Comments (11)

• Comprimise

  Might want to fix the graphic. There's a typo of the word compromise on #4.

  Published: March 31, 2009 3:54 PM

• ehmoran

  We've got more PROBLEMS than a GOLD STANDARD!

  I understand that the International Monetary Fund (IMF) soon will oversee and regulate activities of the U.S. Treasury, SEC, and Federal Reserve.

  The World's Money Changers will be FULLY backed by all Governments with this action.

  GOOD JOB to all those that VOTED for:
  "CHAINS WE CAN BELIEVE IN".

  They've stuck their feet in it now, and since they've included the rest of us in it, truly we're all in this together, and THANKS.

  Unbelievable MESS were in now.......

  Published: March 31, 2009 3:55 PM

• Jason

  What is the difference if the IMF regulates the markets than if the Feds here in the states regulate business here? More of the same.

  Published: March 31, 2009 4:27 PM

• Mises Saves

  @ehmoran
  I wouldn't worry about global government too much. Mises already proved that socialism cannot calculate. Any attempt at global government will eventually collapse once the free market can no longer support the incompetence.

  Published: March 31, 2009 5:09 PM

• ehmoran

  Mises Saves,

  That must be WHY the EU is now chanting: "America, Don't go Socialist".

  Guess they realize without the so-called Free Market of America, the rest of the World would actually have to do something for themselves now?

  Amazing, the statement: "Sometimes what you wish for and get is not what you really WANTED".

  Hey, all you SOCIALISTS, Liberals, and Far-Left Loons,

  "GOOD LUCK WITH THAT, HOPE EVERYTHING WORKS OUT FOR YA".

  Published: March 31, 2009 5:24 PM

• Telpeurion

  Mises was a liberal, ehmoran. =]

  Published: March 31, 2009 11:18 PM

• ehmoran

  Telpeurion, "Mises was a liberal"

  Well I guess he must have woke up and realized the errs of his ways? Cause I like his philosophy, limited Govt, no central banks, money value based on some commodity, etc.......

  Published: March 31, 2009 11:37 PM

• ehmoran

  Telpeurion, "Mises was a liberal"

  Missed something, he was an old style Liberal as considered during the early 1900's. Not a modern day Liberal as considered in the 21st century........

  Published: March 31, 2009 11:40 PM

• Dozier

  Perhaps the author should have made it more clear that Kennedy introduced the Equalization Act in 1963 rather than say he imposed it in 1964 after he had met his demise.
  I did enjoy the article.

  Published: March 31, 2009 11:54 PM

• ehmoran

  FYI

  "When business in the United States underwent a mild contraction in 1927, the Federal Reserve created more paper reserves in the hope of forestalling any possible bank reserve shortage. More disastrous, however, was the Federal Reserve's attempt to assist Great Britain who had been losing gold to us because the Bank of England refused to allow interest rates to rise when market forces dictated (it was politically unpalatable). The reasoning of the authorities involved was as follows: if the Federal Reserve pumped excessive paper reserves into American banks, interest rates in the United States would fall to a level comparable with those in Great Britain; this would act to stop Britain's gold loss and avoid the political embarrassment of having to raise interest rates. The "Fed" succeeded; it stopped the gold loss, but it nearly destroyed the economies of the world, in the process. The excess credit which the Fed pumped into the economy spilled over into the stock market-triggering a fantastic speculative boom. Belatedly, Federal Reserve officials attempted to sop up the excess reserves and finally succeeded in braking the boom. But it was too late: by 1929 the speculative imbalances had become so overwhelming that the attempt precipitated a sharp retrenching and a consequent demoralizing of business confidence. As a result, the American economy collapsed. Great Britain fared even worse, and rather than absorb the full consequences of her previous folly, she abandoned the gold standard completely in 1931, tearing asunder what remained of the fabric of confidence and inducing a world-wide series of bank failures. The world economies plunged into the Great Depression of the 1930's".

  Greenspan (1966)

  Published: April 4, 2009 5:04 PM

• oyunlar

  Great news, thanks Scott!

  Published: April 6, 2009 6:58 AM