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Today: Tue, October 21 2014  -  Last modified: April, 26 2007
 Economy
10 April 2013
 
 
Bitcoin for Beginners - Part 2
by Jeffrey A. Tucker
 sub-topic» Gold Standard

But what about a government crackdown? No doubt that attempt will be made. Already, government agencies are expressing some degree of annoyance at what could be. But governments havenít been able to control the cash economy. It would be infinitely more difficult to control a virtual currency with no central bank, with encryption, and with millions of users per day. Controlling that would be unthinkable.

 more» 
09 April 2013
 
 
Bitcoin for Beginners - Part 1
by Jeffrey A. Tucker
 sub-topic» Gold Standard

Clearly government paper was failing. A digital alternative had to exist. But what gave Bitcoin its value? There were several factors. It was not fixed to any existing currency, so it could float according to human valuation. It was made from real stuff: the very 1s and 0s that were driving forward the global market economy. And while 1s and 0s can be reproduced unto infinity, the new coins could not, thanks to a system in which the coin and its public key were strictly controlled and the ledger updated for every transaction. Its soundness could be checked constantly through instantaneous conversion to other currencies as well as to goods and services. The model seemed impenetrable, the first digital currency that really addressed all the problems that had doomed previous attempts.

 more» 
25 November 2012
 
 
Beyond fiat currencies
by Madsen Pirie
 sub-topic» Gold Standard

There's a new way to by-pass fiat currencies that governments can debase. From Euro Pacific Bank come two new cards, one gold and one silver. Instead of drawing from your cash reserves held in sterling or dollars or whatever, or of spending on credit and paying the bills in such currencies, these cards draw on bullion. You own gold and silver in a vault, and what you spend is converted into bullion and drawn from your stock:

 more» 
11 November 2012
 
 
Money is a spontaneous order not a social contrivance
by Robert P. Murphy
 sub-topic» Gold Standard

This isnít even about fiat money per se. Even if weíre talking about gold, once it becomes used as a medium of exchange, it achieves an exchange value higher than what it had in direct exchange, precisely because of its new role. In other words, the demand to hold gold goes up, once it acquires a monetary demand in addition to its industrial/consumption demand.

 more» 
17 April 2012
 
 
Let's give the Fed some competition
by John Stossel
 sub-topic» Gold Standard

Pssst. Want to buy some Stossels? They're my own currency with my face on them.

Why should you trust them?

Because I promise to redeem them for gold. And I'm reliable. I have money in the bank and a job that brings in more than I spend.

 more»