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Hyperinflation: Are the Austrians Wrong?


Ever since the Housing Bubble of 2008 imploded, many Austrian economists, authors, and spokesmen have come out to announce that hyperinflation was just around the corner. The concerns of a hyperinflation scenario had much to do with the Federal Reserve’s policy of Quantitative Easing (QE). The Fed had exploded its balance sheet to unprecedented levels since the…

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The Scots and Gresham’s Law


The recent Scottish independence elections had raised certain hopes among libertarians and anarchists. Their desire to see a free and independent Scotland (and a smaller Great Britain) enraptured images of Mel Gibson playing “Braveheart” William Wallace and a proud people, once again donning their kilts and marching to the pipes, taking up the cause for…

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The Error of Pricing Goods in Gold


We’ve all heard experts, pundits and talk show hosts pontificating about gold and silver. We’ve heard examples of their so called “intrinsic” value, about how gold and silver retain their value over time. Aside from any intrinsic value, this is accurate, except when these people attempt to make price comparisons of goods in gold or…