Tag Archives: napoleon bonaparte
The Hidden Engine of Booms and Busts
Imagine walking up to a bank counter, handing over a heavy leather pouch of fine silver coins, and receiving a simple piece of paper in return. That paper isn’t a promise that the bank hopes to honor if nobody panics. It isn’t tied to a liability for a complex loan scheme. It is a 100 percent backed warehouse receipt. Continue reading
Posted in Inflation, MN Gordon
Tagged bank of hamburg, kevin warsh, napoleon bonaparte, receipt money, reichsthaler standard
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One Bear Market from Disaster
“Past performance is not indicative of future results,” goes the hackneyed investment disclaimer. No doubt, this warning’s been repeated so often no investor gives pause to consider it. Perhaps now, six years into a bull market, is a critical moment … Continue reading
