Keynesian economists believe that the key to increasing economic growth is increasing the supply of money in circulation. Money, however, is a means of exchange, not a means of payments. The difference is vital to understanding economics.
While her record is hardly perfect, Judy Shelton has been a rarity among monetary economists: an advocate for gold and sound money.
Central banks intervene in order to “create demand,” and then they intervene in order to try to mitigate the damage they caused earlier. This is a never-ending scenario of economic destruction.
When it comes to calling out government economic intervention, it is easy to forget that the fundamental reason for the state’s stranglehold on the economy is the government’s monopoly on creating and maintaining money. It is time to end the monopoly.
State-sponsored fiat money has been the norm for more than ninety years, but its very instability makes it vulnerable to a regime of sound money.
Ordinary people cannot stop the Fed and the government from inflating the currency, but they can take measures to shield themselves from some of its harmful effects. Mark Thornton presents a few ideas on how it can be done.
Keynesian economists believe that the key to increasing economic growth is increasing the supply of money in circulation. Money, however, is a means of exchange, not a means of payments. The difference is vital to understanding economics.
Central banks intervene in order to “create demand,” and then they intervene in order to try to mitigate the damage they caused earlier. This is a never-ending scenario of economic destruction.
Alabama Governor Kay Ivey signed a bill on May 17 that removes all income taxes on capital gains from the sale of gold and silver, enabling the state to take an important step forward in reinforcing sound money principles.
While her record is hardly perfect, Judy Shelton has been a rarity among monetary economists: an advocate for gold and sound money.
