Lubos Motl , a bright young Czech physicist with a winning way with those he considers idiots*, has decided to cogitate on fiat money and the US`s screwed up monetary system, and proposes to peg the dollar to the Dow : You might think that I am going to defend the gold standard or something of this sort...
Speaking at the Asia-Europe summit Chinese Premier Wen Jiabao recently said , “The biggest responsibility is to stabilise the financial order as soon as possible. We need to use all available tools to prevent the crisis from harming real economies.” The Premier's comment is hardly in...
Jeffrey Tucker asks the above question on the main Mises blog , in a version of an article he posted earlier on InsideCatholic . The essay stirred a few thoughts by yours truly, including the following which I posted in the comment thread: Jeff, you're right that money does not taint everything,...
It was Albert Einstein who stated that the definition of insanity is "doing the same thing over and over again and expecting different results." After the FED's cutting of interest rates by three-quarters of a point today , those of us wary toward centralized banking and the socialization...
Banking system has not always been like it is now. This is perhaps no surprise. However the fact that it seems now to be more sophisticated does not necessarily signifies progress. In fact it’s something else. What do we really know about banks? In the previous part there has been considered an initial...
I had my trusty Nikon camera ready this morning after I made my latest donation to the Ron Paul campaign . I love that feature. Anyway, it is just sort of surreal for me to have an Austrian economist running a competitive campaign for President. I remember half a decade ago making Ron Paul for President...
Banking system has not always been like it is now. This is perhaps no surprise. However the fact that it seems now to be more sophisticated does not necessarily signifies progress. In fact it’s something else. What do we really know about banks? This article is also available in Spanish in the translation...