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Under a gold standard, the amount of credit that an economy can support is determined by the economy’s tangible assets, since every credit instrument is ultimately a claim on some tangible asset. But government bonds are not backed by tangible wealth, only by the government’s promise to pay out of future tax revenues, and cannot easily be absorbed by the financial markets. A large volume of new government bonds can be sold to the public only at progressively higher interest rates. Thus, government deficit spending under a gold standard is severely limited. The abandonment of the gold standard made it possible for the welfare statists to use the banking system as a means to an unlimited expansion of credit. - Allen Greenspan

US-Präsident Barack Obama hat einen spektakulären Kurs-Wechsel der Außenpolitik vollzogen: In einem Interview mit „60 Minutes“ bezeichnete Obama als erster US-Präsident den Irak-Krieg als „Fehler“. Die Syrien-Strategie sei gescheitert, ebenso wie die Intervention in Afghanistan. Die USA müssten ihre militärischen Ausritte beenden. So spricht ein Friedensnobelpreisträger. ..
Weiterlesen Deutsche Wirtschaftsnachrichten - Veröffentlicht: 12.10.15 15:10

Baby Frog: Mama, who is smarter- a chicken or a frog? Mama Frog: We are of course!!
Baby Frog: How do you know? Mama Frog: Well, who ever heard of Kentucky Fried Frog?
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Why are frogs so happy? They eat whatever bugs them!

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