The Failure of the Federal Reserve: The Covid Boom and Unnecessary Intervention
After years of inflationary intervention, the Federal Reserve has no more rabbits to pull out of the hat.
After years of inflationary intervention, the Federal Reserve has no more rabbits to pull out of the hat.
As the US government debases the dollar, other nations take notice and possibilities increase that another currency based on sound principles might emerge.
Walter Bagehot, as Jim Grant writes, believed that bankers and central bankers should exhibit financial discipline. He would not recognize today's banking world.
Austrian business cycle theory points out that easy money leads to malinvestments. Once easy money disappears, the crash begins. Time to clean up malinvested assets.
A generation ago, the Berlin Wall fell and the USSR collapsed. Today, US monetary authorities are bringing down our own country.
After years of inflationary intervention, the Federal Reserve has no more rabbits to pull out of the hat.
Walter Bagehot, as Jim Grant writes, believed that bankers and central bankers should exhibit financial discipline. He would not recognize today's banking world.
Robert Mugabe, once president for life of Zimbabwe, became infamous for hyperinflation and political repression. Today, he is becoming the patron saint of central banking.
A generation ago, the Berlin Wall fell and the USSR collapsed. Today, US monetary authorities are bringing down our own country.
Money proper is not artifice. It is a physical "thing" of value, acquired through labor and emerging out of the needs of individuals, who through voluntary exchanges determine its value.