Thanks to President's Trump's picks for prospective Fed Board nominees, the subject of gold price targeting (or a gold "price rule") is getting attention once again. The idea, which got a lot of attention back in the 1980s, after Arthur Laffer and other supply-siders, including Alan Reynolds,…
Twice recently I've come across arguments to the effect that, despite what some libertarians, goldbugs, cryptocurrency fans, and Fed Board candidates imagine, the idea that the historical gold standard kept governments from managing money, leaving the job to market forces, is a myth. In his June 24th…
Proposed nominees Stephen Moore and Herman Cain having dropped out of contention, discussion continues over the Trump administration's possible next nomination to the Federal Reserve's Board of Governors. The views of the latest candidate under consideration by the administration, Judy Shelton, have revived a question that commentators…
Stephen Moore and Herman Cain, the two recent nominees to the Federal Reserve Board of Governors, have in the past suggested returning to a gold standard (although Moore now says he favors merely consulting a broad range of commodity prices as leading indicators). In response, a number…
Venezuela has the largest oil reserves in the world. Crude exports earn the country 95 per cent of its foreign exchange. That figure used to be lower, but relentless nationalization and the government's insistence on controlling prices and exchange rates have made other exports unviable. Not that…