,000 is considered poor job growth. The figure had been below 330,000 the week before. The trend had been down. There were lots of stories on “happy days are here again.” Then, without warning, the figure wiped [...]
Continue reading →Bitcoin has been promoted as digital money, an alternative to fiat money. The company’s owner’s will now get to test their theory. Their fiat money just got frozen by the federal government. The Feds seized Bitcoin’s bank account. Everyone with any understanding of the U.S. government knew that something like this would happen. Maybe the [...]
Continue reading →Greece has a 60% unemployment rate for people in the 18-25 age bracket. Think of this. This is a generation that is unlikely ever to save their career plans out of the recession that has overtaken Greece and is getting worse. It will mar them for the rest of their lives. The experts said this [...]
Continue reading →The Chinese currency, which is rigged, has risen 1% against the dollar this year. If it were not rigged, it would have risen far more. The Chinese central bank inflates. The Federal Reserve inflates. The Bank of Japan inflates. The European Central Bank inflates, the Bank of England inflates, the Reserve Bank of Australia inflates. [...]
Continue reading →Latest reports indicate that foreigners hold 52% of marketable U.S. Treasury debt. Most of this is held by foreign central banks. Treasuries pay almost no interest. But foreign central banks have plenty of money. They create it out of nothing. Then they buy U.S. Treasury debt. Because of this, the U.S. dollar is the world’s [...]
Continue reading →Gary North’s Reality Check Recently, I wrote an article in which I argued that there are three political foundations of modern warfare: high graduated tax rates, a central bank, and the abolition of the gold coin standard. I called it “The Triumvirate of Modern Warfare.” From the day that Ron Paul was sworn in as [...]
Continue reading →Three factors have made possible the modern world’s wars: graduated taxation, the central bank, and the abolition of the gold coin standard. The relationship between central banking and war has been known for at least 400 years. The ability of the Dutch Republic to wage what was in effect a revolutionary war against the Spanish [...]
Continue reading →The FHA is almost out of money, so the federal government is going to tax or borrow almost a billion dollars, so that the subsidies can continue. You wouldn’t want a free market in housing would you? You would not want supply and demand to set the price of homes, would you? Of course not. [...]
Continue reading →I have been writing about this for almost 40 years. America’s currency is used mostly outside the USA. Currency withdrawn from the U.S. banking system that is not re-deposited shrinks the M1 money supply. It reverses the fractional reserve process. It shrinks the money supply. At the 1974 Austrian scholars’ conference held at South Royalton, [...]
Continue reading →In a dozen states, there are bills to make gold legal tender. Nothing much will come of this. First, the concept of legal tender is anti-free market. A state should not declare anything as legal tender. It should limit itself to declaring the proper currency for the payment of taxes. Second, most of these bills [...]
Continue reading →