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What are the main causes for the rise and subsequent fall of the price of Gold from the time when Nixon cancelled the Bretton Woods agreement to the time the Gold bubble popped in 1980 at over $850/oz? I can understand why it would go up once Nixon cancelled the Bretton Woods agreement and went to a...
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There must be people on here that are aware of Roy Jastram's fascinating work "The Golden Constant". Its a book sized piece on the gold/commodity ratio from 1580 until 1976. Its a great read if you know about Mises' theory on the interest rate and the Gibson's paradox observation...
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According to the Consumer Price Index, inflation is at about 3%/year . Gold is up 24% this year. Oil is up over 50% in 12 months. Assuming that the supply of gold is not violatile, shouldn't these be roughly similar? What is the actual inflation rate?
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i have recently designed the following course for my own use: rigourous introductory study centers around rothbard's 'man, economy, and state', via robert murphy's accompanying study guide as an auxillary map, and with mises' 'human action', 'theory of money and credit'...
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Some plans I've seen for a return to sound money involve totalling the gold held by the government and dividing it by the number of FRN dollars outsanding in order to find the value of the specie-backed dollar. I have a few questions about this: 1) Does the Federal Reserve own gold? Or does only...
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Currency, by definition, is never "hard;" people keep the hard money and spend the least hard. However, the problem is easy if there is a federal system: the central government is mandated to coin both gold and silver coins, the several States adopt one or the other. If someone finds a reef...
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Hey everyone, figured I'd contibute a little something to the forum here with my first post... I was just wondering as to what every one else thinks about the fallacious reasons typically given for inflation and why it is that everyone buys into those concepts rather than accepting the logically...