Criminal defense in Austin Texas.

There is no safe store of value.

| February 8, 2009

Alan Greenspan (1966): In the absence of the gold standard, there is no way to protect savings from confiscation through inflation. There is no safe store of value… The financial policy of the welfare state requires that there be no way for the owners of wealth to protect themselves. This is the shabby secret of […]

Inflation is Always and Everywhere a Monetary Phenomenon

| February 8, 2009

“I have never found the familiar statement that inflation is everywhere and at all times a monetary phenomenon to be a very edifying one: for the price level is the inverse of the purchasing power of money, so that by the same token one can say that the price of potatoes is a potato phenomenon.” […]

What’s Happening Next?

| February 8, 2009

Bloggers and other pundits are pretty sure we’re about to experience crippling deflation, or hyper-inflation, but they’re not sure which. According to the Quantity Theory of Money, the actions of the Fed, and of the US Treasury, ought to create a huge amount of inflation. As a visual aid, this chart represents the total borrowing […]