Ecuador Proves the Gold Standard and Free Banking

We are always told that the gold standard is crazy and caused the Great Depression and could never be reinstituted, or that letting people and banks choose the currency themselves is a recipe for economic disaster. That might come as a surprise to Ecuadorians and residents of dozens of other countries from Canada to Zimbabwe.

751px-American_CashIn 2000, Ecuadors currency was on its last rocks, and the government just gave up. It opted to endorse the US dollar and made it legal tender. Since then, Ecuador has done well for itself; it certainly has not done bad. The South American nation has proven a great market for the dollar coins that are less popular in the US. Ecuador produces its own coins that are the same sizes as US coins, which are also accepted. And they are not the only country to have done this. Panama does also, as do East Timor, El Salvador, some Caribbean and Pacific islands, and of course, Zimbabwe. Additional countries do the same with the Euro, the Australian dollar, and other currencies.

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Inflating the Dollar Does Not Create Jobs

It must be frustrating to be a Trump supporter. It seems like the entire world is against you. The media has gone from loving a man who bombed a half dozen Muslim countries and stagnated the economy, among other things, to nitpicking a successful businessman who oversaw economic growth the day after being elected. It was not too long ago that Democrats were cheering the stock market and job growth under Obama. Nevermind that most or all of that happened only when Republicans took back Congress. When Trump does the same thing even faster and better, there is utter silence. Have we really come to such a psychologically 1984 world of doublethink? We were always at war with Eastasia or Eurasia or whatever it was.

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Purim: Iran is not Haman

It is that time of year, when we Jews celebrate yet another victory over oppression. The famous, but somewhat out of place story about how the Jewish queen of a Persian king saved her people from doom at the hands of a wicked minister, thanks to the advice of her uncle. We can draw an important parallel from this story to the Iran of today that many Jews have forgotten about over the past decades.

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Esther Denouncing Haman, by Ernest Normand (1888)

 

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Without government, who would destroy the life of Casey Anthony?

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Caylee Anthony

Remember Casey Anthony? The young woman in Florida who was accused of killing her 2 year old daughter with chloroform and duct tape, but was acquitted. The defense claimed that Caylee drowned in the pool, and someone else disposed of her in the forest. Anthony has been in the news again recently because the judge presiding her case said he believed she killed her daughter by accident, having tried to calm or quiet Caylee down, but went too far. Its not really clear how chloroform became an acceptable way to calm down children, if that theory is true. Casey was acquitted, the jury did not feel there was enough evidence to convict her of murder, but that has not stopped the nation from convicting her.

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