Classical Economics in a Quantum World
George Gilder sent me a pre-publication draft of The Bitcoin Standard by Saifedean Ammous. We exchanged many emails on the topic of Bitcoin and cryptocurrency. This is Part II of my reply to George after reviewing The Bitcoin Standard. *…
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George Gilder’s new book, Life After Google, is out today. In October 2017 George sent me a draft of Saifedean Ammous’ book, The Bitcoin Standard. I was excited to read Saifedean’s draft because Bitcoin offers tremendous promise. I quickly realized that…
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Since the September 2011 decline in the price of gold from $1900 to $1050, gold watchers continue to suffer from post-traumatic gold decline syndrome, PTGDS. If the POG can fall from $1900 to $1050, it can just as easily fall from…
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Academia has abandoned any serious interest in understanding a gold standard. Going back to Amsterdam in the late 1600s, there is a 300-year history of successful implementation of gold standards among developed countries. Data is available to study the result of…
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To understand gold requires first recognizing its proper orientation. Gold is unlike any other commodity, good, or service. Its value does not change. Its overwhelming purpose is as a monetary proxy. When viewing the monetary world, gold is at the…
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The misunderstanding of gold and the perpetuation of gold fallacies by academics, economists, and PhDs is easily explainable. Gold is the kryptonite to their errant economic theory. Gold signals the continuous error of the floating fiat PhD standard. Economists have to dismiss gold…
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“As long as excess reserves persist, with IOR, in amounts necessary to facilitate Federal Reserve control of the price of interest, the trend for the minimum price of gold is determinative by its average price over the duration of debt.”…
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The Shanghai International Energy Exchange, INE, began trading oil futures denominated in yuan, today, March 26, 2018. I wrote about the upcoming significance of this event in China, Gold, and the Dollar. The initial report was that yuan petro futures…
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Inflation and deflation are a basic component of economics. Yet, the Federal Reserve, which has monopoly control of the value of the dollar, admits that they “aren’t sure they understand how inflation works anymore.” That a currency must be stable…
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The Fed unleashed a coming market inflection with the onset of normalization. In our global fiat system, as long as the dollar remains the world’s reserve currency, the Fed forces global central banks to adopt its policy. A Fed balance…
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