Counter to Ben Bernanke’s The World on a Cross of Gold

Extract from Gold Standards and the Real Bills Doctrine in U.S. Monetary Policy by Richard Timberlake. The references to “Bernanke 1993″ are to Ben Bernanke’s 1993 article “The World on a Cross of Gold” in the Journal of Monetary Economics.

Ben Bernanke, in a laudatory review of Golden Fetters, agrees with its main thesis. . . . → Read More: Counter to Ben Bernanke’s The World on a Cross of Gold

The Euro Zone Will Defend Its Money: Experts Hail Resolute Action

“The message has gotten through: the euro zone will defend its money,” French Finance Minister Christine Lagarde told reporters in Brussels early Monday.

With massive resolve after a 14 hour meeting, 16 euro nations agreed to offer financial assistance worth as much as 750 billion euros ($962 billion) to countries under attack from speculators. . . . → Read More: The Euro Zone Will Defend Its Money: Experts Hail Resolute Action

Economic Events on May 11, 2010

At 7:45 AM EDT, the weekly ICSC-Goldman Store Sales report will be released, giving an update on the health of the consumer through this analysis of retail sales.

At 8:55 AM EDT, the weekly Redbook report will be released, giving us more information about consumer spending.

At 10:00 AM EDT, the Wholesale Trade report . . . → Read More: Economic Events on May 11, 2010