Have nothing to do with the [evil] things that people do, things that belong to the darkness. Instead, bring them out to the light... [For] when all things are brought out into the light, then their true nature is clearly revealed...

-Ephesians 5:11-13

Tag Archives: Currency

Hyperinflation Imminent in Venezuela From Socialist Reforms

This article appeared online at TheNewAmerican.com on Friday, September 4, 2015:  

Estimates that price inflation in Venezuela is running between 10 and 20 percent a month are too low if one looks at the black market there. By putting price controls on essentials such as personal care items and medicines, President Nicolas Madura (pictured), a protégé of Marxist Hugo Chávez, Venezuela’s previous president, has guaranteed at least two things: shortages and rationing. A healthy but very expensive black market has sprung up to meet consumer needs for items such as chickens, medicines, and toilet paper.

In that black, or free, market, Venezuelan women were shocked to find that the price of tampons and other sanitary supplies jumped

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Trump Calls Drop in Chinese Currency “Devastating”

This article appeared online at TheNewAmerican.com on Wednesday, August 12, 2015:  

In an interview at CNN, Republican presidential candidate and billionaire businessman Donald Trump was aghast at the decision by China’s central bank to allow the country’s currency to more closely reflect its real value by letting it drop by more than two percent:

They’re destroying us! They keep devaluing their currency until they get it right. They doing a big cut in the yuan, and that’s going to be devastating for us.

This was echoed by Thomas Gibson, head of the American Iron and Steel Institute: “Our government must address the massive damage that China’s undervalued currency is causing to our nation’s manufacturing sector, especially the steel industry.”

Trump failed to make clear exactly who “us” is. By allowing the yuan to be valued daily as the market deems it, rather than having it arbitrarily pegged loosely to the value of the dollar, every consumer at Walmart is going shortly to see a sign in their window:

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Greek Vote the Death Knell for the EU?

This article was published by The McAlvany Intelligence Advisor on Wednesday, July 8, 2015:  

English: Nigel Farage at Lord's cricket ground...

Nigel Farage

Nigel Farage, named “Briton of the Year” in 2014 by the London Times, has finally found his voice. He noisily departed the Conservative Party in 1992 after the signing of the treaty that created the European Union to start his own UK Independence Party (UKIP). His criticism of the EU has been steady ever since, culminating in his eulogy on Monday: “The European Union is Dying Before our Eyes.”

According to Farage, Sunday’s referendum in Greece sealed its death warrant, even if somehow the Greek PM Alexis Tsipras is able to come to terms with the troika and have them turn on the financial spigot once again: “It [was] a crushing defeat for those Eurocrats who believe that you can simply bulldoze public opinion.” He added,

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Swiss Bank Referendum Fails, Franc Drops

This article first appeared online at TheNewAmerican.com on Thursday, December 4, 2014:

Banknotes of the Swiss franc

Banknotes of the Swiss franc

The Swiss voted down the initiative “Save Our Swiss Gold” on Sunday, November 30, by a margin of three to one, rejecting efforts to shore up the Swiss National Bank’s (SNB) balance sheet. Switzerland, a direct democracy, entertains an average of five such referendums every year, and most of them fail. This initiative would have required the SNB to boost its gold bullion holdings from its current eight percent level to 20 percent over the next five years. It would also have required the central bank to repatriate its foreign-held gold reserves, while prohibiting it from ever selling any of those reserves in the future.

When first proposed, speculators bought the Swiss franc cheap, hoping to sell it dear if the initiative passed. Investors in gold were holding their breaths as well, noting that

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Article in CFR Magazine: Give Away Money to Stimulate Economy

This article first appeared at TheNewAmerican.com on Thursday, August 28, 2014:

 

Los Angeles Police Department (LAPD) Bell 206 ...

Mark Blythe, a professor at Brown University, and Eric Lonergan, a hedge fund manager living in London, have conjured the ultimate solution to a stagnant economy: Central banks should give away free money.

These two authors of a lengthy and allegedly erudite article in the September/October 2014 issue of Foreign Affairs, published by the Council on Foreign Relations (CFR), appear to be living in an alternate universe, as their suggestion, if it were fully implemented, would push the world’s economy back to the Dark Ages.

The article, entitled “Print Less but Transfer More: Why Central Banks Should Give Money Directly to the People,” rests on the false assumption that

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Federal Reserve Notes Soon to Become Irrelevant in Oklahoma

This article first appeared at The McAlvany Intelligence Advisor on Monday, June 9, 2014:

 

Republic of Hawaii Banknote for 20 gold dollar...

Republic of Hawaii Banknote for 20 gold dollars, 1895. (Photo credit: Wikipedia)

Something that the lamestream media missed entirely happened on Wednesday, June 4, in Oklahoma: the governor signed into law a bill affirming what is already guaranteed to each state in the US Constitution: that gold and silver coin are legal tender. Historians looking back may recall that day as the day the Federal Reserve’s hegemony over money ended.

Article I, Section 10, the U.S. Constitution states simply that

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Oklahoma is the next state to Affirm gold and silver as Legal Tender

1907 Double Eagle, Liberty Head, Obverse

1907 Double Eagle, Liberty Head, Obverse (Photo credit: Wikipedia)

On Wednesday, June 4, Oklahoma joined Utah, Texas and Louisiana in affirming that gold and silver coins are (as they always have been under the Constitution) legal tender in the payment of debts in the state. On the surface this seems almost silly: affirming a right that already exists in Article I, Section 10 of the U.S. Constitution. But it is much more than that.

 

Senate Bill 862 which Oklahoma Governor Mary Fallin signed into law this week says:

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Argentina’s economy is cratering, again

While Wall Street declined by 3 percent over global growth concerns last week, few were noting or even interested in the 11 percent decline in the Merval, Argentina’s stock market index. It hit a high of 5,970 on Tuesday, January 21, the day before the Argentina government devalued its currency, and closed at 5,337 on Monday. The peso itself has been in decline far longer, having lost nearly

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Controversial Harvard Professors predict high inflation and defaults for the US

The two Harvard professors who made themselves famous, and then infamous, are at it again, now predicting that America will soon be forced to

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The US economy is vastly larger than we know

This article first appeared at The McAlvany Intelligence Advisor on Wednesday, December 4th, 2013:

For the past 25 years, Austrian school economist Mark Skousen, nephew of W. Cleon Skousen (author of The 5000 Year Leap), has been trying to get the Bureau of Economic Analysis (BEA) to count the rest of the economy that the GDP doesn’t measure. In April, the BEA will start reporting the GO

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As Bitcoin prices increase so do concerns

With the price of a single Bitcoin exploding by 4000% just since January and by 400% in the last month, concerns about its legitimacy as a viable internet money that could effectively serve as an alternative to central banks’ currencies are increasing.

The Bitcoin has morphed from an internet algorithm to legitimacy beginning in August when

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The Bitcoin and Paris Hilton

This article first appeared in The McAlvany Intelligence Advisor on Wednesday, November 27th, 2013: 

 

In a dismissive article in The New York Times on Monday, the author quoted a Bitcoin skeptic who predicted: “In a matter of months you won’t be hearing about it. It will go the same way of Paris Hilton.” He failed to follow the old rule: keep your words sweet and tender because someday

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The Feds are trying to regulate the Bitcoin – good luck

Senators attending this week’s hearing entitled “Beyond Silk Road: Potential Risks, Threats and Promises of Virtual Currencies” being held by the Senate Homeland Security and Governmental Affairs Committee already knew what they were going to hear: the Securities and Exchange Commission (SEC) was going to make the case that

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House Bill Offered to Study “Real World” Effects of Fed Policy

In anticipation of the upcoming 100th anniversary of the Federal Reserve on December 23rd, House member Kevin Brady (R-Texas) and Chairman of the House’s Joint Economic Committee, decided back in March to offer a bill to create a commission to

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Federal Court Rules that the Bitcoin is Money

When the Securities and Exchange Commission (SEC) charged that Trendon Shavers, the founder of Bitcoin Savings and Trust (BTCST) was running a Ponzi scheme, Shavers challenged the agency by claiming that bitcoins didn’t fall under their definition of securities and so therefore he and his company were exempt from SEC rules. Federal Judge Amos Mazzant ruled otherwise, which was bad news for Shavers but good news for

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Central Banks’ bubble is bursting, sending markets down worldwide

When the Japanese stock market lost more than 6 percent of its value on Wednesday in a massive selloff, pundits jumped on the move to try to explain what happened, and what it all means. Evan Lucas, a market strategist at IG Markets, wrote:

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Pro-Euro German Finance Minister Now Having Second Thoughts?

This, at least, is the gist of the headline from the AP: “German who helped start euro now calls for its end.” The AP article that backed it up was just four paragraphs long and led me to think: this guy has awakened to reality! He’s been converted to free market principles! Hallelujah!

Even Ambrose Evans-Pritchard, the conservative writer for the liberal Telegraph, seemed to buy the line, saying

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The Modern German Economic Model is a Myth

Dessau, a small and steadily shrinking town in the German state of Saxony-Anhalt in what used to be East Germany, is doing the best it can. Ten years after the fall of the Berlin Wall the anticipated “miracle” enjoyed by West Germany following World War II failed to materialize for Dessau and so it is in the process of

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Cyprus Parliament Stalls, Giving Rich Russians Time to Extract Their Funds

This story from Marketwatch fails to mention this. Rich Russians who don’t trust Mother Russia to keep their funds safe have stashed $19 billion in Cyprus banks. Let’s see: 10 percent of $19 billion is…

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Britain enters third recession in four years

You would think that politicians and central bankers would learn from their mistakes, wouldn’t you? They would learn that if something doesn’t work then try something else (or try doing nothing, instead!). But no, despite warnings from Moody’s (I wrote about their downgrade of Great Britain on Monday here), which is simply a rear-view mirror of what’s already happened and their very late recognition of their faltering economy, they continue to

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Many of the articles on Light from the Right first appeared on either The New American or the McAlvany Intelligence Advisor.
Copyright © 2021 Bob Adelmann