Interesting video from Mises about America’s Gilded Age, during which the nation experienced its fastest period of growth. A gold standard was in place during most of this remarkable period, and of course there was no income tax.
Nice overview of the history of money, and why the Fed has such a negative impact on the economy. From the Mises Institute.
My favorite parts: Gingrich on Libya, Romney on everything.
When nothing seems to help, I go and look at a stonecutter hammering away at his rock, perhaps a hundred times without as much as a crack showing in it. Yet at the hundred and first blow it will split in two, and I know it was not that blow that did it, but all that had gone before.
Jacob Riis
Gold had another up day with stocks, as it was ‘risk on’ with renewed hopes for fresh infusions of liquidity as we saw from the Bank of England.
I tended to view this action as more ‘technical’ than fundamental.
I don’t like the headline correlation between stocks and the metals like gold and silver which would normally function as a safe haven in a time of increased risk.
Notice the new lines of broad support and resistance levels on the gold chart. We have not yet broken to the upside, so caution is advised.
Guest post from Jesse’s Cafe, Oct 6 2011. Re-published with permission. Visit Jesse’s blog here.
