Mises Daily

Just as kings debased coins to help pay for their wars, the Fed used inflation to help pay for US participation in World War I. It did so by creating and issuing dollars in return for government debt.

These regulations have a clear message: "You don't know what is good for you so you must be forced to do what the government thinks is good for you."

Mises grounds his balance-of-payments analysis on the insight that it is a monetary concept.

When liberty and capitalism were born over a millennium ago, states were small, decentralized, and weak. By restoring natural rights and civil society, the state will recede once again.

A store of value is not necessarily a medium of exchange, and in our current fiat money system, gold is not money. But it has most of the desirable properties of money, and there is much to learn form the process of how it became money in the past.

Mises's firm anti-inflation view—and his recommendation for a return to sound money (that is, free market money)—rested on his awareness of the disastrous consequences of an inflationary policy

The task at hand is the study of the problems of the determination of prices and interest rates. This task requires a sharp distinction between money-certificates and fiduciary media.

Joe Salerno provides a brief description of fractional reserve-banking, identifies the problems it presents in the current institutional setting, and suggests a potential solution.

What the witch was to medieval man, what the capitalist is to socialists and communists, the speculator is to most politicians and statesmen: the embodiment of evil.

Machiavelli asserts that civil society can best flourish in the absence of government intrusion.