by RHH | Nov 24, 2016 | Essays
“All paper money eventually returns to its intrinsic value — zero.” Voltaire (1729) ” Permit me to issue and control the money of a nation, and I care not who makes its laws.” Mayer Amschel Rothschild (1744-1812, attributed) “Most...
by RHH | Jul 25, 2013 | Essays
This sequel to The Golden Sextant offers an updated approach for a gold-based reform of the international monetary system. As used in the title, “GPS” refers to the Gold Positioning System proposed below. Gold and to a lesser extent silver have served as...
by RKL | Jan 6, 2010 | Essays
Welcoming the world’s central bankers to their annual summer conclave at Jackson Hole, Wyoming, last week, Fed chairman Alan Greenspan delivered a remarkable speech. In unusually clear language, he acknowledged the existence of a bubble in the financial markets,...
by RKL | Oct 16, 2007 | Essays
Much have I traveled in the realms of gold, And many goodly states and kingdoms seen. –John Keats, On First Looking into Chapman’s Homer The world changed on Wednesday, June 20, 2007. This was the day when Merrill Lynch, as creditor, attempted to auction...
by RKL | Nov 12, 2005 | Essays
The ghastly images of destruction and chaos streaming out of areas hit by Hurricanes Katrina and Rita held a grim fascination for gold bugs. And why not: what a mother lode of potent metaphor. The hurricanes as a black swan, the long-feared non-linear event that may...
by RHH | Jul 13, 2005 | Essays
(RHH Commentary, August 13, 2001) Due in no small measure to articles he wrote as a young economist, especially his 1966 essay “Gold and Economic Freedom” (reprinted in A. Rand, Capitalism: The Unknown Ideal, available online at...
