News
Contra Ben Bernanke, the Gold Standard Promotes Economic Stability
Currently the world is on a fiat money standard—a government-issued currency that is not backed by a commodity such as gold. The fiat standard is the primary cause behind the present economic instability, and is tempted to suggest that a gold standard would reduce instability.
Bolivian Central Bank Wants To Become Sole Buyer of Gold
The Central Bank of Bolivia (BCB) has proposed a law that would effectively make it the sole purchaser of gold produced within the country. The central bank’s proposal would also allow it to use gold reserves as collateral or swap them for foreign currency, local newspaper El Deber has reported.
How Governments Expropriate Wealth with Inflation and Taxes | Daniel Lacalle
In an interview with the Wall Street Journal, Treasury secretary Janet Yellen admitted that the chain of stimulus plans implemented by the US administration helped create the problem of inflation.
Why Government Anti-Inflation Plans Fail: Lacalle
Governments love inflation. It is a hidden tax on everyone and a transfer of wealth from bank deposits and real wages to indebted governments that collect more receipts via higher indirect taxes and devalue their debts. That is why we cannot expect governments to take decisive action on inflation.