Michael Rozeff

Contributor since: 26 Feb 2010

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• When Is Fractional-Reserve Banking Inflationary?

  Published 30 August 2012 | viewed 0 times

  The takeaway here is that fractional-reserve banking is not inflationary per se. Fractional-reserve banking is inflationary when combined with central banks with unconstrained fiat money…

• Ben and QE3

  Published 06 February 2012 | viewed 0 times

  Ben, if you and the other members of the FRB are thinking of the factors that I shall mention, then you are likely not to…

• Constructive Steps Toward Free Markets in Currency

  Published 17 July 2011 | viewed 0 times

  Economically, it's not hard for America to transition to free markets in currency without disrupting the economy. I already outlined steps in Chapter 13 of…

• Our 'Money' Is Credit

  Published 12 July 2011 | viewed 0 times

  We call such things as dollar bills and demand deposits "money". But existing "money" is not Money at all. It is credit. The term Money…

• Gold, Goodwill, and Growth

  Published 08 June 2010 | viewed 0 times

  A correspondent suggested to me an idea about government balance sheet goodwill that's worth sharing. That led me to a few further thoughts about gold…

• Gold's Value and Government Balance Sheets

  Published 07 June 2010 | viewed 0 times

  Sometimes people ask me about valuing gold by taking into account the assets that a government owns, like land, bridges, and highways. Maybe they are…

• Gold's Fundamental Value

  Published 05 June 2010 | viewed 0 times

  The estimate of gold's fundamental value reported in this article won't be much different from earlier estimates of mine or others. What's new here is…

• The Bigger They Are

  Published 11 May 2010 | viewed 0 times

  Once again the leaders of the western world have engineered a bailout Who pays for it? We hicks and dupes and taxpayers. Once again the…

• Central Bankers Dream of Decoupling

  Published 08 May 2010 | viewed 0 times

  It begins with government fiat. Money is mostly electronic. It is mostly "e". It is mostly a series of 0s and 1s in memory banks.…

• The Fiat Money End Game

  Published 05 May 2010 | viewed 0 times

  Jim Sinclair has a slogan "QE to infinity." That's "Quantitative Easing to infinity." That's inflation to infinity. That's the case for gold and silver in…

• Differences Between Lehman Bros. and the U.S. Government

  Published 17 March 2010 | viewed 1,237 times

  The report of Anton R. Valukas, Examiner, in the bankruptcy case of Lehman Brothers is out, and it provides much food for thought, of which…

• Will China Buy the IMF Gold?

  Published 13 March 2010 | viewed 2,974 times

  I assign a low probability to China buying gold from the IMF near or even 10-15 percent below current prices. All opinions in this article…

• Sticker Shock

  Published 10 March 2010 | viewed 3,046 times

  The U.S. Senate is close to passing a new spending package after a preliminary 66 to 34 vote. It is called the AMERICAN WORKERS, STATE…

• The FED Won't Deflate or Even Seriously Disinflate

  Published 07 March 2010 | viewed 3,343 times

  The FED, in my opinion, is a price taker in the security markets. While its control over the interest rate in the inter-bank market for…

• Nightmare Macroeconomics

  Published 14 February 2010 | viewed 5,487 times

  An incubus weighs us down - a nightmare. It is the macroeconomics of smart (high IQ) macroeconomists who have been miseducated into economic ignorance, usually…

• Obama's Latest Push - Neither New Nor Helpful

  Published 28 January 2010 | viewed 2,561 times

  The central issue that faces the American political economy, and which has ramifications for investing in American stocks, is whether it can set itself on…

• Can America Come Through with Wealth Creation and Good Jobs?

  Published 23 January 2010 | viewed 3,576 times

  A correspondent not versed in economics admitted to being confused over consumerism vs. saving. He thinks that it is good for the economy that people…

• Can America Produce Genuine Long-Term Growth?

  Published 03 January 2010 | viewed 3,455 times

  Genuine means authentic which means "conforming to fact and therefore worthy of belief and trust" (as the thesaurus says), and the antonym is counterfeit, false,…