Money and Banks

Most BRICS currencies are weak and getting weaker, and creating a new joint  "BRICS currency" won't solve the problem.  Joining together a bunch of weak currencies does not somehow create a strong currency.

Contrary to the government's line that "inflation hurts everyone," inflation really is a wealth transfer from those without political power to the politically connected.

"It may be hard to swallow, but central banks were not created for the greater good but to support the state and special interest groups."

Decades of low interest rates have ruined saving in the US economy, and banks are going to pay dearly for it.

Something is very wrong in the developed world when some consider Milei a dangerous radical and say nothing about the radicalism implemented in the Fernandez-Kirchner years.

The Federal Reserve System was originally conceived not as a unitary central bank, but as 12 regional reserve banks. It has evolved a long way toward being a unitary organization since then.

Dr. Murray Sabrin shares his story of how he became an Austrian economist and discusses his analysis predicting a recession later in the year. Tho and Dr. Sabrin also talk about this week's anniversary of Nixon closing the gold window.

While FedNow seems benign, there is the larger problem of the entire banking system itself being built on a foundation of sand. FedNow can only make that problem worse.

David Hume, Adam Smith, and Étienne de Condillac observed that money is neither a consumers' good nor a producers' good and that, therefore, its quantity is irrelevant for the wealth of a nation.

Contrary to the government's line that "inflation hurts everyone," inflation really is a wealth transfer from those without political power to the politically connected.