Analysis Austrian business cycle theory explains that the “bust” phase of that cycle is created by extension of the cheap and plentiful credit by a fractional reserve banking (FRB) system. A FRB system is inherently fragile during the bust phase as its leverage (lending as a percentage of its...
Why in the world has JP Morgan accumulated more than 55 million ounces of physical silver? Since early 2012, JP Morgan’s stockpile has grown from less than 5 million ounces of physical silver to more than 55 million ounces of physical silver. Clearly, someone over at JP Morgan is...
"ONLY PHYSICAL gold and silver meet the criterion of "money," as PROVEN by the fact that EVERY fiat currency in history has collapsed...." Andy Hoffman The Daily Bell is pleased to present this exclusive interview with Andy Hoffman. Introduction: Andrew ("Andy") Hoffman, CFA joined Miles Franklin as marketing director in...
When credit is too much of a good thing ... What does credit do after it has finished the job it was designed for? The supply of credit ought to stop at funding productive activity. But the reality is different. Surplus credit fuels dangerous asset price inflation and funds...
Did you know that 77 million Americans have unpaid debts that are "in collections" and that Congress is actually thinking about letting post offices offer payday loans? We live in a country where almost everyone is drowning in debt and where most people are either flat broke or very...
Barack Obama and the Federal Reserve are lying to you. The "economic recovery" that we all keep hearing about is mostly just a mirage. The percentage of Americans that are employed has barely budged since the depths of the last recession, the labor force participation rate is at a...
In the midst of this year’s chaotic campaign for the presidency, few things have been clear or predictable. However, when Christian conservatives are asked about the issues that matter most, some of that ambiguity gets eliminated. Seven issues were listed by at least one out of every seven survey...
At the annual meeting of the American Economic Association in San Diego (January 4–6, 2013), Harvard professor of economics Benjamin Friedman said, The standard models we teach ... simply have no room in them for what most of the world's central banks have done in response to the crisis. Friedman...
Last week, as most Americans were celebrating the holidays with family and friends, the Obama Administration announced plans to seek yet another debt ceiling increase in the New Year. While some fiscal conservatives will try to block this increase, their efforts are designed to fail thanks...