About Eddie Allen

Bernanke Swipes at Gold Standard

Bernanke Covering

Yesterday Fed chairman, Ben Bernanke, countered the growing scrutiny of his economic NGO (non-governmental organization) with an admonition of the gold standard. In the first of four speeches he is delivering to George Washington University, the architect of the U.S. government's bailout, criticized the oft-touted solution of the gold standard while essentially making the case for how things will work in a world without a central bank pulling the strings. "Since the gold standard determines the … [Read more...]

Idaho Joins the Rush Toward Honest Money

Idaho Gold 1914 Obverse

The source of almost half of all U.S. silver mining production, the state of Idaho, is satisfying their duty to defend the inherent rights of its citizens. Representative, Phil Hart, has introduced Idaho HB430 titled "Idaho Constitutional Money Act of 2012" to the Idaho House of Representatives. Under the provisions laid out in this legislation, all citizens of Idaho would be protected in their right to transact business in the form of money designated in Article 1, Section 10, Clause 1 of … [Read more...]

Washington State Moves Toward Honest Money

Washington State Moves Toward Honest Money

Representatives in the Washington State legislature have introduced a bill that would move the state into compliance with Article 1, Section 10 of the US Constitution, requiring only gold and silver be recognized as legal tender. The bill was introduced in the Washington State House of Representatives on Friday by Representatives Matt Shea, Cary Condotta, Jason Overstreet and Jim McCune. A sample of the bill's text follows: (1) The legislature finds that to secure property rights sound money … [Read more...]

India Trading Gold for Iranian Oil?

Gold for Oil

According to a story being reported by DEBKAfile, India has negotiated to barter gold for oil. "India is the first buyer of Iranian oil to agree to pay for its purchases in gold instead of the US dollar, DEBKAfile's intelligence and Iranian sources report exclusively.  Those sources expect China to follow suit. India and China take about one million barrels per day, or 40 percent of Iran's total exports of 2.5 million bpd. Both are superpowers in terms of gold assets. By trading in gold, … [Read more...]

Sitting Bull BU Scores High Grades

Pile of Sitting Bull Bullion

In numismatics [n: the study or collection of coins, tokens, and paper money and sometimes related objects (as medals) - Merriam-Webster], the value of a medallion or coin is related directly to its scarcity and condition. The quality of the condition has come to be designated by professionals through the use of a scale ranging from 1 - 70, with a score of 70 reflecting the highest possible quality. The original scale was published in 1949 (revised in 1958) by Dr. William Sheldon to aid in … [Read more...]

Missouri Moving to Constitutional Money

Offering Honest Money

The American Open Currency Standard has been servicing the state of Missouri for a few years with gold, silver and copper rounds. And now the elected employees at the capitol will finally consider legislation to honor their Constitutional mandate to not "...make any Thing but gold and silver Coin a Tender in Payment of Debts...". Our friend, Doug Tjaden, at the Utah Sound Money Center, posted the following today: Last week, the Missouri Sound Money Committee produced model legislation … [Read more...]

MF: No Mettle?

Corzine Testifies

While John Corzine is scratching his head in Senate hearings trying to make it sound feasible that he can't explain where all the money has gone, his customers and stockholders battle over who will end up with the candy now that the piñata has been busted. Here's a sample of the dirt as reported by Barron's just days ago... It's one thing for $1.2 billion to vanish into thin air through a series of complex trades, the well-publicized phenomenon at bankrupt MF Global. It's something else … [Read more...]

Murray Rothbard: Latest Addition to Ludwig von Mises Institute Silver Collection

Rothbard 1oz Silver

FOR IMMEDIATE RELEASE: American Open Currency Standard Issues Murray Rothbard 1oz Silver and Ludwig von Mises 1oz Copper Medallions Richardson, Texas (November 22, 2011) - The American Open Currency Standard is proud to announce the release of the official Murray Rothbard Silver Medallion crafted exclusively for the Ludwig von Mises Institute. This proof-like medallion is the second in the prestigious Mises Institute Silver Collection commemorating the contributions of notable … [Read more...]

Cape Cod Trading “C” Shells

CCC_Shells_Obverse_render

Residents of historic Cape Cod Bay, Massachusetts haven't traded sea shells in a long time but they will start doing just that again with the release of the new CCC Shells (Cape Cod C Shells). "It is the mission of Cape Cod C Shells to provide the public with a means of keeping wealth within the community. We believe a bartering system should be comprised of both merchants and consumers. We help keep the wealth within the area by providing a tangible means of trade and reducing the risk of … [Read more...]

Utah Monetary Summit

Salt Lake City Skyline

This fall join the sharpest minds in business, finance, politics, law and economics in building a framework for the future of monetary policy. With the dollar's slide accelerating and the economy trapped by slow growth and rising inflation, the world is calling out for sound money. What will that look like? Ronald Reagan once observed, "I do not want to go back to the past; I want to go back to the past way of facing the future." In that spirit, Utah has charted a way forward based on … [Read more...]