Browsing All posts tagged under »debt«

What’s Wrong with Issuing $2,000,000,000,000 in Platinum Coins?

July 17, 2011 by


By Neil Paynter Our editor-in-chief recently had a bit of Twitter repartee with Joseph Firestone, who has a notion for the US Mint to issue coins to cover the budget deficit. You can read it here. While technically a legal and mechanically achievable notion, it is nevertheless a terrible idea. Why? Because of the great […]

The Biggest Bank Run in History

March 17, 2011 by


Image via Run Red Hot. As more information comes out of Japan, it is becoming increasingly clear the country has a very serious emergency on its hands. At time of writing, many nuclear reactors are in the process melting down, with two apparently undergoing uncontrollable melt-downs. This is on top of the wider destruction wreaked […]

Boycott the Banks

March 11, 2011 by


Originally published on Not to grind an axe terribly hard, but many of the ills of the modern world can be laid at the feet of banks. The video featured on the front page of this website gives an excellent overview of why this is so. It also makes a case which, I think, […]

Phantom Risk in Libya; or, how the US government is Insane

February 21, 2011 by


News has just come out of Fitch Ratings: Libya has had its credit rating dropped from BBB to BBB-minus. For those who don’t speak central banker, this means that Libya’s debt is now considered soggy used newsprint, instead of the far superior soggy unused newsprint. They’ve also warned that if the Libyans don’t start to […]