gold standard

When people talk about the recent sovereign debt crisis they make a lot of sweeping statements about debt and currency which allow them to make false analogies. This does us all a disservice because it creates a false impression about the…

Frederick Sheehan is the author of Panderer to Power: The Untold Story of How Alan Greenspan Enriched Wall Street and Left a Legacy of Recession (McGraw-Hill, 2009). Federal Reserve Chairman Ben S. Bernanke delivered a much-anticipated…

By Paul Brodsky and Lee Quaintance of QB Partners (Hat tip Barry Ritholtz) • Deflation • Quantitative Easing (QE2 & QE3) • A nod to Christopher Hitchens • The G7 financial system must deleverage to regain a semblance…

Hugh Hendry opines on strategy, George Soros and the euro. He believes the euro "is finished" for many of the same reasons I worry about the euro zone – namely that it acts like a deflationary gold standard for euro zone members.…

By Annaly Capital Management. What is a dollar? As far as we can tell, there is no legal definition of what it is, no statement that begins, “The dollar is…” Instead, the dollar is something that is defined by other things. When the…

The following is a post by Marshall Auerback, who also writes at New Deal 2.0. We’ve persistently taken the view that there is no economic doctrine, no magic number, which would imply a firm external constraint as far as public…

The following is an excerpt from Murray Rothbard’s excellent book, “A History of Money and Banking in the United States.”  The passage outlines how the gold standard prevented governments from using inflation as a device to manipulate…