Classical Economics in a Quantum World
Understanding Gold 4 On August 15, 1971, Nixon, by executive order, broke the dollar-gold link that had anchored the Bretton Woods international monetary system since 1944. (The link was officially severed in February 1973.) This was the beginning of the…
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“Central banks are treading in uncharted waters. Sidney Homer and Richard Sylla, the authors of A History of Interest Rates found no instance of negative rates in 5,000 years. Now there are $11.7 trillion invested in negative-yield sovereign debt, including $7.9 trillion in Japanese…
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Despite its present day seeming omnipotent power, the Fed still retains only one significant economic lever.¹ This has been true since the Fed’s creation in 1913. The Fed can create base money or remove it. The Fed has complete, total…
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The monetary reference point is where debtors and creditors are in balance. There is no inflation or deflation and neither creditors or debtors benefit at the expense of the other. There is no risk penalty added to terms of trade…
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A strong and stable society requires a basic bond between government and its citizens. This is a foundational bond. A bond that cements trust between government and citizens, and allows for a sustained, beneficial return shared equally between each. This is…
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