A thesis submitted September 3, 2012 by Keith Weiner to the Graduate Faculty of the New Austrian School of Economics, in partial fulfillment of the requirements for the degree of Doctor of Philosophy. Major Subject: Monetary Science. Abstract A free market is composed of people who produce and trade the products of their efforts in […]
I have worked to keep this piece readable, and as brief as possible. My grave diagnosis demands the evidence and reasoning to support it. One cannot explain the collapse of this currency with the conventional view. “They will print money to infinity,” may be popular but it’s not accurate. The coming destruction has nothing to […]
The old joke is, “(with a Russian accent) In America, you correct newspaper, but in Soviet Union, newspaper corrects you.” Switzerland is now experiencing the bond market equivalent. In America, the government pays you to borrow but in Switzerland you pay the government. All Swiss bonds have a negative yield out to 9 years. Negative […]
I proposed seven drivers of financial implosion in my dissertation. My recent writing has focused on two of them. One is the falling rate of interest on the 10-year government bond. As interest falls, the burden of debt rises. Since the falling rate incentivized more and more people to borrow, the number of indebted people, […]
The United States, and every country, is subject to a monetary authority and legal tender laws. Here in the U.S. we have the Federal Reserve, a central bank that plans money and credit. The Fed thought they had perfected their planning (but of course it cannot be perfected). They thought they had ended the boom […]
Let’s take a look at a few graphs of the dollar, from Feb 1, 2013 through Friday May 17, 2013. Yes, I said graphs of the dollar. I’ve priced the dollar in gold first (of course), then silver, the euro, and even the yen. The pattern is obvious. The dollar is going up. I did […]
In the United States, there are once again TV commercials advertising Adjustable Rate Mortgages (ARMs) for residential real estate. Today, I saw one from Quicken Loans promoted with the tagline “why pay more in interest charges now just to know what rate you will have in 2018?” (they are offering a 7-year “teaser” rate and […]
There is an old erroneous view of fractional reserve banking. “Naturally, all fractionally reserved banks are de facto insolvent at all times…” The Acting Man blog is usually very good, but it published an article by Pater Tenebrarum containing this comment (http://www.acting-man.com/?p=6781). If there is a weakness in Austrian School thinking surely fractional reserve banking […]
I gave this talk at the Chicago Objectivist Society MiniCon Sep 4, 2011. Here is the full set of 9 videos on youtube for my presentation plus Q&A at the end, posted on this site to archive the links. Irredeemable currency vs gold – 1_9 introduction.wmv Irredeemable currency vs gold – 2_9 the origin of […]
