When Will Free Markets Emerge?

By George Smith – Re-Blogged From http://www.Silver-Phoenix500.com

If someone asked you to define “free market,” could you?  Could you do it on the spot without recourse to dictionaries or other crutches?

There’s an old tale about the origin of the term “laissez-faire” that gets to my point.  Here’s the write-up in Wikipedia:

The term laissez faire likely originated in a meeting that took place around 1681 between powerful French Comptroller-General of Finances Jean-Baptiste Colbert and a group of French businessmen headed by M. Le Gendre. When the eager mercantilist minister asked how the French state could be of service to the merchants and help promote their commerce, Le Gendre replied simply “Laissez-nous faire” (“Leave it to us” or “Let us do [it],” the French verb not having to take an object).

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Gold Coin Dilemma, Politics and Nonsense

By Gary Christenson – Re-Blogged From Sprott Money

There are five identical bags of gold, and each contains ten gold coins. However, one of the five bags contains fake gold. The real gold, fake gold, and five bags appear identical, except the coins of fake gold each weigh 1.1 ounces, and the real gold coins each weigh 1 ounce. You have an accurate digital scale and CAN USE IT ONLY ONCE.

How do you determine which bag contains the fake gold?

(Thanks to my friend Brian C. for sending me this dilemma.)

There is a straight-forward answer to this question, but let’s speculate on what happens when we involve politics and prejudice.

The Gold Coin Dilemma, Politics and Nonsense - Gary Christenson

Trojan Horse Before Wall Street

By IM Vronsky – Re-Blogged From http://www.Gold-Eagle.com

The generally accepted definition of TROJAN HORSE (*) is a person or thing intended secretly to undermine or bring about the downfall of an enemy or opponent. In today’s world, the THE Trojan Horse is Bitcoin – manned by ‘geeks’ using the unbridled greed addiction to attract naïve, innocent and ignorant investors of Troy (i.e. Wall Street).

However, many worldwide recognized monetary mavens, pundits, gurus and experts have emerged to inform and alert the investing world to the eventual dire consequences of the phony currency labeled Bitcoin. Here following are just a few sage well supported views condemning the Bitcoin scourge.

broken bitcoin

 

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Back to Economic Basics

   By Bob Shapiro

My blog is about 2½ years old now, and I’ve had well over 30,000 views. Articles automatically also get posted onto my Facebook page, where a larger number of my friends see them; most of the comments show up on my Facebook page.

While I still write posts myself, the lion’s share are re-posts from friends around the world who write well on the issues which are important to me (hey, it’s my blog). Many times, I fall into the trap of forgetting that many (most?) readers have zero training (and less understanding) of the subjects I blog about.

Because so many people (Americans and not) have no real clue about the good that is Capitalism and the benefits that each person enjoys because of Capitalism, I’d like to go over a few basics. So, this is for the good people out there who say things like, “He can afford it,” and “He’s just greedy and only worrying about making a profit.”

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When the Black Market Becomes the Real Market

By Jeff Thomas – Re-Blogged From International Man

For many years, I’ve described black markets not as the evil danger to economies that governments profess them to be, but as predictable and sensible reactions to the overregulation of official markets.

Black markets appear whenever an official market has become overregulated or otherwise unworkable due to governmental interference. They then thrive in direct proportion to the failure of official markets to function freely. They are, in fact, both a barometer and a checks-and-balances system for official markets.

Back in 2008, I commented on the growth of the black market in Zimbabwe, as that country slid from inflation to hyperinflation. At that time, the people resorted to the use of other currencies (most notably the US dollar) as black market currency. The government, desperate to force their people into the dying Zim dollar, made it illegal to use the US dollar, but this hardly made a dent in the use of what was clearly a more stable currency. The ban on the US dollar only succeeded in driving it underground. Commerce did not grind to a halt, and money did not cease to change hands. The only real change was that the Zimbabwean government was taken out of the monetary loop.

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Protect Your Wealth from Hackers

By Stephan Gleason – Re-Blogged From Money Metals Exchange

Could your wealth be hacked? It’s a threat most investors overlook. But they do so at their own peril.

If elections can be hacked, then so can bank and brokerage accounts, as well as any online platforms for digital currencies.

More than five months into Donald Trump’s presidency, the “Russia hacked the election” conspiracy theories still won’t go away. They’re expanding to also implicate Russian hackers for meddling in elections in France and elsewhere. The latest Russian hacking story centers on Qatar.

Hackers

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