The Gangnam Standard

If you want popular, than you have to back the Gangnam Standard. After all, the Gangnam Style video by the Park Jae-sang, the South Korean artist known as PSY, has become the most watched video on Youtube with more than a bilion hits. You know you are popular when you have more hits than Justin Bieber’s Baby. Now, PSY has joined Bieber on Scooter Braun’s record label.

You know you are an international hit  when UN Secretary General Ban Ki-moon meets with you and praises you for your  "unlimited global reach".

You know you are it when Gangnam Style becomes among the most imitated Youtube videos.  The Oregon Marching Band - Gangnam Style has more than 4.5 million views. https://www.youtube.com/watch?v=gfzCkatPlU0

Ellen DeGeneres’ video of a mother and son dancing Gangnam Style has more than 22 million views. https://www.youtube.com/watch?v=rr5Z0SHBNvo

That’s more even than Psy’s appearance on Ellen. Not to be outdone, kids and dogs are featured on Youtube doing their Gangnam imitations.

That seems to be the problem with the Gangnam Standard. It can be so easily replicated without any standards for quality or purity. In Austin, Texas, there is a man whose Christmas tree lights blink to Gangnam Style. Is nothing sacred?

Still, you have to wonder among the staying power and lasting value of dancing as if one were a horse. Clearly, PSY has flooded the market – much like the world’s central bankers have been doing lately — and the results have undoubtedly been greeted more enthusiastically. When will the bubble burst?

Nevertheless, one can’t help laughing at the Gangnam Standard – which is more than one can say for the world’s fiat money.

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The Most Important Thing Holding Up the US Dollar

by Ron Paul

Today’s economic conditions reflect a fiat monetary system held together by many tricks and luck over the past 40 years. The world has been awash in paper money since removal of the last vestige of the gold standard by Richard Nixon when he buried the Bretton Woods agreement — the gold exchange standard — on August 15, 1971.

Since then we’ve been on a worldwide paper dollar standard. Quite possibly we are seeing the beginning of the end of that system. If so, tough times are ahead for the United States and the world economy.

Yellen’s Missing Jobs

March 31, 2014

The new Federal Reserve chairman, Janet Yellen, gave a policy speech today at Chicago, where, in a startling gesture, she mentioned three working individuals by name — Jermaine Brownlee, Vicki Lira, and Doreen Poole. They lost their jobs the Great Recession and have been struggling ever since. It was a refreshing, even affecting demarche by Mrs. Yellen, who has made a return to full employment a public priority. She underscored her sincerity by telephoning Mr. Brownlee and Ms. Lira and Ms. Poole before delivering her speech.

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The Rueffian SynthesisJohn D. Mueller

Publisher's Note: Originally released in June/July of 1991, this detailed report discusses Jacques Rueff's economic theories and applies them to modern economic events.

By John D. Mueller

Who Was Jacques Rueff?

... Trained in science and mathematics at the Ecole Polytechnique, Rueff devoted his first theoretical work to showing that the same scientific method applies to “moral” or “social” sciences like economics as to the physical sciences (Des Sciences Physiques aux Sciences Morales, 1922). In both cases, he pointed out, individual acts can be “indeterminate,” but the pattern of large numbers of individual acts can be predicted as a matter of probability. And so in economics no less than physics, as he later wrote, “A scientific theory is considered correct only if it makes forecasting possible.”

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Excerpts From:


by Lewis E. Lehrman

"Forerunners of man lived upon the planet several million years ago. But the unique, modern, social order of man – civilization – emerged only four to five thousand years ago. Historical and archaeological evidence suggests that the institution of money evolved coterminously with civilization. From the standpoint of the 100,000-year history of Homo sapiens, civilization and money are but young and fragile reeds. Today their very existence is threatened by financial disorder."

Learn More

 

Turkey’s Cut-rate Expectations

Kathleen Packard  |  Apr 18, 2014
There is a lot of bad behavior in the global political and monetary world. Much of it comes in countries that should know better. Recep Tayyip Erdogan’s Justice and Development Party (AKP) easily won municipal electons in Turkey but the party’s candidates won far short of the nation’s votes. The Wall...
Hostility toward gold has a long pedigree.  19th century depiction of Pliny the Elder courtesy of the Library of Congress Gaius Plinius Secundus, commonly known as Pliny the Elder, in his The Natural History, Book 33, section 3, writes: Would that gold could have been banished for ever from the earth, accursed by...
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Jacques Rueff, a key figure in European economic circles from the 1930s until the 1970s, was, first and foremost, an...
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Sep 04, 1986
Key Monetary Writings
John D. Mueller

The Reserve-Currency Curse

Since 1971 the world has suffered two great inflations and three recessions. Hopes for a world-wide economic...
VIEW KEY MONETARY WRITINGS
 
Prosperity Through Gold
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Kathleen M. Packard, Publisher
Ralph J. Benko, Editor

The Gold Standard Now
Board of Advisors:


Senior Advisors

Sean Fieler, James Grant,
Steve Hanke, John D. Mueller,
Lawrence Parks, Judy Shelton,
Lawrence H. White

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Paul Fabra

Advisors
Jeffrey Bell, Ralph J. Benko,
Andresen Blom, Frank Cannon,
Rich Danker, Brian Domitrovic,
Charles Kadlec, Christopher K. Potter,
John Tamny and Frank Trotta

In Memoriam
Professor Jacques Rueff
(1896-1978)

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