Birth Of The Debt Culture
Posted April 26, 2011
Once US dollars ceased to be convertible into gold at the beginning of the 1970s, there was no longer any constraint on the amount of
Category Archives: Economics in the Age of Fiat Money
A New Economic Paradigm
Posted April 19, 2011
Since the 1980s, a culture of debt has arisen in the United States. That change was the consequence of a misguided trade policy that gave
BERNANKE’S CHOICE
Posted March 21, 2011
For twelve years the US trade deficit financed the US budget deficit and held down US interest rates. From 1996 to 2008, the US trade
Why Won't Bernanke Come Clean on Glut?
Posted March 9, 2011
Perhaps the greatest mystery in the world of finance and economics is why Fed Chairman Ben Bernanke refuses to acknowledge that paper money creation by
Currency Manipulators Created $7 Trillion, Causing The Global Economic Bubble
Posted February 12, 2011
The single most important development affecting the global economy over the past decade has been the creation of $7 trillion worth of paper money by
Debt-Financed Trade Caused The New Depression
Posted February 5, 2011
The United States trade deficit hit $2 million A MINUTE in 2006. That was the rate ($800 billion that year) at which the US was
What Every American Needs To Understand About The Economy
Posted January 19, 2011
As the United States debates its economic future in light of large government budget deficits, it is important that the public has a clear understanding
Economics In The Age Of Paper Money
Posted January 6, 2011
“Irredeemable paper money has almost invariably proved a curse to the country employing it.” So wrote America’s greatest economist, Irving Fisher, in 1911. Sixty years
Economics In The Age Of Paper Money
Posted November 26, 2010
The economic ecosystem, laissez-faire and exogenous shocks. Globalization and the collapse in the cost of labor Three kinds of Inflation Why Interest Rates are zero: