Sampson – The Currency under the Act of 1844
The more financial history one reads, the more powerful the sense of deja vu becomes and also the greater grows the appreciation of the…
Bagehot’s REAL opinion
We all know the cliché about how to deal with panics – viz., ‘lend freely at a penalty rate’ – and the fact that…
Exorbitant Privilege & Unlearned Lessons
Pace those who have made such a big deal out of Chairman Bernanke’s November 19th speech, but it is hard to find anything therein…
Dear Uncle Sam: the Director’s Cut
Dear Uncle Sam, My mother told me to send thank-you notes promptly. I’ve been remiss, but you know, with my firm’s revenues up 30%…
Ebeling: A Return to the Gold Standard?
A good article by Richard M. Ebeling: As Martin Wolf correctly observed, historically a primary advantage of a gold standard was that it removed…
Dissent in the Ranks
Amid all the polemic it has inspired, perhaps the best summing up of current US policy was the verdict delivered by Germany’s famously irascible…
Richard Fisher: A Bridge to Fiscal Sanity?
Of course, he’s a captive of Keynesian mainstream thinking, but this is, nonetheless, a fairly clear-headed assessment of what ails America as well as…
The Death of Money
So the Bernanke Fed has finally launched its next great economic experiment, undertaking to buy some $600 billion in US Treasuries over the next…
CNBC: China to Hike Rates Again Soon?
My latest CNBC interview: The Chinese will have to “come back to the party again pretty soon” and raise interest rates in the face…
Inflated Expectations
Having thus far given his platform almost exclusively over to a Moody’s-mollifying PR campaign regarding ‘austerity’, British PM David Cameron this week decided that…