Tyler Durden: “Arbitrage Is Dead” – Commodity Traders Lament A World “Where Everyone Knows Everything”

From zerohedge.com by Tyler Durden For commodity traders operating in the Information Age, Bloomberg reports that just good old trading doesn’t cut it anymore… “Everything is transparent, everybody knows everything and has access to information.” Unlike the stock market in which transactions are typically based on information that’s public, firms […]

Is This Bitcoin’s Fatal Flaw?

Published by John Rubino at Dollarcollapse.com on May 17, 2017 Bitcon has been rocketing higher lately, as it gains widespread official approval and more people figure out how to use it. As the first of its kind to emerge, bitcoin has become synonymous with “cryptocurrency”. But lately it’s been joined […]

Bylund: Entrepreneurship Can Fix Healthcare

By: Per Bylund After a highly publicized failure to repeal Obamacare in March, Republican leaders have repeatedly said the battle is not over. President Donald Trump continues to push lawmakers to negotiate changes to the 2010 healthcare law, though it’s not clear whether any legislation will have enough support to […]

An update on SGE Vault Withdrawals and SGE Price Premiums

Posted on 17 May 2017 by Ronan Manly at https://www.bullionstar.com/blogs/ronan-manly/update-sge-vault-withdrawals-price-premiums/ In 2016, withdrawals of gold from the Shanghai Gold Exchange totalled 1970 tonnes, the 4th highest annual total on record. This was 24% less than SGE gold withdrawals recorded in 2015, which reached a cumulative 2596 tonnes (See Koos Jansen’s […]

US Household Debt Rises to All-Time Highs

By: Ryan McMaken Following the 2008 financial crisis, many observers were surprised by how much many Americans began saving. From 2009 to 2012, total household debt fell considerably, dropping by more than 12 percent from 2008 to 2013.  According to the Wall Street Journal, that drop was described by Fed researchers […]

Balance Sheet Normalization, Or Not

By: C.Jay Engel Politicians, bureaucrats, and media talking heads specialize in saying one thing but meaning something else. In Fed world, something referred to as “balance sheet normalization” would be thought to be a return of balance sheet levels to pre-crisis numbers (roughly $850 billion). But common sense does not […]

Entrepreneurship’s Split-Personality Problem

By: Per Bylund Entrepreneurship as a higher education discipline has something of a split personality. Its roots are in practical instruction and business school curriculum operating as a trade or vocational school, supplying students with skills necessary to manage firms. In the world of entrepreneurship, this roughly equates to How […]

The World’s Central Banks Are Frozen with Fear

By: Ryan McMaken 2016 was supposed to be the year that the Federal Reserve “normalized” its policies. As much as two years ago — after years of a near-zero target rate — the Fed was swearing that it would begin to raise rates back to “normal” levels and cut its […]

New Gold Pool at the BIS Basle, Switzerland: Part 1

Posted at BullionStar.com on 16 May 2017 by Ronan Manly “In the Governor’s absence I attended the meeting in Zijlstra’s room in the BIS on the afternoon of Monday, 10th December to continue discussions about a possible gold pool. Emminger, de la Geniere, de Strycker, Leutwiler, Larre and Pohl were present.” […]

Karl Marx: The Economist’s Economist

By: Carmen Elena Dorob?? With the general election campaigns heating up in the UK, the two major parties are playing a game of duelling manifestos. The Conservatives are upholding a classic interventionist line of fixing energy prices and increasing the national living wage, but Labour has brought to the table […]

Marx: The Economist’s Economist

By: Carmen Elena Dorob?? With the general election campaigns heating up in the UK, the two major parties are playing a game of duelling manifestos. The Conservatives are upholding a classic interventionist line of fixing energy prices and increasing the national living wage, but Labour has brought to the table […]

The States Are Revolting Against the War on Drugs

By: Mark Thornton On the same day that Attorney General Jeff sessions announced that he would attempt to revamp the war on drugs, It came to my attention that potentially more important events regarding the war on drugs were taking place in Vermont, the “freedom and unity” state. It would […]

Economists Are Not Plumbers

By: Peter G. Klein The American Economic Review has published Esther Duflo’s Richart T. Ely Lecture, “The Economist as Plumber” (ungated version here, video version here). The essay summarizes Duflo’s vision of economics. First, economics is primarily useful as a policy tool; i.e., the main role of the economist is to advise […]

Inflation and Mercantilism in America: Five Cases

By: Murray N. Rothbard If inflation is the health of the State, how and in what way has government generated inflation in the history of the United States? The following case studies illustrate this process, as well as the important connection between inflation and centralized State control of the economy. […]

Public-Sector Unions Keep the Gravy Train Flowing to Fire Departments

By: Ryan McMaken Firefighting isn’t what it used to be. Thanks to fire suppression technology, structural fires are now very rate, and statistics show that firefighters rarely fight fires anymore. Mostly, firefighters respond to run-of-the-mill medical emergencies in fancy million-dollar trucks. Governing magazine lays out the change over time:  In 1980, according to the […]

Will We Finally See a Bitcoin ETF?

From Zachs Bitcoin is back on the table. After rejecting the filing for an ETF on this cryptocurrency by Winklevoss Bitcoin Trust, the SEC is reviewing its decision once again. The proposal actually involved listing the ETF on the Bats BZX exchange, one of the largest U.S. equities market operator […]

Ditch Net Neutrality Now

By: Chris Calton Anybody who has ever dealt with internet lag should realize that bandwidth is a finite resource. Like any other economically scarce commodity, the price and profit mechanisms of the market serve to direct the allocation of this resource as efficiently as possible. This is why people pay […]

Dismantle the FBI, and Give its Money Back to the States

By: Ryan McMaken With James Comey’s firing, we’re told the FBI is in turmoil, and Washington DC cocktail parties are all atwitter over the excitement of the scandal. But don’t worry about the FBI. If history has proved anything, the Bureau, no matter how much chaos it may endure, can always rely […]

Week In Review: May 13, 2017

By: Mises Institute This week we honored the legacy of F.A. Hayek, who would have turned 118 this week. While Hayek is no longer with us, his ideas live on. His skepticism of the intellectual elite, so seem increasingly prone to fall into the trap of scientism, is as prescient […]

Bob Murphy: Where Monetarism Goes Wrong

By: Robert P. Murphy, Jeff Deist The great Austrian economist Friedrich Hayek celebrated a birthday earlier this week, while the prominent monetarist (and Fed historian) Allan Meltzer passed away the same day. Joining us to discuss monetarism is our friend Bob Murphy, who lays out the central tenets of the […]