Archive for February, 2012

US defaulted at least twice before

Tuesday, February 28th, 2012

Ratings agencies deem an issuer of debt in default any time it fails to pay back creditors in full & on time or seeks unilateral change in conditions of repayment. This led to S&P assigning a default rating on Greece.

It turns out the US has defaulted TWICE on its gold obligations. FDR infamously “nationalized” almost all private holdings of gold & Nixon in 1971 refused to redeem dollars for gold.

ESSAY COMPETITION: TOP 10 REASONS WHY HAYEK IS MORE RELEVANT TODAY THAN EVER BEFORE

Saturday, February 18th, 2012

Essay Competition: In Memory of F. A. v. Hayek – 20th anniversary of his death

March 23rd, 2012 marks 20th anniversary of Hayek’s death & the Hayek Institute is organizing an essay competition to honor his legacy.