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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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Let Americans Buy the Government’s Gold at $42.22 per Ounce

Written by Gary North on September 26, 2015

american-eagle-coins

Everybody has a scheme for reducing the federal deficit. Here is my plan. Because the present value of the unfunded liabilities of Social Security and Medicare is now in excess of $200 trillion, there is nothing relevant that could be done by the federal government to increase revenues sufficient to avoid the great default. In […]

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Silver Shortage? No, Says Perth Mint

Posted on August 22, 2015

silver-planchets

BULLION BARS AND COINS Internet chatter about a looming shortage of silver should be treated with a healthy dose of skepticism. As we’ve seen recently, this conversation tends to surface whenever one or more of the world’s major mints announce they’ve sold out of silver bullion coins because of a spike in demand. The hype […]

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Gold Bullion Demand Surges

Posted on August 1, 2015

gold-bullion

Perth Mint sees surge in demand and cannot keep up with demand. – “Our biggest restriction is the amount of unrefined gold we’re getting in from producers” – Very high demand for Perth Mint coins, bars coming from Asia, U.S. and Europe – U.S. Mint sees highest sales of gold coins in over 2 years […]

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When It’s “Greece Time” in America

Posted on July 4, 2015

jared-dillan

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 […]

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Game-Changer: Texas State Gold Depository

Posted on June 2, 2015

gold-vault

This is from Franklin Sanders, the precious metals dealer in Tennessee. * * * * * * * * * * * * * * * * * * * * * *I read this bill establishing a Texas state precious metals depository a few nights ago and it has everything. I talked to a […]

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Free Market Money vs. FED and Greenbacks

Written by Robert Murphy on March 12, 2015

greenbacks-and-gold

For more than a century, skeptics of government power have rightly focused on the damage caused by interventions in money. As the market’s classic commodity monies have been displaced by unbacked State-issued paper, libertarians — particularly those versed in Austrian economics — have disparaged fiat currencies and championed commodity-based money, especially gold and silver. Unfortunately, […]

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Central Banks Bought Gold in 2014. Did You?

Written by Gary North on February 13, 2015

central-bank-gold

Gold is a barbarous relic, Keynes famously said. Keynesian economists repeat this . . . until they become central bankers. Then, it’s a different story. Governments added 477.2 metric tons to their reserves [in 2014], the second-biggest increase in 50 years and 17 percent more than a year earlier, the World Gold Council said in […]

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