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Entries in Monetary Policy (90)

Friday
Feb132015

APP - APP Red, White & Blue Gala a Success! 

American Principles Project

Dear Friends,

I wanted to take a moment to share some of the highlights from American Principles Project’s 3rd annual ‘Red, White and Blue Gala’ and our first-ever State Lunch in Washington, D.C. last week.

This year we held our first-ever State Lunch, which focused on Common Core and featured Governor Bobby Jindal (R-Louisiana) as the keynote speaker.

At the State Lunch, Governor Jindal spoke substantively about Common Core, federal overreach, and how the government is taking power away from parents and teachers and empowering bureaucrats in Washington, D.C. You can watch his full presentation here:



That evening, we welcomed over 350 people to our 3rd annual ‘Red, White and Blue Gala’, not to mention over 70 reporters and 30 media outlets, making it our most successful Gala to date.

The keynote speaker for the evening was Governor Rick Perry (R-Texas), and actress and former Miss USA Ali Landry was featured as the Master of Ceremonies. The evening also featured short presentations from our founder Professor Robert George, actor Eduardo Verastegui, Delaware RNC Committeewoman Ellen Barrosse and more.

You can watch Governor Perry’s presentation here:



All other presentations, pictures and media highlights can be found on our website here.

Click here for a full list of the media’s coverage of APP’s State Lunch and Gala.

During the Gala last Thursday, we also debuted a new American Principles Project video featuring the APP team and our work. You can watch the 3-minute video here: 



Thank you for your support over the past year and we look forward to keeping you updated on our work over the next year, especially as we head towards the critical 2016 presidential election.

Best,
 
Frank Cannon
President, American Principles Project

Tuesday
Jan272015

APIA - Heritage Foundation renews call for Monetary Commission 

Dear Monetary Policy Observer,

 

Heritage Foundation's Dr. Norbert Michel, in a recent Forbes.com column, called for the establishment of a monetary commission as the lead item among his calls for action by the new Congress. 

 

Dr. Michel named the Brady-Cornyn Centennial Monetary Commission Act as a “perfect vehicle” for assessing Fed performance and implementing reform. You can read the full article here

 

We hope you find this material of interest.

Wednesday
Oct292014

APIA - Gov. Florio’s Night of the Living Gold Standard 

Dear Monetary Policy Observer, 

Former New Jersey governor Jim Florio voiced a somewhat shrill alarm to the return of the gold standard as a viable campaign issue for federal candidates like Jeff Bell and Rand Paul.  

APP economics director Steve Lonegan replies with a well reasoned account of how leaving the gold standard has hurt economic growth and the middle class, and why considering the idea of a gold backed dollar isn’t something that should, as Florio put it in ironically seasonal terms, “have a stake driven through its heart.” 

We hope you find this material of interest. 

Happy Halloween, 

Nicholas Arnold

American Principles In Action

##### 

Gov. Jim Florio’s “A Proposed Return to the Gold Standard is Cause for Concern” contains a certain irony: Mr. Florio's embrace of the most important decision made about our money in our lifetime made by President Richard Nixon, who left office under a severe cloud.

The facts are clear. During the 40 years prior to Nixon ending the gold standard the nation’s economy grew, on average, 4.5 percent per year. Since the Aug. 15, 1971 “Nixon Shock,” our average GDP growth has dropped by more than 25 percent annually. Had we maintained gold standard growth rates, this country’s economy -- and on average each of your paychecks and net worth -- would be 50 percent bigger today.

Mr. Florio refers to the ensuing "easy money" policies of the Federal Reserve as “stimulating” the economy. He omits that this has led to 1 percent of the population benefiting from 95 percent of the stock market wealth produced by “Quantitative Easing.” Meanwhile, middle-income families have seen their buying power drop 8 percent since 2007, caught in the grip of wage stagnation and a rising cost of living. The rich are getting richer and the middle class is getting poorer.

Read the full article here: http://www.nj.com/opinion/index.ssf/2014/10/lonegan_response_to_florio_gold_standard_oped_hed_goes_here.html

Friday
Oct242014

ALG' Daily Grind - New Hampshire's Shaheen no friend to Press Freedom 

6

Oct. 24, 2014

Permission to republish original opeds granted.

New Hampshire's Shaheen no friend to Press Freedom
Senator Jeanne Shaheen's campaign is keeping conservative reporters from attending their "open to the media" events.

'Let them have cash'
Mark Blyth and Eric Lonergan boldly propose to do what no central bank has done before: Just print money and give it to people.

A.F. Branco's 2015 Comically Incorrect wall calendar
The perfect gift this Christmas season.

Why is Obama fighting a war on carbon energy?
First came coal. Why oil and natural gas need to watch out.

Wednesday
Oct152014

APIA - Is Dollar’s Reserve Currency Status Costing US Jobs? 

Dear Monetary Policy Observer,

 

The financial media has been overjoyed by the dollar’s strong run over the past several weeks.  APIA senior economics adviser Ralph Benko points out that while cheapening the dollar is bad for the economy, the “King Dollar” status as a reserve currency may have cost the US economy 6 million jobs, according to Dr. Jared Bernstein, the chief economist to Vice President Biden. 

 

Benko calls for a return from “King Dollar” to a “high integrity, meticulously defined, dollar” pegged to gold as a way to sustain middle class growth.

 

We hope you find this material of interest.

 

Sincerely,

 

Nicholas Arnold

American Principles In Action

_________________________________________________________

 

The reserve currency status of the dollar, particularly as a potential factor in wage stagnation, has profound political implications.  Dispirited voters yearn for leadership that actually understands how to get the economic tide to lift all boats again.  Notwithstanding his promotion of some marked policy differences with this columnist, this columnist says three cheers for Dr. Bernstein for squarely pushing the reserve currency question into play.

 

[...]A dollar at the mercy of a freelancing Fed, subject to being whipsawed in value, up or down, is a barrier to commerce.  Money, by definition, is a medium of exchange, a store of value and — not be overlooked — a unit of account.  There are many empirical data tending to show that only by meticulously maintaining the definition of the unit — for example, by defining the dollar by grains of gold and making it legally convertible thereunto — can good job creation, and equitable prosperity, consistently be achieved.

 

Read the full article here: http://www.forbes.com/sites/ralphbenko/2014/09/29/the-rise-and-fall-and-rise-and-fall-of-king-dollar-part-1/