MrSaemisch's channel

As Friedman says we must compare what is real to what is real. Central banking is mired in all sorts of problems but it is a far better alternative to the free banking of the 19th century in term of both lessening the pain of downswings and price stability.

@MrSaemisch What I actually find fascinating is the relationship between fiscal policy and monetary policy. Deficit spending is a way to expand the money supply, so during in response to a financial crisis it could actually do some good... I think Friedman would rather see things done completely...

@Lengarces Because he has done an incredible job. Unfortunately here in 2005 he was a political appointee in the Bush White House and could not speak freely.... Peter Schiff is in general a fool, but is actually right. But he has been "predicting" an economic collapse for every year for decades...

As an American, I definitely say that Thatcher's biggest accomplishment was sucessfully implementing monetarism to control inflation. The US was doing the same thing at the time. Here a Democrat was held of our central bank and he actually implemented the policy independent of President Reagan....

Can somebody please post the PSA withe the money supply jingle?

@mrgimp420 Actually, the solution is probably to have less than three kids...

Question for Dan: I really don't see a line between micro-economics and psychology. I find your work fascinating but I am not so sure it is wise to call in part of economic sciences because the public at large think that behavioral economics (what I think is just psychology) means that markets ...

@ITaukeiaho I agree. I am thinking about making a video to rebut Ron Paul...

Actually, most libertarians I have come across are intelligent white men who unfortunately did not have the discipline to realize their full potential by becoming educated....

This song is the better version, for no other reason than "forget you" is an extra syllable and goes a lot better with the melody...

@fiscalconservative76 No. The bimetallic standard that existed at the founding of the country set a 16:1 ratio for the respective quantities of gold and silver which constituted 1 dollar. This ratio was huge point of contention until the twentieth century! As for private mints, are you kidding...

@lamrof The federal reserve is the sole issuer of legal tender. The "owners" of the Fed are required by law to "buy" shares and receive a very small dividend on these non-marketable "securities." They get some input on appointing Fed governors, but most are still appointed by the President.

@MrSaemisch And only 1.6 was billion in "statutory dividends" as required by the Federal Reserve Act were paid to banks. So the banks therefore have about 26.6667 billion invested. But they are required by law to invest this money, so they can't sell or buy "shares." Getting six percent per an...

@markflorian138 Why don't you get rid of the Bank of Australia first. After your economy collapses and then talk to us about ending the fed.

What year was this made?

@piecharthosen Foolishness. You could have speculated on a whole number of other commodities and lost money. An education is an asset with tangible value, as long as it is in something like medicine, law, engineering ect... That will earn you millions over a lifetime...People who claim to have ...

If you claim every year that a financial collapse is eminent, then every 20 years you will be right. Doesn't make Schiff, who is an idiot who got lucky, a genius.

It is hard to figure out which one of these guys is dumber.

The central banks hold gold out of tradition, and because we used to be a gold standard. The Federal Reserve kept the gold after the closing of the gold window in 1971 because it is not at all obvious what we should do with it. Gold in no more money than chewing gum or any other commodity. Com...

@WingThaiJ Look, not dems or repubs can plan the economy. The recovery is occurring now, but it is slow. We rapid growth returns, it will not be because of low taxes, rolled back regulation, or investments in education or infrastructure. It will be caused by factors now we that are beyond our ...

@orbitar88 What a patriot....

@superjoker6 There is a major bottleneck with that generation of quad core processors. Any time all four cores are required, the processor must talk to the motherboard via the north bridge. This actually makes quad cores slower for certain tasks than dual cores from the same generation. This p...