Monetary Policy

Poplular history says that massive government spending—made possible by ending the gold standard—ended the Great Depression. As usual, popular history is wrong.

Government and monetary authorities claim that the worst of the postcovid lockdown disruptions are past and a "return to normal" is just around the corner. It will be a very long corner.

The fiat monetary system is slowly breaking down, taking the economy with it.

Only Father Time helps us cut through the policy nonsense and understand interest rates conceptually.

Keynesians believe that economic growth can occur only with an expanding supply of money. Growth doesn't need more money; it needs more savings.

While monetary authorities and progressives would like to have a digital currency implemented, it is a backward step for monetary freedom.

John Maynard Keynes derided gold-based money as a "barbarous relic," yet it was gold that enabled a long regime of honest money -- and the advance of civilization.

Only Father Time helps us cut through the policy nonsense and understand interest rates conceptually.

Keynesians believe that economic growth can occur only with an expanding supply of money. Growth doesn't need more money; it needs more savings.

While monetary authorities and progressives would like to have a digital currency implemented, it is a backward step for monetary freedom.