Archive for Gold
Learn the Views of Mises on Money and Banking!
Admit it: You’ve had that copy of The Theory of Money & Credit on your shelf since October 2008. When TARP went through, you thought the end was near, and you needed to go back to the ancient texts to get guidance through the storm. But then Mises started talking about “credit money” and you […]
Read moreMurphy Smackdown: DeLong on Mises
I am going to do a full write-up for Mises.org once I get my day job under control, but those of you who have been following DeLong’s assaults on Mises might be interested in his latest post. For the context, DeLong hasn’t been able to figure out why Mises says printing paper money won’t fix […]
Read moreAggregate Demanders Once Again Hit Below the Belt
In the same spirit as Scott Sumner’s “if we eventually get high inflation, it will probably be due to tight money over the past few years,” I must also call the referee’s attention to this throwaway line from Krugman. After reminding readers that the Obama stimulus was in no way a “test” of actual Keynesian […]
Read moreFiat Money and the Euro Crisis
My article today at Mises: Lost in all the analysis of the theory of “optimal currency area,” the possibilities for a structured default, the consequences of a collapse of the euro, etc., are two simple questions: Why does the behavior of the Greek government have anything to do with taxpayers in Germany? Why did the […]
Read moreMeeting My Brothers and Sisters in Slovakia
Due to an email introduction that frequent commenter Brian Shelley made a while back, over the past few days I have been staying in Slovakia with Jozef Abrman, a missionary working with a Christian church in Trencin, Slovakia. Jozef holds a lecture series in which he brings in Christians from all over the world who […]
Read moreMarkets More Complicated Than Keynesians Or Austrians Said
I’m having trouble getting real-time quotes, since I’m now in Slovakia and Google keeps “helping” by switching to some weirdo site. But assuming the trends are the same today as they were yesterday, gold is getting crushed, while both nominal and TIPS Treasury yields are down too. On the face of it, that means neither […]
Read moreTaking On Krugman’s Latest Theory About Gold Prices
For those who follow these things, you know that in the past few weeks the “mystery” of soaring gold prices has apparently been solved by Paul Krugman. Far from signaling that some investors are worried about the fate of the USD, Krugman thinks soaring gold prices are the natural reaction to low real interest rates. […]
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