November 27, 2015—Remember the golden rule: He who has the gold makes the rules. Governments throughout history have tried to monopolize the issuance of money, accumulating hoards of gold and silver to spend on their […]
November 16, 2015—Today’s daily joke comes courtesy of Richmond Fed President Jeffrey Lacker, who according to Marketwatch stated at yesterday’s Cato Monetary Policy Conference that “History has demonstrated the gold standard is unworkable.” What he […]
December 20, 2014—I’d like to visit with you today about gold repatriation. We’ve heard a lot about this in the news, more every day. Now it’s Austria that’s thinking about demanding their gold back, and holding the gold themselves rather than the Federal Reserve and the various other places around the world. It more or less started with Germany a year or so ago, demanding their gold. They backed away and we don’t know exactly why. Maybe the Fed didn’t have the gold, but the Fed put them off for seven years. It looks like this made other countries a little bit nervous. Actually, Netherlands has already repatriated some of their gold, 130 tons of gold, which was done quietly.
Recently, in November, we saw the Swiss referendum, the people voting on whether or not to repatriate their gold. That referendum did not pass. As a matter of fact, the government and central banks terrified the citizens of Switzerland saying it would bring on an economic calamity, “You can’t do this.” That went down, but it also represents this notion that the people are starting to stir, wondering what’s going on in the monetary system, what’s going on in central banking, what’s going on with the gold, who owns the gold. We know that the very wealthy, the banks and the privilege class got bailed out in the crisis of seven years ago, and there are still a lot of problems that go on. And we still know there’s a lot of manipulation by our central banks, especially the most powerful central bank which is the Federal Reserve system. Because of that bank, our government gets to issue the reserve currency of the world….
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December 3, 2014—I’d like to make some comments about Switzerland regarding their gold and what they wanted. The referendum, as far as most people are concerned, was very negative for gold because the large majority—78 […]
September 14, 2014 – This edition of the weekly column explores an effort in Switzerland to give gold a more monetary role. Citizens of Switzerland are headed to the polls November 30th to vote on […]
September 6, 2014 – Fallout from dollar inflation is happening everywhere, and nothing demonstrates this more clearly than the upcoming Swiss vote to return to the gold standard. Couple this with Russia, China, and India […]
August 20, 2014 – Last week, the St. Louis Fed published a response by its Vice President, David Andolfatto, to the question “Why doesn’t the U.S. return to the gold standard so that the Fed […]
August 15, 2014 – A run on gold from foreign countries repatriating their dollars made it clear that there was a lack of faith in Nixon’s Keynesian policies. To stop this, Nixon refused to allow […]
August 6, 2014 – Following on my article from last week, I want to take some time to describe the perfect monetary system. Money, like any other economic good, is subject to the laws of […]
Whenever I hear the phrase “You can’t let the perfect be the enemy of the good,” I want to cringe. Almost every time you hear it, the person saying that is using it to justify […]