And Another Thing – This “The US Dollar Must Have Intrinsic Value, Or Else” Argument is Absolute Nonsense

At least once per day I hear the ridiculous argument that we need to get back on the gold standard, because gold has “value” and that would give the US dollar “value”. In other words, the US dollar is worthless and needs intrinsic value before it can be valid “money”. No, it does not. That[…]

A Few Words Concerning the Ubiquitous Term, “Printing Money”

For one reason or another, which to this day baffles me, some of my colleagues have allowed the term “printing money” to go unchallenged. Because so many abuse and misuse the term when referring to how the federal government spends, it’s as if some are quite content to just let orthodoxy have its way and[…]

Brief Notes for Wednesday Morning, 20.07.2016

Vacation is still ongoing, ending on Friday. Therefore, this explains the family pictures and political jabs on Facebook and the lack of economics content. Today, in brief, I’ll explain what QE is and the “purpose” behind it. The term QE, or “Quantitative Easing” was coined by Richard Werner, with whom I’ve had the great misfortune[…]

Brief Notes for Tuesday Morning, 19.07.2016

First, on my list is this persistent “wasted vote” nonsense spewing from Hillary supporters. “A vote for Jill Stein is a vote for Trump!” Irretrievable nonsense. Neoliberals within the Un-Democratic Party will say anything, childishly “bullying” progressives into supporting that vile, neoliberal, economic illiterate Hillary Clinton. So, let’s be clear: 1. a vote for Jill[…]