Death Star Economics



Gold standard, question mark?

The Republican Party is in the process of setting up a “gold commission” to monitor the Fed’s monetary policy decisions and revive the link between the dollar and gold. Excuse me, says you. Indeed, says I. It looks a lot like areturn to the gold standard. Thanks, Ron Paul. And it’s getting better:

The proposal is reminiscent of the Gold Commission created by former president Ronal Reagan in 1981, 10 years after Richard Nixon broke the link between gold and the dollar during the 1971 oil crisis.

And of course nobody has thought about this:

Inflation has remained under control in recent years, despite claims that expansion of the Fed’s balance sheet would lead to runaway price rises, while gold has been highly volatileThe price of the metal is up by more than 500 per cent in dollar terms over the past decade. 

Somebody add an economic history book ( to that order of biology books that is being sent to Florida. read article

Glenn Maud, formerly of the real estate investment firm Propinvest, which entered into administration in November 2011, now has his expenses watched by the Royal Court of Guernsey. Indeed, the poor man who owns windows and door frames of Canary Wharf’s Citi Tower and Santander’s Madrid headquarters, is now required to keep his living expenses under £500 a week. As a journalist, I sympathize. Plus, hookers are expensive. There’s nothing worse then running out of £100 notes on a fucking Tuesday morning.

Propinvest’s Gemini portfolio, which holds 35 commercial real estate assets, is currently worth £437.5m with almost £1bn of loans attached to them. read article

The Greek Prime Minister Antonis Samaras is on the road in Western Europe: he is meeting Merkel today, Hollande tomorrow, and the day after that the queen’s child comes in. Both Merkel and Hollande, who previously had next to nothing in common, agree that Greece has to stay committed to the bailout terms and conditions. That’s really not too crazy a thing to ask. read article

Or as ZeroHedge put it:

Merkel Says Greek Acts Must Follow Promises. Is she insane? This. Is. EUROPE!

Weekend reading:

– just a chart: the price of a polar bear

– following the unforgettable fight of the century: Keynes vs Hayek, Alphaville brings us Hayek vs Randread article

– Elisabeth Murdoch’s criticism of News Corp, preparations for an awkward Thanksgiving, read article

– “Don’t be fooled by short-selling bans” by MC Gillian Tett, read article

Have a good one and don’t forget that Monday is a bank holiday.


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