Valentine's Day Ideas for Couples at Home to Make Best & Special: – Every 14th February, across the world, chocolate, flowers, and gifts are exchanged between dear ones, all in the name of St. Valentine. Just about 150 million Valentine's Day cards are exchanged per annum, making Valentine's Day the second most popular card-sending festival after Christmas.
The history of Valentine's Day and the tales of its patron saint is masked in ambiguity. We do know that February has long been famous as a month of romance and that St. Valentine's Day, as we know it today, contains residue of both Christian and ancient Roman custom. But what we do not know is who was Saint Valentine, and how did he become related with this ancient ceremony?
The Catholic Church recognizes at least three saints named Valentine or Valentinus, all of whom were martyred. One legend disputes that Valentine was a priest who served through the third century in Rome. When Emperor Claudius II strong-minded that single men made better defense force than those with spouses and families, he prohibited marriage for young men. Valentine understood the unfairness of the decree, and rebel against Claudius and continued to execute marriages for young lovers in secret. When Valentine's actions were uncovered, Claudius ordered that he be executed.
Different stories propose that Valentine may have been murdered for endeavoring to help Christians flee ruthless Roman penitentiaries, where they were frequently crushed and tormented. According to one legend, a captive Valentine actually sent the first "valentine" welcoming himself after he fell in love with a young girl probably his jailor's daughter who visited him throughout his imprisonment. Before his demise, it is suspected that he wrote her a letter indicating "From your Valentine," an articulation that is still in use today. Even though the certainty following the Valentine legends is gloomy, the tales all highlight his appeal as a compassionate, daring and most prominently passionate figure. By the Middle Ages, conceivably thanks to this repute, Valentine would become one of the most admired saints in England and France.
In addition to the United Kingdom, Valentine's Day is renowned in USA, Canada, Mexico, France and Australia. In Great Britain, Valentine's Day had commenced to popularity just about the 17th century. By the end of the 18th, it was general for friends and lovers of all social classes to change the symbol of love or handwritten notes, and by 1900 printed cards began to substitute written letters due to development in printing technology. Handy cards were trouble-free means for the public to utter their emotions on an occasion when straight expression of one's feelings was disheartened. Cheaper postage rates also added to boost in the fame of sending Valentine's Day greetings.
There are people who prefer staying at home and doing things rather than going out in the sun and draining all the energies. Let's face it, we all have plans and we all considered going someplace really peaceful, getting our photo clicked and enjoying. But, we could not figure out where to go and how to get to the places which meet our anticipation and is not far and is not expensive and give us that 5-star effect. Well, hold on!! You know that criteria do not match to the places nearby and you do not want to go too far places. The simple solution is staying at home.
Through my inspiration for sentimental Valentine's Day thoughts, I invented many and thought I'd share them here just in the event that any of you are willing to stay home this year.
Valentine's Day is the ideal time for the restaurants to increase their meal prices, as many couples tend to dine out in the restaurants. Restaurants are usually overbooked in this period and one has to stand in a line to get seated. Hence, instead of going out for dinner at a fancy, expensive restaurant filled with complete strangers, you can take your candlelight dinner to your home. Set two plates on the table nearby a window or in a balcony where you can enjoy the pleasing light of the shining moon and the stars, feel the fresh air and deem all other lights to enrich the light of a candle. Instead of buying your loved one the meal she loves, cook it yourself to show your undivided love for your spouse. You can start by serving wine or an appetizer and then proceed for the main course. Since you will be alone and undistracted by the surroundings, you will have sufficient time to gaze into each other eyes to share your love for one another. You can conclude your date by having sweet desserts such as ice cream or cake.
The first way is simple and sweet. Make some delicious food on your own and surprise her with the delicious food made by you. Decorate the dining hall with different colored rose and beautiful curtains. It would be more special if it is her favorite food and wishes her happy valentine's day with the bunch of red roses. She would be really happy and feel very much romantic. And yes, you can have romantic talks all overnight.
If you want to spend your valentine's day at home only then the next romantic way to celebrate Valentine 's Day is to spend your day preparing the meal in the romantic way only. You and your wife can together cook the meal for lunch as well as dinner. Preparing the meal together creating the romance make the day special. You can have the breakfast together and now prepare the lunch together. It would be much romantic preparing the meal together in each other arms. It would be much fun if you select the different recipe than we prepare for normal daily life. For this, you can research about a different meal and a little difficult recipe. You can learn it to prepare together and for this, you can split up the duties or you can follow step by step together only. Thus working side by side you both can be together for the whole day and have the meal together. It would really work out so that you can have much romantic time than it seems. You can have a great time whole day to each other.
All one needs to do is to pick out a meal that your beloved enjoys but you don't have the luxury to enjoy it often, like mutton kabaab, Chicken Roast, Bangur sadeko, chicken chooila, chicken sekwa etc. You can also decorate your house and have a candlelight dinner in your garden.
Girls want the time rather than the materialistic matter. So give her the full day because the best way to spend quality time with your loved ones is to make him/her involved in your full day. Make her concern towards you only trying to avoid her distraction. It's all about you and your wife for the day so try to avoid her distraction towards phone calls, internet or any other thing. Decorate the home with beautiful flowers, beautiful curtains, and magnificent perfumes. Gift her beautiful red colored dress and enjoy the beautiful evening with delicious food you made on your own. But the food should be her favorite one. Enjoy the Valentine's Day. And you can have some soft music and dance on that romantic soft music being in each other arms. Surely, she will feel very much happy.
I am a big movie person and every time I have free time, I go out for movies. It really gives me relaxation and enjoyment. But that's not possible all the time, sometimes I have all the free time I need and no money and I cannot go out for movies. We all are students and even if you are not, there will be a point where you would not want to waste money on watching movies which are not great at all. But what you can do this valentine's saves and yes watch movies at home with your girlfriend. Valentine's Day is one of the favorable times to watch Romantic movies along with your loved one. Pop in a romantic picture or a series that you already possess at home or rent a movie from Netflix that you all and your partner always wanted to watch. Watching a picture can be just one aspect of your Valentine's Day plan, or you can roll it into a movie marathon. During this time you can have and sip different refreshments that you have set for the night. Or else Make a big bowl of popcorn and finish it all by yourself, while watching your favorite picture or series.
First, light the candles all over the house and turn off all the lights and bulbs. It provides a romantic atmosphere. If you don't like to turn off all the lights, you can arrange for some dim lights. It would be more romantic if you light up the candles in all over the room. Now, create a temporary bed on the floor with one pillow and one blanket only along with the mattress. Play some romantic movies and watch all over the night being in each other arms. You may watch over all night or you can fall asleep in each other arms. It would be really romantic to fall asleep in each other arms with sweet dreams. Beside this, you can also arrange some light foods like popcorn and some soft drinks or as you both like, it may be hard drinks too. This way you can spend your beautiful love day night in a romantic way.
You can watch movies such as Notebook, love actually, Annie Hall, Sleepless in Seattle, 500 days of summer, Notting Hill, Eternal sunshine of spotless mind, Titanic, A walk to remember, lil Manhattan, Before sunrise, I love you Philip Morris etc.
You can also use this time to look at old videos and recall on good times that you have shared with one another. Depending on how many home videos you have, you can make it a dinnertime activity, or have them in performance throughout the night.
After the delicious dinner that you have prepared for your partner, you can get cozier and recall your times together over an ice-cream. You can talk about the highs and lows that you faced in your relationship as a couple, and enjoy each other's comfort and love. After that, craft and share promise for the years forward and what you expect to achieve and be. You can even attempt to craft a resolution to improve certain habits undesired by your partner, and can also be each other's responsible buddies to achieve them in future. Sharing your feelings and opinions help you communicate and know each other better and trace out the problems if any out of your relationship. This session will give you a new way to w bond and have the close relationship with your loved ones.
Valentine's Day can be made more special through romantic meals only. Since you are not taking your wife out for lunch or dinner order all the meals i.e. from breakfast, lunch to dinner. If you like to surprise your wife more, you can prepare on your own and if you are ordering then open the door for the delivery person only. But I suggest preparing on your own and surprising her the whole day. You can make you every meal special by feeding each other. You can decorate the dining table as well as the dining hall and make her feel special with your food.
My mother has always enlightened me that the true way to a man's heart is through his stomach. Hence, this valentine's day get to your man's heart through my mother's recipe. Food is the best thing you can think about when it comes to occasions. You can search the internet and try out different foods. The foods can come from different cultures as well. We humans always have a propensity to perform our daily chores in chronic order. Most of us don't prefer to deviate from our daily schedule. For e.g. we Nepali natives always have rice for our dinner. So, this valentine's day, get yourself a chance to reach out for something new, by deviating from normal cousin to a new variant one. Try cooking something that you are unlikely to make it on your own; something that you prefer but never had guts to cook it on your own. To make things more interesting you can also invite your husband to accompany you on your new plan. You can also check out our page where we have given over 20 different recipes you can try without having any troubles because these items are easily available in your house. And do not forget to write about how the recipe was after you have tried it. You can comment in the comment section or write to us.
If you are planning to stay home with your beloved on approaching Valentine's Day, then you can engage yourself in much more productive activities such as crafting memory board than living being unoccupied or unproductive. All you got to outdo the idle time is to make a list of stuff you have accomplished as a partner and hang it in your room. The idea is to make a memory board of your favorite past memories and relive them for yet another time. You can also prepare memory board consisting of do's and don'ts to encourage yourself to achieve them in future. Or prevent such behavior from recurring in approaching years to come. You can also do a DIY stuff so that it would look good in your room.
The memory board shall always act as an archived trophy to encourage couples to achieve their future goals.
This is something that I personally prefer to do with my partner. I create a playlist of popular romantic songs that he loves and play them in the evening to recall old memories that we have shared. Playing music loudly provides much more imminence to old memories as partners can dance to their old loved songs. Lover's can sit on a lawn or a balcony to enjoy the breeze and the chill of the wind. You can also enjoy the warmth of a hot coffee. Music, cold breezes, hot beverage and golden old memories all lead to passionate evening.
If you are a musician then you can play with your spouse, his or her favorite song on your musical instrument on the similar setting, to enjoy the Valentine's Day. You can have a great time enjoying with your partner by singing your favorite songs and dancing to it.
Can you believe it, your love, your girlfriend is finally your life partner. Life is so uncertain but it never really fails to surprise us. It is very important to live in the present and live for a future. However every now and then we become so busy with our lives that we often overlook the one we love. Our priority shifts from one thing to another. Though we do what we do for our loved ones, it is necessary to understand that it is not what they want. It's your love for her that you work hard, but for her, you are so busy working that you couldn't spare a moment to share a cup of coffee together.
We become so focus in our future that we often forget about the person that we love, we forget about the moments we shared together and happiness that was once so dear. So, this Valentine's Day instead of working for your beloved's happy future, give her your present, share a time together to create a new memory and create new happiness.
This Valentine's Day doesn't give your wife an expensive materialistic gift. Gift her your time that she always craves for. Together relive happiness that you once made together and spend this day to unite with your past, to make a promise not to forget, to reconnect, rejoice and relive old days. To cherish, respect and enjoy the old memories. To always love one another.
When we think about Valentine's Day, the first thing that strikes our mind is having a ravishing party. All of us have once in our life been invited to Valentine's Day party. So to those couples who are tired of attending others party can throw their own this year to remember.
Parties that we attend often lack such moment that we all crave that could have made the year to remember. Thus, to rectify such missed opportunity one can through his own party, and include all those activities that will make the party and day worth remembering. When you through your own party, you can Dance the night away with your partner on full volume. You can also make a short video of good memories you would have with your spouse and watch it later together, which can serve as a sweet trip down the memory lane.
To make Valentine's Day party more memorable, you can even theme it. You can even set certain dress code and color, such as red for women and black for men. You can decorate the hall by using red balloons. Balloons are reasonably priced and easy way to make your Valentine's Day an extravagant affair.
Setting aside a few minutes for sentiment when you have kids is truly troublesome and when you have an infant it appears to be about impossible principally since it's complicated to even leave the house to make a quick run to the market, much less to go on a dream date.
Instead of going out you can organize your very own ballroom in your living room. All you need to do is decorate the room with red balloons, light candles instead of electric lights, play romantic music, serve refreshing wines, Set up the air mattress, Roast marshmallows in the hearth, Have a picnic dinner on the floor, Light disco lights and dance the night away with your husband.
You can also move the furnishings off the beaten track, turn on the tune and hop like prom night once more. If you don't know how to dance than you can rent a DVD or watch YouTube and spend the time teaching one another.
You can also cook together by pre-selecting the menu and arranging necessary ingredients in front of time then have fun cooking, testing, and dining.


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Notes From The Conquistadork
Just an aging geek, talking about things I see.
Fiction Portfolio
Games Journalism
Cowabunga Footnote: Thoughts On Richard Rosenbaum's "Raise Some Shell"
philkeeling / April 16, 2014
160 pages does not a huge book make. 160 pages on the history, cultural impact, and future contributions of the famous Teenage Mutant Ninja Turtles, on the other hand, seems like an uber-nerdy gift from god. The kind of god that has to push his glasses further up on his nose before he hands over said gift. ECW Press has given a pocket-sized gift to the world in the form of their latest endeavor, Pop Classics: a series of critical commentaries on various nuggets of pop culture. My first venture into this verdant forest of nerdery begins with Richard Rosenbaum's Raise Some Shell.
"Has Raph noticed that we're all wearing his costume? Oh, he's going to be PISSED."
Not only is Raise Some Shell informative, it's entertaining as hell. The wealth of information available here on the topic of the Teenage Mutant Ninja Turtles (in all of their forms: comic, cartoon, game, etc) is impressive enough as it is. Throw in the fact that this book is painstakingly researched and that Rosenbaum is a terrific writer, and you've got a book that any nerd or lover of the Turtles would be proud to have on his shelf.
There's an insight at play here that can be best understood by those of us who took classes in literary theory for fun. Rosenbaum has taken the age-old art of cultural and literary analysis and somehow made it more nerdy with the addition of some of the most beloved comic/cartoon heroes of the 90's. Despite that, he avoids making Raise Some Shell an esoteric piece that only the most dedicated of fanboys will appreciate.
The commentary is definitely for everyone, and along the way Rosenbaum explains dozens of different yet related topics. The subjects of pastiche, the socioeconomic status of various members of the Justice League, the importance of always getting a cut of the toy sales–all of this and far more is expounded upon. The direct connection of TMNT to Marvel's Daredevil, (and the fact that the same canister affected Matt Murdoch and all four turtles) for example, might be a detail that even the most devoted nerd might not have noticed.
Perhaps most important of all, Rosenbaum manages to take a seriously in-depth look at the Turtle phenomenon and its importance without losing his sense of humor. The ironic effect being that we feel that we can take Rosenbaum seriously for the very reason that he doesn't allow the subject to become muddled down by self-importance. And in a book where transformative effects and the social status dictated by them is compared to the works of Kafka and Rushdie, it is imperative that one not get too full of oneself.
I really think ECW Press is onto something with this Pop Classics collection. Raise Some Shell will be published alongside It Doesn't Suck: a similar analysis of the pop flop Showgirls, and if the quality of Shell is any indication, I'll be picking that one up next. I adored this sliver of a book and I think Turtle fans will rejoice when they discover it.
Raise Some Shell was written by Richard Rosenbaum and was published by ECW Press on April 15th, 2014. It is available in paperback and Kindle at Amazon.
April 16, 2014 in Books, Comics. Tags: ECW Press, pop classics, raise some shell, richard rosenbaum, teenage mutant ninja turtles
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One thought on "Cowabunga Footnote: Thoughts On Richard Rosenbaum's "Raise Some Shell""
Bobby Herbeck says:
I have a long history with the first TMNT film. I wrote the first script for the first movie. Wall papered Hollywood pitching the movie to get made. Rosenbaum leap frogs the whole story and long drawn out process to making the film … from approaching Peter & Kevin and convincing them Golden Harvest was the company to bring it to the screen … not New Line as Rosenbaum states … no mention of GH. Nor the writers … nor the back story of getting it to the screen … how our timing was perfect … and so many other things he failed to mention or misrepresented. Including the cost of making the film and the final b.o. figures. Rosenbaum needs to do his homework before asking people to shell (pun intended) out their hard earned money to read his fiction.
Bobby Herbeck

redpajama_set_name: RedPajamaCommonCrawl


Hello, my name is Yao-Chih SHIH. You can call me Stan. I'm 22 years old and I'm from Hsinchu City, Taiwan. My birthday is on September 14th. I'm a high jump player. My best record is 2 meters. I have practiced this sport since 7 years ago. I like to play volleyball, too. When I was an elementary school student, I was trained as a volleyball player. I like to make friends. I also like to listen to the music when I have free time. Music always makes me relaxed and more concentrated on sports or study.
Two years ago, when I was a third-year student at university, I had a chance to be an exchange student. But I gave up for I had to practice a lot to be an outstanding athlete. Now I made my mind to go to TF because my schoolmate, who was an exchange student last year, told me that there were many historical buildings and different cultures in Hungary. In addition, to my knowledge, there have been many Olympic medalists trained by TF. I wonder how they scientifically train the athletes in Europe and how they develop local sports atmosphere. That also motivated me to go to TF.


Kik Interactive is all about sharing and connecting. Kik Messenger is a cross-platform application that allows real-time instant messaging for individuals and groups, as well as photo sharing. Kik was created by a team of students at the University of Waterloo and was launched in October 2010 to unprecedented success. Today, more than three million people around the world are enjoying Kik Messenger. Kik Interactive is based in Waterloo, Ontario.


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Jammu: Union Minister for New and Renewable Energy Farooq Abdullah has conveyed his anger over the repeated talk of rotating the Jammu and Kashmir Chief Minister-ship between the ruling allies, his National Conference and the Congress, party sources said Tuesday. He has asked the Congress high command to make it clear whether they want to continue in the alliance or break mid-way. Farooq's son Omar Abdullah has been the Chief Minister since January 2009, and a section of the Congress in the state, owing loyalty to state Congress chief Saifuddin Soz, has been pitching for change of guard. A local media report Sunday suggested that nine Congress legislators, including five ministers, had resigned to mount pressure on the party high command to replace Omar with Soz. The National Conference sources said that Farooq, who heads the NC, was so miffed with the report that he took up the matter with some senior Congress leaders in New Delhi and asked them that his party should be told in clear terms whether the NC-Congress alliance in Jammu and Kashmir is to continue or break mid-way. These sources in the National Conference said that Farooq Abdullah's response made Soz deny the report and even led to Deputy Chief Minister Tara Chand issue a statement that the coalition was running smoothly and that no Congress legislator or minister had resigned. However, sources in the Congress said the matter is far from over as some leaders would again bring up this issue. They said they feared that if the Congress continued to play the role of "B team" in the government for next three years, it could result in electoral debacle for the party in the 2014 assembly polls.


Dress shoes losing heel caps, spills, a run in a pair of pantyhose… it's a jungle out there. My office desk drawers are a testament to 30+ years of dealing with "work clothes" emergencies. People come to me for repairs. I am the Office Mom of clothing emergencies.
Over the years, I have learned how to make quick fixes inexpensively. Here are some tried-and-true fixes.
My number one solution is to keep a spare pair in my desk. However, sometimes even that back-up pair fails — and always right before a meeting or a presentation. Naturally! A squirt of hairspray will stop that run. If you don't have hairspray, a little clear nail polish will also do the trick. Unfortunately, both are smelly, so try to fix quickly so they have time to dry.
I wish I had a nickel for every time someone has borrowed my sewing kit. Aside from the needle and thread, the most often-requested item is the tape measure. This kit also contains some buttons, which are very handy, as well as small scissors.
Every woman's nightmare: The doggone broken heel cap. They never break at home, do they? Always, every darn time, at work or on your way somewhere. Unless you like limping and clicking around all day (and explaining it a million times), you might want to make a very small investment in these heel caps.
Guys, if your shoe soles are worn out, you may save money by trying the repair yourself — and the rubber is made by Goodyear! They work on both dress shoes as well as boots.
It's upsetting to spend a lot of money on leather shoes only to scuff or scratch them. That is why you might try this leather repair product. You can even mix your own color. It also works on the couch, other furniture, car seats, coats, etc.
Ever snag a favorite sweater, and put a hole in it? Don't worry, you can fix it! What do you need? Just a simple sewing needle for a small hole, or a crochet needle for a larger one.
This hint could not be cheaper. Where is that #2 pencil? First try rubbing the pencil on the zipper (the lead may lubricate it enough for it to work). If it is more complicated, check out this video for un-sticking a zipper.
We even take our eyeglass repair kit with us on vacations — it is that handy. It can be really miserable to lose a screw in your glasses and be nowhere near an optometrist. This little eyeglass repair kit is inexpensive and easy to pack.
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A fun card game for 2 people where you and your opponent, turn by turn, puts cards in a 5x5 table. You get points for each "poker"hand for each row and column in your table. You have your table and your opponent has his/her. The game is based on classic poker squares, but here playing against an opponent.


Direct biomass gasification and chemical municipal waste treatment appear to share scale of economy orders of magnitude. Actually this may relate to similar logistic implications. Also the mean calorific value and range of mix in quality of fuel fractions deem to provide synergies in use of similar technical solutions. Indeed there can be seen several initiatives across Europe and North America, where alternatives to incineration have been based on different gasification Technologies. Also at TU Vienna various fuel mixes had been investigated in Fast Internal Circulating Fluidized Bed Gasification, confirming potential synergies between biomass and MSW residues.
Of course waste is a very local issue and can vary in its composition widely, depending on the local population's income, nutrition habits and degree of formalization in the waste remediation sector. Since this conference is collaboration between China's and Austria's scientific academic capacities in the field of Gasification, we would like to bring up some aspects of possible application of Austrian Technology potentially able to meet specific needs of China in the field of MSW treatment.


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Many years ago now Esther, Grace and Obert told their stories to millions of viewers. Their lives changed overnight. Like many others, we were inspired by them and started a journey which has changed us too and over 5,000 children who benefit from our programmes. As they grow up and forge their own paths – we look at how their stories changed the lives of other children.
Obert - Before
Obert was widely known in his area for being one of the most intelligent boys in the school. Obert is acutely aware of what an education can do for him when he says… "As a child I don't think children should be chased away from school. The law that means children are sent home is bad, we should just be able to learn…
Esther - Before
Nine year old Esther looked after her two year old sister and her dying mother. Attending school was a dream far out of her reach since they both depended on her solely. She tells us of the hopelessness of her life when her mother dies – "I told her when she dies I will get into the grave with her.
Grace - Before
Grace lives with her younger sister and father in a township just outside of Harare. Grace and her sister are sent home from school. She explains "If I cannot go to school, I won't have a good life, because I won't have had an education". Their father felt completely helpless in trying to provide for his two young daughters.
Obert - After
Obert passed the difficult entrance exam into a top boarding school. He worked hard and achieved very good grades – having many proud moments. Every school holidays Obert would return home to spend time with his proud grandmother (Gogo) and friends. Obert continued with his schooling right through to A'level when he returned back to a new home.
Esther - After
After their mother died, and they were left in the care of their abusive uncle, we stepped in and managed to secure a family home for Esther and Tino. Having the comfort of a caring guardian meant that Esther was relieved of the burden of looking after her little sister. She started school again and has become a happy and cheerful child, thriving in her new enviornment.
Grace - After
Sadly, Grace and Michelle's father died not long after but they continued to lived in their father's extended family home. Both girls went back to school and received better nutrition along with counselling to help them through the previous few years. Grace continued onto College where she completed an 'Early Childhood Development' course to work as a nursery teacher.
Thank you Obert
Obert's story highlighted the food challenges of children in isolated rural areas and schools sending children home for non-payment of a small fee. Of all the stories we believe Obert's has seen the most change to children within Zimbabwe. We've worked hard to give children free access back into school and reach over 5,000 more children within his old school community. During the development of Obert's school we have created programs we believe will bring relief and the most beneficial, sustainable outcome for their education and health. Obert is an adult now; he has completed his school life and now lives near extended family. Thank you for telling your story Obert.
Thank you Esther
Esther's angelic voice and eloquently told story touched the hearts of so many. With the help of many people she started a wonderful new life with her little sister after her mother sadly died. However Esther's story did not only change her fate, it opened the door to millions of children throughout Africa. A large NGO had, for the first time, film footage of the life of a child before and after which attracted large donors who fund their work throughout Africa. At the same time Comic Relief in the UK used their story to show the reality of children's lives in some parts of Africa. Donations came pouring in and hundreds of thousands benefitted. Thank you for telling your story Esther.
Thank you Grace
Grace shone the light on how difficult it is for girls living in townships, which we could not ignore. With your support we created a program within a large township assisting grandmothers, single mothers and teenage girls to access education, food and small business start-ups using dormant skills such as dress making and hair dressing. The programme gave young girls the chance to fend for themselves rather than be married off at a young age. Many girls have Grace to thank for telling her story so bravely. Grace is now an adult and has finished her education along with her younger sister Michelle who has started a new life with her family. Thank you for telling your story Grace.
Esther, Obert and Grace have definitely done their bit for humanity and are very keen to move forward with their lives, which is only fair. We thank them for telling their stories; we thank you for your generosity – it is only through all of you that we are able to reach and change the lives of Zimbabwe and Africa's beautiful children. Please continue to support our work, we cannot do it without you.


The modern art world lost one of its greats today with the death of Spanish painter Antoni Tapies. He was one of the most famous painters to come out of Spain since Dali and Miro, though you don't hear about him as much here in the United States. He liked to make weird semi-surreal, quasi-abstract….
There are different strategies that organizations use to try and get their point across. Some stage protests, hunger strikes, or letter writing campaigns. The ladies of the NC Dream Team decided to don masks and wrestle Lucha Libre style. The North Carolina organization is made up largely of undocumented students that support the adoption of….
While next month is Hispanic history month, February is black history month. In the United States, we tend to think that the only Black people are African-Americans and Africans. We tend to forget that 40% of Latinos are of African descent. During the slave trade, 95% of African slaves were brought to Latin America. Afro-Latinos….
Our girl Sofia won the top honor on Askmen.com's Top 99 Most Desirable Woman List. The men's site has people vote on which woman most strikes their fancy. With Sofia, it's not just her drop dead gorgeous beauty. Askmen said that Sofia won because she has "attributes that men want in a companion, such as….
The internet and the mainstream media are fawning over Mexican sports reporter Marisol Gonzalez, who's causing quite a stir at the Super Bowl media day. Our response: welcome to five years ago, fellas.


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State Fair Coliseum USA 1964 (10" picture disc LP)
Cat: BEATLP 14. Rel: 08 Feb 19
Intro (1:20)
Twist & Shout (1:22)
You Can't Do That (2:37)
All My Loving (2:42)
She Loves You (2:40)
Things We Said Today (2:28)
Roll Over Beethoven (2:59)
Can't Buy Me Love (2:39)
If I Fell (2:28)
I Want To Hold Your Hand (2:26)
Boys (2:50)
A Hard Day's Night (2:45)
Long Tall Sally (1:36)
State Fair Coliseum USA 1964 (limited numbered clear vinyl 10" LP)
Cat: BEATLP 13. Rel: 04 Jan 19
If I Feel (2:17)
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The Complete Chess Singles A's & B's 1955-61 (trifold 3xLP)
Cat: RTRLP 04. Rel: 01 Nov 18
Maybelline (2:21)
Wee Wee Hours (3:04)
Thirty Days (To Come Back Home) (2:24)
Together (We Will Always Be) (2:39)
No Money Down (2:59)
The Downbound Train (2:50)
Drifting Heart (2:51)
Brown Eyed Handsome Man (2:18)
Too Much Monkey Business (2:56)
You Can't Catch Me (2:44)
Havana Moon (3:08)
School Day (Ring Ring Goes The Bell) (2:42)
Oh Baby Doll (2:18)
Deep Feeling (2:37)
Lajuanda (3:13)
Rock & Roll Music (2:32)
Blue Feeling (3:02)
Sweet Little Sixteen (3:02)
Reelin' & Rockin' (3:15)
Johnny B Goode (2:39)
Around & Around (2:42)
Beautiful Delilah (2:11)
Vacation Time (2:48)
Carol (2:49)
Hey Pedro (1:54)
Sweet Little Rock & Roller (2:21)
Jo Jo Gun (2:46)
Run Rudolph Run (2:44)
Merry Christmas Baby (3:14)
Anthony Boy (1:52)
That's My Desire (2:14)
Almost (2:21)
Little Queenie (2:42)
Back In The USA (2:27)
Memphis, Tennessee (2:11)
Broken Arrow (2:22)
Childhood Sweetheart (2:44)
Let It Rock (1:45)
Too Pooped To Pop (2:35)
Bye Bye Johnny (2:07)
Worried Life Blues (2:11)
I Got To Find My Baby (2:16)
Mad Lad (2:10)
Jaguar & Thunderbird (1:49)
Our Little Rendez Vous (2:00)
I'm Talking About You (1:50)
Little Star (2:47)
Come On (1:49)
Go-Go-Go (2:34)
The Original EP Collection No 1 (limited white vinyl 10" LP)
Cat: CHUCK EP1. Rel: 09 Jul 18
School Day (Ring! Ring! Goes The Bell) (After School Session EP) (2:43)
Rock & Roll Music (Rock & Roll music EP) (2:29)
La Jaunda (Espanol) (3:12)
Marilyn MONROE/VARIOUS
Some Like It Hot (Soundtrack) (picture disc LP)
Cat: MOVIE 3. Rel: 03 May 18
Marilyn Monroe, Matty Malneck & His Orchestra - "Runnin' Wild" (1:06)
Adolph Deutsch & His Orchestra - "Sugar Blues/Runnin' Wild" (1:29)
The Society Syncopators - "Down Among The Sheltering Palms" (1:57)
Unknown Artist - "Randolph Street Rag" (1:26)
Marilyn Monroe, Matty Malneck & His Orchestra - "I Wanna Be Loved By You" (2:55)
Adolph Deutsch & His Orchestra - "Park Avenue Fantasy" (3:31)
Adolph Deutsch & His Orchestra - "Down Among The Sheltering Palms/La Cumprasita/I Wanna Be Loved By You" (2:17)
Marilyn Monroe, Matty Malneck & His Orchestra - "I'm Through With Love" (2:31)
Adolph Deutsch & His Orchestra - "Sugar Blues/Tell The Whole Darn World" (3:24)
Play It Again Charile (1:48)
Matty Malneck & His Orchestra - "Sweet Georgia Brown" (2:55)
The Society Syncopators - "By The Beautiful Sea" (1:22)
Matty Malneck & His Orchestra - "Some Like It Hot" (1:46)
GI Blues (reissue) (picture disc LP)
Tonight Is So Right For Love (2:13)
What's She Really Like (2:18)
Frankfort Special (2:56)
Wooden Heart (2:04)
GI Blues (2:36)
Pocketful Of Rainbows (2:36)
Shoppin' Around (2:25)
Big Boots (1:32)
Didja' Ever (2:37)
Blue Suede Shoes (2:07)
Doin' The Best I Can (3:12)
Tonight's Alright For Love (1:23)
Radio Sessions 1963-1964 Vol 1 (gatefold red vinyl 2xLP)
Cat: STONES 2LP1. Rel: 05 Jul 19
Menphis Tennessee (2:20)
Don't Lie To Me (1:44)
You Better Move On (2:37)
I Wanna Be Your Man (1:50)
Mona (2:14)
Walking The Dog (2:36)
(Get Your Kicks On) Route (2:31)
Cops & Robbers (3:47)
Hi-heel Sneakers (1:49)
Little By Little (2:29)
I Just Want To Make Love To You (2:15)
I'm Moving On (2:08)
Not Fade Away (2:00)
Radio Sessions 1964-1965 Vol 2 (gatefold blue vinyl 2xLP)
Down In The Bottom (2:41)
You Can Make It If You Try (2:11)
Confessin' The Blues (2:58)
Down The Road Apiece (1:56)
It's All Over Now (3:25)
If You Need Me (2:11)
I Can't Be Satisfied (2:31)
Crackin' Up (2:16)
Ain't That Loving You Baby (1:53)
2120 South Michigan Avenue (3:44)
Everybody Needs Someone To Love (3:32)
The Last Time (3:07)
Mercy Mercy (2:54)
Cry To Me (3:04)
Fannie Mae (2:14)
(I Can't Get No) Satisfaction (3:43)
The Spider & The Fly (3:13)
Oh Baby (We Got A Good Thing Going) (1:50)
Northern Soul: Keep The Faith (picture disc LP)
Cat: RTRLP 03. Rel: 24 Jul 18
Roy Hamilton - "Earthquake" (2:34)
Robert Knight - "Free Me" (2:35)
Lou Johnson - "If I Never Get To Love You" (2:16)
The 5 Royales - "Catch That Teardrop" (2:29)
HB Barnum - "It Hurts Too Much To Cry" (2:13)
Tommy Hunt - "Didn't I Tell You" (2:26)
Marv Johnson - "Come To Me" (2:17)
Benny Spellman - "Fortune Teller" (2:11)
Big Al Downing - "Heartbreak Hill" (2:17)
Johnnie Taylor - "Rome (Wasn't Built In A Day)" (2:45)
Little Eva - "Keep Your Hands Off My Baby" (2:30)
Bobby Bland - "Turn On Your Love Light" (2:36)
Big Al Downing - "The Story Of My Life" (2:40)
The Exciters - "Tell Him" (2:29)
Benny Spellman - "Lipstick Traces" (2:25)
The Pentagons - "I Wonder (If Your Love Will Ever Belong)" (2:21)
Anyway Anyhow Anywhere (picture disc LP)
Cat: THEWHOPD 1. Rel: 01 Jan 90
Anyway, Anyhow, Anywhere (2:42)
Just You & Me, Darling (2:01)
Leaving Here (2:35)
Good Lovin' (1:49)
My Generation (3:24)
The Good's Gone (3:01)
La La Lies (2:16)
Substitute (3:32)
Man With Money (2:35)
Dancing In The Street (2:26)
Disguises (3:01)
I'm A Boy (2:40)
state fair coliseum usa 1964
anyway anyhow anywhere
gi blues (reissue)
northern soul: keep the faith
radio sessions 1963-1964 vol 1
some like it hot (soundtrack)


Paul Martin's gig and travel blog starts... as does the month of April begin... and he prepares for the next adventure... leaving Tucson to undertake the nomadic musical journey through the western states and maybe even into Canada. Stay Tuned!
Everything seems to be falling into place. I might say "finally" falling into place, but... hey, maybe the time is just right. After closing on 7 homes in the last 3 weeks (mine included), I'm definitely ready to move on and hit the road. I've been living in the Lance 2295 since September making some small adjustments, acclimating to the smaller space (from 1344 sq ft to 176 sq ft), and planning for the next adventure.
In addition to home sales business, March was busy musically for me with 9 gigs, including 3 house concerts, a St Patrick's Day Party, a Spring Fling Dinner Party Concert, and a Park Fest at Palo Verde Park.
April starts with my first time at the Tucson Folk Festival on the 6th, then Cyclovia Tucson the next day, performing on the Historic Y Community Stage. One the 23rd I'll be playing in an Acoustic Showcase at the Public Brewhouse. My Farewell Concert is on the 28th at Far Horizons East. The next day I'm leaving Tucson... going to get my solar system installed - a must for boondocking!
I've returned to my life as a retired boomer and full-time nomad. Previously, I spent 7 years traveling and living in a 30 ft Airstream. I came off the road in 2013, landing in Tucson, AZ. Now I'll be touring through the western states with my Lance 2295 travel trailer and 2015 Nissan Titan. I'm going to focus on my music, songwriting, and performing as I travel. As a singer-songwriter, my original songs include stories from my travels, experiences in personal growth, my evolving humanist worldview, the joys and heartaches of love, the realizations of aging and mortality, and my passion for social justice, equality, and peace. Cover songs in my repertoire include folk, folk-rock, soft-rock, oldies, and contemporary tunes.


text:
Felix H. Wilkinson
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Ten Great Documentary Films
felixhwilkinson September 25, 2020
This is a personal selection of some of the best documentaries I have watched over the years. If you manage to watch any of them I hope you enjoy them as much as I have. If you have any of your own best docs to watch, please add them to comments. I love to watch a documentary!
1. Eyes On The Prize
I first saw this documentary in the late eighties on the BBC. I was mesmerised by it. Probably the definitive account of the Civil Rights Movement in America, it's in two series. Eyes on the Prize: America's Civil Rights Years 1954–1965 charts the early years of the movement. Episode one begins with the horrific murder of Emmet Till in1955. A fourteen year old boy, who when visiting the south from Chicago was too friendly with a white woman in a grocery store. For that he was beaten to death. This is a very disturbing story but one that has to be seen, Emmet Till's murder was the spark that lit the fire of the movement.
Eight more hours were broadcast in 1990 as Eyes on the Prize II: America at the Racial Crossroads 1965–1985. It looks at the disillusionment with peaceful protest and the rise of the Black Panthers.
My personal opinion is that it's one of the best documentary series ever made. Thats why its number one out of ten great documentary films. It had several different directors, and was produced by Henry Hampton of Blackside Productions.
2. Why We Fight
Eugene Jarecki's 2005 documentary Why We Fight begins with an excerpt from the final speech of president Dwight D Eisenhower. Given on national TV, he warns the nation of the growing influence and danger of what he termed the Military Industrial Complex. His call to curb the alliance between the military and the defence industry fell on deaf ears and the United States has been involved in the business of war ever since. Why We Fight examines why the American Empire has embarked on a series of wars by interviewing the veterans of the Vietnam and Iraq wars, experts on US foreign and military policy and journalists who have followed the conflicts. There is a very moving scene where a man who lost his son in 911 explains how he believed the rhetoric of the government in the early days of the war and his gradual realisation of the lies he was being told.
Eugene Jarecki has made some stunning political documentaries, The House I Live In, Reagan and The Trials of Henry Kissinger. His brother Andrew also makes documentary films – of a very different style – Capturing the Friedmans is well worth a view.
3. The Dust Bowl
No list of documentary films would be complete without mentioning Ken Burns. The Dust Bowl is one of my favourites. Made in 2004, it's four episodes examine the impact of the Dust Bowl on the United States during the Great Depression. It's a harrowing story. I had no idea of what the dust storms were like – whole days went by in darkness because of the huge clouds of dust in the sky. A man made disaster, it really is a warning from history to treat our earth kindly.
Ken Burns charts American life and history beautifully, from The Central Park Five to a three part series on Prohibition he unearths injustices and gives the viewer an real understanding of historical events.
4. Ingrid Bergman: In Her Own Words – The Life And Work of a Legendary Actress
Ingrid Bergman: In Her Own Words – The Life And Work of a Legendary Actress was made by Stig Björkman this is a very moving and interesting film about the legendary Swedish Hollywood star Ingrid Bergman is a welcome respite. What a life! Three marriages, four children, a career in films that spanned six decades, winner of three Oscars and also a success in theatre and television. Her life story is told by excerpts from her diaries and with clips from her extensive home movies. Her children also talk about her and their lives with her. One thing that really comes across is her modesty and self effacement. She was willing to move on and start a whole new life several times in her life – and performing always came first. A breath of fresh air in these celeb laden days.
5. The Century of The Self
There is nothing British documentary maker, Adam Curtis has made that I don't think is wonderful!! Many of his documentaries I have watched over and over again, gleaning more knowledge with each replay. They are polemics packed full of information, illustrated with film clips and news reels. Everyone's a winner! The Century of The Self made in 2002 traces the history of the psychoanalysts Sigmund Freud and his daughter Anna. Its a complex story of how we as a society have become obsessed with our desires and it explores the various ways that governments and corporations have used Freud's theories. A little known figure in 20th century history is Freud's nephew Edward Bernays but he was important in shaping modern capitalism and politics. Curtis shows how Bernays has had a huge impact with his use of Freud's analysis in advertising and PR. Other top docs from Curtis are The Mayfair Set, The Power of Nightmares and The Trap: What Happened To Our Dream of Freedom.
6. I Am Not Your Negro
James Baldwin was a black, gay novelist, poet, essayist and activist. He died in 1987. I Am Not Your Negro , made in 2016 is based on Baldwin's unfinished manuscript Remember This House. Narrated by Samual L. Jackson the film uses Baldwin's reminiscences to explore racism in the United States of America.
I have to add another documentary with this one and that is John Akomfrah's film about Stuart Hall. Made in 2013, The Stuart Hall Project is an exploration of cultural historian Stuart Hall's ideas and work.
7. Paris Is Burning
Paris Is Burning is a 1990 American documentary made by Jennie Livingston. I love this movie – it makes me want to get up and dance. The people she meets are so stylish and interesting. They are captured forever on celluloid, but one wonders what happened to them as the AIDS epidemic took hold in America. Its a very moving film that looks at sexuality, race, class and gender with an warm generous eye.
8. The Spirit of '45
But back to Britain and a very different time. The Spirit of '45 is a 2013 documentary film by director Ken Loach. Renowned for his gritty dramas that often use real people instead of actors and tell stories from the underbelly of society in this he looks at what might have been if the post war dream of equality and fairness had been allowed to continue. Radical changes took place after the Second World War when a Labour government intent on change was voted in by a landslide. Full of archive footage and interviews the film looks at the poverty in Britain before WW2 and the ideas for a welfare state that blossomed during and after the war. Nationalisation of key industries and the development of the National Health Service, all great achievements which were later undermined by Thatcher and successive governments.
9. Ordinary Miracles The Photo League's New York
Ordinary Miracles The Photo League's New York, made by Danial Allentuck this is the fascinating story of The Photo League which thrived in New York between 1936 and 1951. Many of its members became leading exponents of documentary photography. Many went on to become war correspondents in WW2, the leagues members documented America often showing the other side of the American Dream. The communist witch hunts, which gathered pace after the war were to be the leagues downfall. Its a wonderful film illustrated with the photographs of the leagues members. Well worth watching.
10. Paula Rego Secrets And Stories
Paula Rego Secrets And Stories. This captivating film directed by her son Nick Willing gives us an insight into the world of renowned painter Paula Rego. Born in Portugal in 1935 she grew up in a misogynist fascist dictatorship and then moved to London where she studied at the Slade. I was never a great fan of her work but over the years it grew on me and watching this film made me look at it all over again. Willing uses home movies and family photographs and interviews to paint a vivid picture of his mother's life.
Here are some highly recommended documentaries that didn't get into my ten great documentary films list, but are really good.
Beautiful Losers by Aaron Rose and Joshua Leonard is a film that focuses on artists such as Barry McGee, Margaret Kilgallen, Steven Power, Chris Johanson and Shepard Fairey.
Become A Microscope by Aaron Rose, a short film about artist, educator and nun Sister Corita Kent.
Another great art film is The Cool School by Morgan Neville. About the art scene in LA during the fifties and sixties focussing on the Ferus gallery and curator Walter Hopps.
And no list of documentaries would be complete without mentioning Alex Gibney, he has made so many films and they are all really interesting. I think my favourite would be Finding Fela.
This was compiled by Felix H. Wilkinson. Find out more about Felix…
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Guinevere's (my rescued Meller's chameleon, who I've mentioned quite a bit on the blog over the last year and a half) mouth issues seem to be returning. As you may remember from all the previous blogs on the subject that she came to me with a respiratory infection, mouth rot/stomatitis, and an infection in her right eye. It took us about 6 months of Baytril, Silver Sulfadiazine, Tobramyacin ointment, and several other products to clear everything up.
Now it seems like the stomatitis has returned and her gums are once again swollen and sensitive. The first thing I would recommend in a case like this is to go to the vet for some proper antibiotics. (I don't want anyone to think I'm advocating not seeking professional help in the case of an injury or infection, or to seek out home-remedies unless you are experienced and/or have some professional guidance. I have several vet friends that I consult with, so I run most of my plans through them first.) And it is still something I plan on doing down the line if I need to, however, because antibiotics like Baytril are particularly hard on sensitive chameleons like T. melleri, I want to hold off for the moment.
reptile world that traditional medications can have limited success and debilitating side effects.
not intended to diagnose, treat, cure or prevent any disease."
So the claims are pretty bold, right? It treats all types of infections and even claims to fight tough parasites like coccidia. But others claim that it is the first product they reach for when they have a mild infection (like a respiratory infection) in a chameleon and that since they've started using it they haven't needed to use antibiotics in several years. So ok, color this skeptic intrigued at the very least. Lets give it a try then and see what happens. I ordered the XL version because it is for reptiles over 250 grams in weight, which all the Meller's are. If you have a typical panther or veiled you probably will not need this size.
So today, on July 23, 2014 I started Guinevere on her first dose of Reptaid, along with a few CCs of Carnivore Care. I am going to supplement her diet in the next few days with a little Carnivore Care (which is a powdered food diet specifically for carnivores that need the nutritional boost) because her mouth is sore, which makes shooting at and eating insects difficult for her. And because the last thing I want her to do is to lose weight (especially if we have to start on something stronger, like antibiotics) I don't want her to be weakened at all. Additionally, I have been chatting back and forth with a fellow melleri keepers and we believe that we may be missing something from their diet that they would get in the wild, and my guess is that it may be higher levels of protein or some other nutrient that is specific to vertebrate food, whether it's fatty acids or whatnot.
I am also mixing in organic baby food (checking for no added sugars, salts, etc.) to sweeten the mix, as Reptaid tastes pretty awful.
So between the Reptaid, the insect diet supplemented with Carnivore Care, and perhaps some use of the Silver Sulfadiazine cream on her gums again I hope we can get the infection to subside without using anything too harsh on poor Guinevere. And in the meantime I will document my findings with this product in a few weeks and give my honest review about the product. And then in a few months I hope to do a second review of the product, in how it has helped Guinevere long-term. If the infection disappears and does no reappear (or if it does), for example, I want to include it in that second review.
So, wish us luck! And I would love to hear any first-hand accounts of how Reptaid has worked (or not) for your animals, so please leave a comment about it below.
Hi, how is your chameleon doing?, did the products work?
She seems to be doing Ok so far, thank you for asking! I haven't seen a night and day difference but I do see subtle improvements so we'll see. I still want to wait a couple more weeks before doing a review. She seems stronger to me so that's a plus!
Any updates on the Reptaid?
I'm working on a part II right now, but unfortunately Guinevere did not make it. After a handful of weeks I was not seeing any dramatic changes for the better so we returned to the vet for tests and medication. She seemed to be doing fine, eating and acting relatively normally, but passed away in her sleep one night. We're sad but we know we did anything and everything for her, and that she lived like the queen she was for almost 2 years with us.


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text:
Uneasy Money
Commentary on monetary policy in the spirit of R. G. Hawtrey
« Ludwig von Mises and the Great Depression
Japan's 2-Decade Experiment with Fiscal Austerity (or Stimulus) and -0.3% Annual NGDP Growth »
Am I Being Unfair to the Gold Standard?
Published February 12, 2012	Cassel , gold standard , Hawtrey , Hayek , monetary policy , monetary theory 38 Comments
Kurt Schuler takes me (among others) to task in a thoughtful post on the Free-Banking blog for being too harsh in my criticisms of the gold standard, in particular in blaming the gold standard for the Great Depression, when it was really the misguided policies of central banks that were at fault.
Well, I must say that Kurt is a persuasive guy, and he makes a strong case for the gold standard. And, you know, the gold standard really wasn't fatally flawed, and if the central banks at the time had followed better policies, the gold standard might not have imploded in the way that it did in the early 1930s. So, I have to admit that Kurt is right; the Great Depression was not the inevitable result of the gold standard. If the world's central banks had not acted so unwisely – in other words, if they had followed the advice of Hawtrey and Cassel about limiting the monetary demand for gold — if the Bank of France had not gone insane, if Benjamin Strong, Governor of the New York Federal Reserve Bank, then the de facto policy-making head of the entire Federal Reserve System, had not taken ill in 1928 and been replaced by the ineffectual George L. Harrison, the Great Depression might very well have been avoided.
So was I being unfair to the gold standard? OK, yes, I admit it, I was being unfair. Gold standard, you really weren't as bad as I said you were. The Great Depression was really not all your fault. There, I'm sorry if I hurt your feelings. But, do I want to see you restored? No way! At least not while the people backing you are precisely those who, like Hayek, in his 1932 lament for the gold standard defending the insane Bank of France against accusations that it caused the Great Depression, hold Hawtrey and Cassel responsible for the policies that caused the Great Depression. If those are the ideas motivating your backers to want to restore you as a monetary standard, I find the prospect of your restoration pretty scary — as in terrifying.
Now, Kurt suggests that people Ron Paul are not so scary, because all Ron Paul means when he says he wants to restore the gold standard is that the Federal Reserve System be abolished. With no central bank, it will be left up to the market to determine what will serve as money. Here is how Kurt describes what would happen.
If people want the standard to be gold, that's what free banks will offer to attract their business. But if people want the standard to be silver, copper, a commodity basket, seashells, or cellphone minutes, that's what free banks will offer. Or if they want several standards side by side, the way that multiple computer operating systems exist side by side, appealing to different niches, that's what free banks will offer. A pure free banking system would also give people the opportunity to change standards at any time. Historically, though, many free banking systems have used the gold standard, and it is quite possible that gold would re-emerge against other competitors as the generally preferred standard.
Now that's pretty scary – as in terrifying – too. As I suggested in arecent post, the reason that people in some places, like London, for instance, seem to agree readily on what constitutes money, even without the operation of legal tender laws, is that there are huge advantages to standardization. Economists call these advantages network effects, or network externalities. The demand to use a certain currency increases as other people use it, just as the demand to use a computer operating system or a web browser increases as the number of people already using it increases. Abolishing the dollar as we know it, which is what Kurt's scenario sounds like to me, would annihilate the huge network effects associated with using the dollar, thereby forcing us to go through an uncertain process of indefinite length to recapture those network effects without knowing how or where the process would end up. If we did actually embark on such a process, there is indeed some chance, perhaps a good chance, that it would lead in the end to a gold standard.
Would a gold standard associated with a system of free banking — without the disruptive interference of central banks — work well? There are strong reasons to doubt that it would. For starters, we have no way of knowing what the demand of such banks to hold gold reserves would be. We also have no way of knowing what would happen to the gold holdings of the US government if the Federal Reserve were abolished. Would the US continue to hold gold reserves if it went out of the money creation business? I have no idea. Thus, the future value of gold in a free-banking system is thus completely unpredictable. What we do know is that under a fractional reserve system, the demand for reserves by the banking system tends to be countercyclical, going up in recessions and going down in expansions. But what tends to cause recessions is an increase in the demand of the public to hold money. So the natural cyclical path of a free-banking system under a gold standard would be an increasing demand for money in recessions, associated with an increasing monetary demand for gold by banks as reserves, causing an increase in the value of gold and a fall in prices. Recessions are generally characterized by declining real interest rates produced by depressed profit expectations. Declining real interest rates increase the demand for an asset like gold under the gold standard with a fixed nominal value, so both the real and the monetary demand for gold would increase in recessions, causing recessions to be deflationary. Recessions with falling asset prices and rising unemployment and, very likely, an increasing number of non-performing loans would impair the profitability and liquidity of banks, perhaps threatening the solvency of at least some banks as well, thereby inducing holders of bank notes and bank deposits to try to shift from holding bank notes and bank deposits to holding gold.
A free-banking system based on a gold standard is thus likely to be subject to a shift in demand from holding bank money to holding gold, when it is least able to accommodate such a shift, making a free-banking system based on a gold standard potentially vulnerable to a the sort of vicious deflationary cycle that characterized the Great Depression. The only way out of such a cycle would be to suspend convertibility. Such suspensions might or might not be tolerated, but it is not at all clear whether or how a mechanism to trigger such a suspension could be created. Insofar as such suspensions were expected, the mere anticipation of a liquidity problem might be sufficient to trigger a shift in demand away from holding bank money toward holding gold, thereby forcing a suspension of convertibility. Chronic suspensions of convertibility would tend to undermine convertibility.
In short, there is a really serious problem inherent in any banking system in which the standard is itself a medium of exchange. The very fact that gold is money means that, in any fractional reserve system based on gold, there is an inherent tendency for the system to implode when there is a loss of confidence in bank money that causes a shift in demand from bank money to gold. In principle, what would be most desirable is a system in which the monetary standard is not itself money. Alternatively, the monetary standard could be an asset whose supply may be increased without limit to meet an increase in demand, an asset like, you guessed it, Federal Reserve notes and reserves. But that very defect is precisely what makes the Ron Pauls of this world think that the gold standard is such a wonderful idea. And that is a scary — as in terrifying — thought.
38 Responses to "Am I Being Unfair to the Gold Standard?"
1 Mike Sproul February 12, 2012 at 10:05 pm
A neglected point is that there are degrees of being on the gold standard. If the central bank closes for a weekend, we are off the gold standard for two days. What if gold convertibility is suspended for 30 days? for 30 years? What if one central bank holds huge amounts of gold but hasn't paid out any for 79 years? What if another has maintained gold convertibility but has low gold reserves? There are dozens, maybe hundreds, of different central bank behaviors that each could be called, in some way, "being on the gold standard", and each of those behaviors can be pursued to varying degrees. As soon as you take a hard look at any definition of the gold standard, all you see is gray areas.
But there is one aspect of a central bank that doesn't dissolve into gray areas: its balance sheet. Some balance sheets are healthy and some are not. This is where economists should be looking, not at some undefinable thing they call the gold standard.
2 Bill Woolsey February 13, 2012 at 4:09 am
You miss the key role of suspension using an option clause during these supposed deflationary spirals.
Also, network effects means that allowing people to use alternative monies is unlikely to have much effect, not result in a loss of network efficiencies.
In my view, if the U.S. is going to go onto a gold standard, then Federal Reserve notes would have to become redeemable in gold at some price, and then, as a separate matter, partial or complete privatization could be implemented. (Schuler is advocated complete privativation.)
Paul is a bit worrisome. I think he considers our current fiat currency system as being fated to hyperinflationary disaster. Letting people use gold will make it easier to switch over during this inevitable demonitation of fiat money. This is worrisome because I don't know that Paul would have any plan to reduce the current inflated quantity of base money as the demand for it falls over the next few years.
But maybe I am wrong.
Keven Dowd recently told me he favors a return to gold. White has written something about it. I think they are sensible.
But don't get me wrong. I think your critique of the gold standard gets to the central problem. In fact, I would say the basic problem is that there are two framings of the gold standard. Gold is money with fixed quantity–oh, and we do mine a bit and use some for jewelry. The other is that gold is a good that is mined and used for jewelry and the like, and it can be used as the medium of account, so that everything is priced in gold, including monetary liabilities denominated in terms of the unit of account. Shifts between the two framings (though concretely only to the degree this really impacts the demand for gold) has the potential to cause substantial macroeconomic instability.
demonitation? lol
Demonetization.
4 Steve February 13, 2012 at 8:04 am
Sounds like a reason for NGDP targeting. If we are all transacting in NGDP scrip, there's no reason to hoard in a recession, indeed, the opposite.
5 Floccina February 13, 2012 at 8:26 am
I am half kidding with this: I think that the best thing about the gold standard/fee banking is that it might allow us to evolve away from gold.
IMO we need to eliminate the feedback in the monetary system. We need to reverse the feedback, to where a bank failure strengthens other banks insensitivizing them to spend and lend more. I think that fee banking can evolve to such a system. On he other hand government evolves very slowly.
Also IMO we need more diversity in the monetary system.
6 Luis H Arroyo February 13, 2012 at 9:17 am
Well, I never have understood Well the Ron Pauls. In Spain we have a lot – they confound gold with prosperity- in spite our participation in gold standard was episodical. I think it is a derivative effect of the constant search of over simplicity, the Primary Cause of all the causes. Gold as the ultimate response. Gold Will end with all economic problems. God and Gold. Perhaps there is a coincidence between both mentalities, in the sense of searching an unique principle. I'm not criticising religion, but a form of over simplifing the complexity of te world.
7 David Glasner February 13, 2012 at 10:33 am
Mike, Thanks for a really insightful comment. The way I would put it is that the gold standard corresponds to a certain set of expectations in which the value of money corresponds to the value of gold, and that the equivalence in value is supported by a web of arbitrage transactions that prevent money prices from deviating significantly from the corresponding prices in terms of gold. If expectations are held firmly enough, there is no need or incentive to withdraw gold to undertake such arbitrage transactions. That's why the impossibility of gold redemptions on weekends doesn't matter. Temporary suspensions of convertibility only matter once expectations of equivalence begin to be undermined. Balance-sheet effects clearly play a role in maintaining expectations of equivalence, but a strong balance sheet is not necessarily sufficient to support those expectations.
Bill, You are right that I left out any discussion of the option clause. I didn't want to introduce an additional complicating issue, so I was implicitly subsuming the option clause under the heading of a temporary suspension of convertibility, which may not be strictly correct, but didn't seem to me to be totally wrong either.
You are also right that just allowing people to use alternative monies would not destroy network effects. That's why I think that legal tender laws do not matter in the US. The network effects are so strong, that only a few lunatic gold bugs would actually try to use gold as money if all legal restrictions (which I don't think are all that important) were completely lifted. So to get a change in the current monetary system, Ron Paul and company would have to make Federal Reserve Notes and Reserves unavailable for future use, thereby forcing people to find alternative media of exchange and media of account. In areas near the Canadian and Mexican border, I suspect, the Canadian dollar and the Mexican Peso would quickly become the most widely used currencies. But the whole idea seems so far-fetched to me that I have trouble even imagining how it would work out. That's why I suggested that the result might be the annihilation of the network effects now embodied in the use of the US dollar.
Kevin Dowd and Larry White are good economists and smart guys. I can see a path to converting the US dollar to a gold standard, but I don't see a path to abolishing the US dollar and allowing the market to choose a new monetary standard. That idea seems completely unworkable to me.
Steve, Sorry I have no idea what it means to transact in NGDP scrip.
Floccina, When you work it out, let me know.
Luis, Well, Spanish history is very much a story of the search for and the accumulation of gold, is it not? And Spanish history is very much a story of religion, perhaps more so than in any other European country. So there you are.
8 Greg Ransom February 13, 2012 at 11:23 am
Hayek would seem to be simply factually wrong about this:
"France did not prevent her monetary circulation from increasing by the very same amount as that of the gold inflow"
There is more evidence for Hayek not know the true facts of that matter than for anything else:
Is there any good paper pointing out the differences between what we know today, and what computer generated statistical relations between data we now have at our finger tips, as compared to what folks had at hand in, say, 1931?
9 Benjamin Cole February 13, 2012 at 12:20 pm
Gold standard, oh P.U. Really, the gold standard is Econo-Shamanism, and Theo-Monetarsism half-baked together. Yes, if we genuflect to gold, we reach economic salvation.
In the real world, you must have tax and reg system that promotes growth, a civil culture with contract and property law, and a healthy expanding money supply. A dollar bill represents your claim on output, for which you will exchange labor or something of perceived equal value. At times, we can get more people to work by printing more money. At times, we can even monetize debt to everyone's benefit. These are rare times, but great cures when you need them.
10 Luis H Arroyo February 13, 2012 at 12:45 pm
Well, I rather would say Spanish history is very much a story of a certain religion…
France is a history of another religion, same name, but very oposed to spanish one, perhaps because of continious war confrontations.
And US has also its own religious history, ver much related wtih liberaslism and american democracy -I think. As Adam Smith could see…
11 Lucas February 13, 2012 at 4:35 pm
As a citizen of the world, the idea that Ron Paul could be president of the most powerful nation on Earth gives me nightmares. I'm not a libertarian but I do recognize that the public should be more exposed to libertarian ideas, principles and policies. However, it's really unfortunate that these ideas are promoted by a crackpot attached to every outlandish idea such as Rothbardian monetary economics, medical quackery [1, 2, 3], diverse conspiracy theories, neo-Confederate pseudohistory, racism and others.
Proponents of a modern gold standard have to explain how governments won't implement policies (even those unrelated to monetary affairs) which could undermine or destroy it. It happened before and it's likely to happen again.
1- http://en.wikipedia.org/wiki/Association_of_American_Physicians_and_Surgeons
2- http://conwebwatch.tripod.com/stories/2005/medicine.html
3- http://motherjones.com/politics/2009/11/tea-party-doctors-american-association-physicians-surgeons
12 Steve February 13, 2012 at 9:20 pm
"I have no idea what it means to transact in NGDP scrip"
Sorry David, my fingers got ahead of my brain when I wrote that.
I've been trying to imagine a world with NGDP-indexed debt contracts. Savings bonds implicitly redeemable for a share of NGDP. My intuition is that there would be all sorts of political economy benefits but I'm hoping someone else will think it through.
13 David Glasner February 14, 2012 at 9:20 am
Greg, Sorry, like Hayek, you don't understand that under the gold standard, no country has the power to control the quantity of money in circulation. The stance of its policy affects not the quantity of money in circulation but the rate at which its reserves increase. France was simultaneously increasing its reserves and converting its reserves into gold. That's why it was an insane policy. Doug Irwin's paper is about the accumulation of gold reserves, not about the quantity of money in circulation. Hayek looked at the quantity of money in France and said that the accumulation of gold reserves didn't matter because the quantity of money increased by more than the increase in French gold reserves. Hayek was not mistaken about the facts; he didn't properly understand the theory. I repeat, underscore, and italicize: Hayek's misunderstanding of the gold standard was not about facts; it was about theory.
Benjamin, Well said and to the point as usual.
Luis, Actually, if we go back a mere 500 years, Spanish history is about three religions.
Lucas, Thanks for providing some additional info about Dr. Paul. Don't worry, Dr. Paul's chances of becoming President of the United States are not much better than mine. I think that he is likely to be even less of a factor this time than in 2008.
Steve, Thanks. I have long felt that all indexed payments, e.g., social security benefits, should be indexed to nominal GDP.
14 Mike Sproul February 14, 2012 at 9:46 am
"under the gold standard, no country has the power to control the quantity of money in circulation"
Let's say that my idea of being on the gold standard is that for one day each year, the central bank stands ready to redeem its paper dollars for 1/1000 oz. of gold, up to a limit of $10 billion. If the Fed's balance sheet is healthy, people might not bother to redeem. If the balance sheet looks bad, then people will redeem $10 billion every year. This means that:
1) The balance sheet matters.
2) During the year, the Fed can use open market operations to move the quantity of money all over the place, especially if the open market operations leave the Fed's net worth unchanged.
3) Money that is backed and (occasionally) convertible could easily be mistaken for fiat money. In fact, every so-called fiat money that I know of looks to me like it is backed, just not convertible into gold.
15 Greg Ransom February 14, 2012 at 10:13 am
We know that Hayek did not consider what was operating as a "gold bullion standard" during the 1920s-1930s to be at all the same thing as the gold standard of the pre-war period, and he had arguments for the gold standard and against the gold bullion standard. It part Hayek is evaluating nations on whether they are moving toward the gold standard and away from the gold bullion set up.
Could you make it crystal clear whether you think Hayek is right or wrong about the facts when Hayek says this:
It would a real benefit if you would spell out the details of this:
"Sorry, like Hayek, you don't understand that under the gold standard, no country has the power to control the quantity of money in circulation. The stance of its policy affects not the quantity of money in circulation but the rate at which its reserves increase. France was simultaneously increasing its reserves and converting its reserves into gold. That's why it was an insane policy. Doug Irwin's paper is about the accumulation of gold reserves, not about the quantity of money in circulation. Hayek looked at the quantity of money in France and said that the accumulation of gold reserves didn't matter because the quantity of money increased by more than the increase in French gold reserves. Hayek was not mistaken about the facts; he didn't properly understand the theory. I repeat, underscore, and italicize: Hayek's misunderstanding of the gold standard was not about facts; it was about theory."
This is where you actually locate the failure in Hayek's scientific thinking and not in any other place, as far as you have made an argument.
16 David Glasner February 14, 2012 at 1:29 pm
Mike, I think that you are forgetting that under a gold standard, in which the value of currency is pegged to a fixed weight of gold, there is a whole set of arbitrage transactions that take place thereby constraining the value of currency to have the same value as gold. Such transaction would not take place in the absence of convertibility even though the balance sheet of the issuing bank was just as solvent as in the case of convertibility.
I am also a bit puzzled to find you, of all people, asserting that open market operations allow the central bank to control the quantity of money. Certainly under a fixed exchange rate regime, the quantity of money is demand determined, not supply determined, so the central bank cannot control the quantity of money.
Greg, Hayek's use of a gold bullion standard as a benchmark is a carryover, via von Mises, of the incorrect view of the Currency School that a pure gold currency provides some sort of theoretical benchmark for the appropriate adjustment of a national currency under a gold standard. Mises and Hayek were on the wrong side of the Currency School/Banking School debate about the behavior of a mixed gold and paper currency, and their theoretical mistakes are ultimately traceable to their mistaken adoption of the Currency School model. The appropriate way to think about international monetary adjustment is along the lines spelled out by Harry Johnson in his papers on the monetary approach to the balance of payments. I have discussed this at length in my papers on classical monetary theory and in my book Free Banking and Monetary Reform.
You ask:
I am saying that what happened to France's monetary circulation is irrelevant. All that matters is that France was soaking up gold in 1928 and 1929 like a sponge. Indeed, Hayek acknowledged that France's gold reserves were increasing at a very rapid rate after 1928, before absolving the insane Bank of France of any blame for the catastrophe it was instrumental in causing.
I am happy to respond to a specific question about the passage you quote, but to me it seems pretty straightforward, so you will have to point me to what you find unclear.
For some reason, you are reading into what I have written a general critique of Hayek's entire theoretical position. I admire much of what Hayek had to say about business cycles. I agree with some of it, and other parts of it I don't fully comprehend, and am prepared to keep an open mind about. There are, however, issues relating to monetary theory on which I think he was clearly wrong, and it is those issues for which I criticize him. If he had a better handle on monetary theory, he would have realized that Great Depression was entirely or almost entirely a monetary phenomenon, not a cyclical phenomenon. Where he went wrong was on a matter of theoretical understanding, not that he was not conversant with the facts. You simply have no grounds for inferring (quite mistakenly) that my criticism of Hayek's work extends beyond what I have explicitly criticized him on. So I really don't know what your issue is.
17 Mitch February 14, 2012 at 2:13 pm
David, you are, as always, unfailingly polite.
I have always found libertarians (or maybe anarcho-capitalists is fairer) to be the equal of communists. They have a worldview based on a single, totalizing premise, and all reality must fit into it. They don't even seem to think through the most elementary faults with their ideas.
Ok, suppose you and I have a contract. I want to pay you with a (large) bag of seashells. You, naturally, object. In this supposed world, can you haul me into court saying that seashells are not money? If you can't, how is a contract supposed to be enforced? (Are there in fact courts?)
Maybe Schuler will reply, you and I should specify that when we write the contract. But in that case, what's to stop us from writing such a contract now? If people feel that the government is doing such a bad job managing currency, why can't "the market" choose right now to use seashells?
It is all just such palpable silliness. A solution in search of a problem would be the kindest thing you can say about it.
18 Julian Janssen February 14, 2012 at 4:15 pm
I was wondering what you would think of the idea of the U.S. government establishing a credible ceiling on the price of gold as a way to discourage speculation in gold and to encourage real investment… the way I think of it is that the government would unload some of its gold reserves to keep the price of gold stable for a while, to indicate the seriousness of a temporary ceiling. My thought is that the revenues from dumping gold on the market could be used to finance public spending. My thought is that if the Fed undertakes it, it could be monetarily neutral, as long as it uses the revenues to purchase securities and if the Treasury undertakes it, it could be used directly to finance construction projects which add to U.S.'s capital stock. Am I missing something?
19 Greg Ransom February 15, 2012 at 8:32 am
Thanks David. Where do you have a list of the reference for these papers?
Thanks David. This helps alot. This seems very different from what was implied in the thrust of what certainly looked to be essentially intemperate drive by shots at the non-gold standard aspects of the Hayek / Mises trade cycle theory.
"There are, however, issues relating to monetary theory on which I think he was clearly wrong, and it is those issues for which I criticize him. If he had a better handle on monetary theory, he would have realized that Great Depression was entirely or almost entirely a monetary phenomenon, not a cyclical phenomenon. Where he went wrong was on a matter of theoretical understanding, not that he was not conversant with the facts. You simply have no grounds for inferring (quite mistakenly) that my criticism of Hayek's work extends beyond what I have explicitly criticized him on."
Hayek's view of the scoence is that cycle phenomena just monetary phenomena, so the worss in this statement wouldn't seem to bave any coherent meaning:
David writes,
" If he had a better handle on monetary theory, he would have realized that Great Depression was entirely or almost entirely a monetary phenomenon, not a cyclical phenomenon."
Hayek has a money disequilibrium fulcrum to his macro disequilibrium story — there may be better ways to conceive this money disequilibrium fulcrum in an international gold 1920-1930 context, but any fulcrum would equally hook up to the macro disequilibrium story.
Hayek claims the gold standard pre-WWI was set up in a way to engender greater yo-yo-ing, and that after 1920 an unstable system was run truly pahologically. See Hayek's 1937 _Monetary Nationalism and the Trade Cycle_.
In dispute are contested visions of how to move a pathological system away from pathology. It isn't yet clear to me that at bottom differences don't come done to different perceptions of rival desired mechanism — and rival perceptions of consequences of rival short term costs required to move toward rival long term gains.
What we have in part is a failure to perceive cross purposes — and also mistakes about the size and political sustainability of certain costs, i.e. the unemployement cost of sticking out the mistake the British 1925 devaluation.
So there is one more thing we must keep isolated from the pure economic science — the different and rival monetary set up/ideal aimed at.
If you muddle theory with this, and history, and empirical judgments, you have a mess of a muddle, and you don't have clarity on anything.
Hayek's view of the science is that cycle phenomena is just monetary phenomena, so the words in this statement wouldn't seem to have any coherent meaning:
When I said that the central bank can move the money supply all over the place, I should have added "in response to consumer demand". If the central bank issued money that the public didn't want, the money would reflux to the bank. If the central bank somehow blocked the reflux, then that would be tantamount to a partial default by the bank, and a loss of backing for the currency, and inflation would result.
The set of arbitrage transactions that you mentioned takes place under any form of convertibility, not just under gold convertibility. Every channel of reflux is a form of convertibility. So if the central bank routinely trades bonds, the money it issued is convertible into bonds. If the government accepts dollars in payment of taxes, the dollar is convertible into tax payment. Even if the redemptions into bonds and taxes are uncertain, or delayed by years, there will still be arbitrage transactions determining the value of the dollar based on expected future convertibility. Thus a dollar that is really backed and convertible could be wrongly seen as fiat money.
24 Greg Ransom February 15, 2012 at 2:25 pm
Isn't this an argument straight out of Hayek?
"The very fact that gold is money means that, in any fractional reserve system based on gold, there is an inherent tendency for the system to implode when there is a loss of confidence in bank money that causes a shift in demand from bank money to gold."
Mitch, I hope you meant that as a compliment.
There is probably some potential for an interesting social psychological study on the common features of very all-encompassing ideologies like communism and libertarianism which tend to become the dominant aspect of the lives of people who espouse those ideologies. But I think that I had better stop there.
People could contract to make payment in a particular asset. That would be called barter. The nice thing about money is that everybody accepts it, and you don't have to make a special contract. Money reduces transactions costs. That's because everyone else is also using money. That's the network effect.
Julian, I don't see the point. The US is sitting on a huge stockpile of gold, about 25-30% of all the official gold monetary reserves in the world. The US could sell its holdings, but would probably drive down the price of gold if it tried to sell a big share of its gold holdings all at once.
Greg, I published "A Reinterpretation of Classical Monetary Theory" in the Southern Economic Journal in 1985, and "On Some Classical Monetary Controversies " in HOPE in 1989, "The Real Bills Doctrine in the Light of the Law of Reflux" in HOPE in 1992 and "On Classical Monetary Theory and the Quantity Theory of Money" in HOPE in 2000.
You're welcome, Greg, but I really don't understand what you are talking about.
Mike, You said:
But it's only under gold convertibility that the nominal price of gold does not change. So there is a unique set of arbitrage transactions that take place only under gold convertibility.
Greg, You said:
If you mean, would Hayek disagree with what I wrote, the answer is I don't think so. If you mean, did he say the same thing himself, the answer is very possibly. If you mean was he the only one who ever said or even the first one to have said it. Not a chance.
Thanks David. I'll read them.
What I'm working on is a project on the character of economic explanation and the nature of economic science, focused on Hayek.
But imagine if I were working on the character of biological explanation and the nature of biological science in the 1930s, focused on Darwin
If was working on Darwin the 1930s — in the middle of working on the neo-Darwinian synthesis — here's something that would interest me and would get my respect:
A sophisticated, knowledgable, and intelligent account of how Darwin's account of speciation was mistaken.
Here's something that I'd consider blather meant to mislead and marginalize:
An uninformed, off-target, superficial "argument" that Darwin's biology should rightly continue to be ignored because most German and French biologists who engaged Darwin at the time rejected Darwin's biology.
An uninformed, off-target, superficial "argument" that suggesting that Darwin's natural selection & origin of species biology should rightly continue to be ignored because Darwin expressed false empirical claims and judgments about orchids, based on Darwin's misunderstanding of morphology or his failure to know modern DNA science.
Both of these arguments can be found repeatedly in the literature and in the economic blogosphere.
They are bad "arguments" — not meant as arguments at all, but as conversation stoppers.
Greg, You're welcome. As for Darwin and biology, I am not well enough versed in either to respond to your comment.
28 cantillonblog February 22, 2012 at 10:57 am
I am sure that you are more familiar than me with the work that has been done on separating the unit of account (that might in some future world once again be gold) from both the store of value and medium of exchange. The world has changed a great deal from 1914 (when the classical gold standard died), and if the state were to withdraw from involvement with the business of banking, the institutional framework of what we might see emerge would surely be different from how things were done in an era only 50 years after the first transcontinental telegraph wire.
Specifically, the lending function of banks could be undertaken by mutual/hedge funds; the medium of exchange could consist of shares in market-standard low-risk bundles of assets; and people could pick whichever store of value they preferred from the vast range of possibilities offered by the marketplace (including equity, bonds, or short maturity claims denominated in the medium of account).
I suspect all of this comes from reading Cowen + Kroszner many years ago.
Financial panics and the business cycle would continue to be with us. But one might not be right to presume that fractional reserve banking would be the market solution to a restoration of the gold standard.
29 Keith February 24, 2012 at 9:52 am
According to my Webster's an "Asset" is 1) anything owned that has exchanged value, 2) a valuable or desirable thing to have, …
There is no "asset" on this planet that can be increased or created without limit. Yes, Federal Reserve Notes could be created virtually without limit, but they will then cease to be "assets".
In a world of limited resources, value cannot be created without limit. Dollars, whether notes or deposits, are simply small denominations of whatever "asset" is on the other side of the balance sheet: gold, mortages, treasuries — none of which can be created without limit and retain exchange value.
Was away on vacation so I didn't get to say this: Yes, I did mean it as a complement. I couldn't do it.
31 David Glasner February 28, 2012 at 12:04 pm
Keith, The point is to create only as much of the asset as is demanded, no more. If the amount of Federal Reserve notes is increased only to satisfy the increased demand to hold them, their value will not go down, and they remain assets. Value is not created without limit only in proportion to the increase in demand.
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David Glasner
I am an economist in the Washington DC area. My research and writing has been mostly on monetary economics and policy and the history of economics. In my book Free Banking and Monetary Reform, I argued for a non-Monetarist non-Keynesian approach to monetary policy, based on a theory of a competitive supply of money. Over the years, I have become increasingly impressed by the similarities between my approach and that of R. G. Hawtrey and hope to bring Hawtrey's unduly neglected contributions to the attention of a wider audience.
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