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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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The Free Market vs. Fraud

Written by Gary North on April 23, 2016

free-market

Charles Hugh Smith begins his essay on widespread fraud in the rhetorically correct way: by stating the truth in a list of short observations. This can’t be said politely: the entire status quo in America is a fraud. The financial system is a fraud. The political system is a fraud. National Defense is a fraud. […]

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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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The Free Market vs. Fraud

Written by Gary North on April 16, 2016

free-market2

Charles Hugh Smith begins his essay on widespread fraud in the rhetorically correct way: by stating the truth in a list of short observations. This can’t be said politely: the entire status quo in America is a fraud. The financial system is a fraud. The political system is a fraud. National Defense is a fraud. […]

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The Wealth of Nations

Written by Gary North on April 16, 2016

wealth-of-nations

Now these are the commandmets, the statutes, and the judgments, which the Lord your God commanded to teach you, that ye might do them in the land whither ye go to possess it: That thou mightest fear the Lord thy God, to keep all his statutes and his commandments, which I command thee, thou, and […]

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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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Haggling and Prices: Who Knew?

Written by Gary North on March 5, 2016

haggling

It is naught, it is naught, saith the buyer: but when he is gone his way, then he boasteth (Prov. 20:14). Long before the days of King Solomon, face-to-face bargainers were crying the blues to each other. “You can’t expect me to pay that much. Why, I’ve seen it for half that price in Damascus!” […]

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The Case for Ticket Scalping

Written by Gary North on March 5, 2016

scalping

Wrath is cruel, and anger is outrageous; but who is able to stand before envy? (Prov. 27:4). Envy. We do not use the word properly in our day. It is assumed to mean either jealousy or congratulations. “I really envy you,” the friend says as a way of offering congratulations. But friends do not envy […]

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Davos: The Intensive Care Unit of the New World Order

Written by Gary North on January 30, 2016

davos

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 […]

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