Category Archives: Government Debt

“The Bank Was Saved, and the People Were Ruined”

Posted on October 19, 2012 by MN Gordon

“The Bank Was Saved, and the People Were Ruined” By Jeff Thomas, International Man The above quote is from William Gouge, commenting on the Panic of 1819.  The panic had been caused when the First Bank of the United States … Continue reading →

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More Credit, More Debt: Lessons from the Last Great Unraveling

Posted on September 4, 2012 by MN Gordon

“The lord giveth increase, but man devised credit.”  — Garet Garrett Solving the Debt Problem with Credit Something quite remarkable happened in the years following the war to end all wars.  European economies were ruined and European governments were buried … Continue reading →

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Disgraceful and Insulting

Posted on August 7, 2012 by MN Gordon

New discoveries were made on the economic front last week.  The Labor Department reported that 163,000 jobs were added in July.  Yet even with the new jobs, the unemployment rate rose to 8.3 percent. “We’ve still got too many folks … Continue reading →

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A Valuable Lesson on Money Creation

Posted on July 24, 2012 by MN Gordon

“No, absolutely not,” answered European Central Bank (ECB) President, Mario Draghi on Saturday over croissants in Paris.  He was responding to a question from the French newspaper Le Monde, asking if the euro were in danger. There are numerous axioms … Continue reading →

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