bernanke

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Bitcoin: Segway, Cigarette, or Gold Doubloon?

The market has selected different things as money throughout history. Some of these items have served as money in isolated places for specific periods of time — for instance, cigarettes in prisoner-of-war camps. Cigarettes continue to be a currency in prisons if allowed, but if not, according to Wikipedia, “postage stamps have become a more …

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Sailor Tales From the Bitcoin Seas

As someone who only recently dived into the rocky Bitcoin waters — and discovered a world I had never imagined — I enjoy talking to others who have been there longer. There are some amazing stories out there. We are sitting here today with Bitcoin comfortably trading at 1 BTC to $134, and we take …

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Benny and the Monetary Jets

“My inflation record is the best of any Federal Reserve chairman in the postwar period,” said the great bearded one, a bit annoyed, responding to a question by Sen. Bob Corker. “We are not engaged in a currency war.” Ben Bernanke told lawmakers to forget that helicopter stuff they’ve been hearing about him, he’s the …

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What Is Bernanke Really Thinking?

Why a third round of quantitative easing? Sure, Ben Bernanke says that it is all about jobs and growth, as shown by various 60-year theories pushed by Lord Keynes. Really? Let’s get serious. This approach has done nothing over five years. It has prolonged the suffering. Another round virtually guarantees continued economic stagnation. QE is …

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The Great Monetary Debate

When National Public Radio airs a segment on the gold standard, you know that the debate over the quality of money has reached the point where it can no longer be ignored. Another sign came last month when Newt Gingrich, who has never shown the slightest interest in the cause of sound money, suddenly began …

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The Transformation of Banking

There is a scene in the Parable of the Talents in which the returned master berates the shabbiest of his three servants. Discovering that he had buried his seed capital in the ground, the master says: “You should have put my money on deposit with the bankers, so that when I returned I would have …

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Zero Percent Uber Alles

We are getting a sense of what life is like with the new Fed policy of openness. It means that the chairman tries to beat the world record for the longest, most-boring press conference in modern history. Ben Bernanke is getting even better at that crucial skill of repeatedly saying nothing at great length. The …

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