Droke: “While monetary liquidity is increasing, the supply of shares outstanding in the stock market has been shrinking steadily to form a potentially bullish combination.”

Clive Maund: “…one possible explanation [for a US dollar rally] might be a progressive ‘beggar thy neighbour” policy of competitive devaluations by other countries and trading blocs battling to keep a competitive edge. With other factors weighing in, the dollar could end up being “king of hell” if money supply expansion elsewhere outran the dollar.”

Forbidden Research by Fekete

Some key points:

‘Sudden death syndrome’ (Item 5)

The difference between the discount rate and the rate of interest (Item 8)

The transformation of the bond market due to the absence of the gold standard

Some quotes:

“…in establishing a monetary system for the new country the U.S. Constitution did not make provisions for a central bank. It made provisions for a Mint.”

“The regime of irredeemable currency is a weapon in the hands of special interests to obtain economic advantages at the expense of the ‘silent majority’.”

“Hoarding marketable commodities other than gold generates the Kondratieff long-wave cycle that ultimately destabilizes the economy.”

“Young economists are brainwashed by the Keynesian and Friedmanite orthodoxy into thinking that the regime of ‘managed’ currency represents a great advance over ‘obsolete’ metallic monetary standards, and is a ‘great blessing’ to society. Austrians are not helpful either with their rigid refusal to examine the merits of the ‘Rittershausen syllogism’. Obstacles in the way of monetary education are enormous.”

“The global regime of irredeemable currency throws the inhabitants of Earth into bondage.”



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To the west, China is a waking economic giant, poised to dominate the world. But, argues Will Hutton in this extract from his new book, we have consistently exaggerated and misunderstood the threat - and the consequences could be grave



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by Ashley Seager