Foundation for Economic Growth - Newsletter

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Last Updated: Jul 3rd, 2017 - 15:54:31


Newsletters : 2010 Newsletters : 6 August 2010
Thought for the Day

The search for the truth is the noblest occupation of man; its publication is a duty. - Anne Louise Germaine de Stael

In the scientific search for the truth it is not always easy to be sure just what is true. Science teaches us to observe very carefully and to then develop an hypothesis concerning what is observed. Thus Sir Isaac Newton developed his hypotheses on motion and gravity from a falling apple - plus some generations of work on the movement of celestial bodies!

Over a couple of centuries these hypotheses became well established. This was because, no matter how hard they tried, scientists could not find a flaw in his observations or in his thinking and all their experiments just served to confirm Newton's assertions.

And so his hypotheses were called theories and eventually became Laws. Nothing could be more true than Newton's three laws of motion and his theory of Gravity!

Until Einstein arrived. And with a few thought experiments proceeded to show that Newton was wrong. Or to put it in the best light, he was approximately correct at low speeds.

The study of Economics has missed out on all serious observation, development of hypotheses and the determination of theories and laws in the scientific sense because it is impossible to conduct a serious economic experiment that someone else can duplicate at a different place and time.

Unfortunately economists are not even sure about careful observation. Keynes' Grand Unified Theory is a grand speculation about what might possibly be. Many people have found innumerable flaws in it. Hayek wrote a full book on the problems with it. Yet the world's reserve currency is now under the control of people who have a belief in it.

Will we learn? It would be nice to think so, but we didn't in the last depression.


Aug 5, 2010, 14:09

Newsletters : 2010 Newsletters : 6 August 2010
Let Them Eat Cake

The trouble that fiat currency leads us into. Some questions to think about.

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Aug 5, 2010, 14:03

Newsletters : 2010 Newsletters : 6 August 2010
The Gold Market and the BIS

The gold market is getting very interesting.

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Aug 3, 2010, 18:05

Newsletters : 2010 Newsletters : 6 August 2010
Is It a Deflationary Depression?

This article sums up the American and world economic situation very nicely. How are we in New Zealand doing?

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Aug 2, 2010, 17:50

Newsletters : 2010 Newsletters : 6 August 2010
China's Soft Power Is a Threat to the West

China is winning the world diplomatic domination competition. This is truly their century.

They even understand the paper money/Central Bank problem and are mining as much gold as possible (they are now number 1 in gold mining) and storing it all in China. They are even encouraging the population at large to stock up on gold and silver as an investment for the future.

Can a non-democratic government hold on to power for 90 more years?

It will be more and more interesting as time goes by.

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Aug 2, 2010, 14:34

Newsletters : 2010 Newsletters : 6 August 2010
The Spreading Chinese Inflation

The big question is, "How will the Chinese leaders react to increasing inflation?"

And the next question is, "How will this affect us and the rest of the world?"

We live in interesting times.

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Jul 29, 2010, 17:11

Newsletters : 2010 Newsletters : 6 August 2010
Stimulate no More it is Now Time for all to Tighten

The writer is president of the European Central Bank so this will give us an idea of how the Europeans differ from Ben Bernanke and the Americans.

Chalk and cheese! So the results on both sides of the Atlantic will be interesting to follow - especially as neither of them has any understanding of Austrian Economics which explains the problem quite nicely.

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Jul 29, 2010, 14:26

Newsletters : 2010 Newsletters : 6 August 2010
Real Bills Revisited

Has anyone heard of "Real bills" before?

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Jul 27, 2010, 15:57

Newsletters : 2010 Newsletters : 6 August 2010
Turning Bread into Stones

We have standards for weights and measures. We have standards for materials used in buildings and engineering works. We have standards for distance and safety.

But we do not have a standard for money. We do not know its value. In fact what we do know is that its value changes constantly and always to our detriment.

We used to have a gold standard. Now we have government regulations.

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Jul 27, 2010, 11:26

Newsletters : 2010 Newsletters : 6 August 2010
Down with the Rich, Again?

I am indebted to Steven Berry for sending me this link.

Austrian theory once again explains what is happening.

However, unfortunately, our current crop of "economists in charge" are stuck in a Keynesian/Monetarist time warp of muddled thinking.

Small government and thus lower taxes is the answer to the problem of building wealth. What a pity we are such slow learners.

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Jul 27, 2010, 10:53

Newsletters : 2010 Newsletters : 6 August 2010
The LBMA Joins the Gold Squeeze Cover-up

The problem is the Internet. It is so difficult to hide anything these days.


Jul 26, 2010, 15:01

Newsletters : 2010 Newsletters : 6 August 2010
Reflections on the Death of Paper Money

Can we learn from history? Will we learn from history? Or is all history bunk?


Jul 26, 2010, 14:44

Newsletters : 2010 Newsletters : 6 August 2010
Jobless Spending Fights Recession

Things are going from bad to worse in America. Is it possible for New Zealand to avoid this trap?

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Jul 26, 2010, 11:59

Newsletters : 2010 Newsletters : 6 August 2010
Quote for the Week

Inflationism, however, is not an isolated phenomenon. It is only one piece in the total framework of politico-economic and socio-philosophical ideas of our time. Just as the sound money policy of gold standard advocates went hand in hand with classical liberalism, free trade, capitalism and peace, so is inflationism part and parcel of imperialism, militarism, protectionism, statism, and socialism.

Ludwig von Mises


Jul 20, 2010, 14:07

Creating Wealth and Keeping it

The New book by Phil Scott, President of the Foundation for Economic Growth.

"This book is good, damn good and no statistics!" Lindsay Gordon, MA, MSC, PHD.

Every serious economics student should have a copy and read this ground-breaking foundation of clear economic thinking. Real Economics explains how human actions shape our world and why so much seems to be going wrong for Western economies. This book will bring enlightenment for the general reader who will see why a few very wealthy are becoming exceedingly rich and the middle classes are on the road to serfdom.

See more: www.realeconomics.co.nz