The Small Bank Problem: Why We Are 40,000 Properties Away From Recovery - By Econophile (29/7/11) PDF Print E-mail
Econophile   
Friday, 29 July 2011 10:05

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Is Dodd-Frank Regulation Cutting Off Mortgage Credit? (29/7/11) PDF Print E-mail
Administrator   
Friday, 29 July 2011 10:03

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This Is What A Collapsing Ponzi Scheme Looks Like: Housing Market Headed Off A Cliff As A Shocking 10.8 Million Mortgages At Risk Of Default - By David Degraw (29/7/11) PDF Print E-mail
David Degraw   
Friday, 29 July 2011 09:39

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Greenspan's Fatal Conceit - By Jonathan M. Finegold Catalan (28/7/11) PDF Print E-mail
Jonathan M. Finegold Catalan   
Thursday, 28 July 2011 09:25

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Chairman Bernanke, Is Gold Money? - By Rod Rojas (28/7/11) PDF Print E-mail
Rod Rojas   
Thursday, 28 July 2011 09:21

Mises Daily

Last week, when Ron Paul asked the question, "Do you think gold is money?" Fed chairman Bernanke's answer was a resounding no. So, what is money, anyway?

In the simplest terms, money is a commonly used medium of exchange — one that is widely accepted and that serves as an intermediary for trade. As I explained in a previous article,

If you are a plumber, you don't really need money to live (you can't eat money); money just makes it possible for you to indirectly exchange your plumbing services for groceries. If money weren't there, each time you needed food you would have to find a grocer that was in need of plumbing services so that you could barter your services for food.



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