Monetary Policy

What Greenspan Missed

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Former Federal Reserve Chairman Alan Greenspan made headlines around the world with this admission: “hose of us who have looked to the self-interest of lending institutions to protect shareholders’ equity (myself especially) are in a state of shocked disbelief. Such counterparty surveillance is a central pillar of our financial ... [click for more]

Why Not Abolish the Fed?

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One of the positions of Republican presidential candidate Ron Paul that mainstream pundits find “wacky” is his call to abolish the Federal Reserve System. Never mind that two Nobel Prize-winning economists — both libertarians — called for the same thing. And never mind that the Fed is the entity directly ... [click for more]

Government-Made Crises

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A fascinating aspect of government intervention is how it induces people (1) to get embroiled in the crisis environment that the intervention produces, and (2) to feel a vested interest in coming up with a solution to the crisis. Consider price controls, an intervention that governments traditionally turn to in response to their own debasement of the currency. As prices ... [click for more]

Political Stimulus

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Not understanding basic economics is dangerous because you’re vulnerable to political con games foisted by unscrupulous politicians. Economics properly conceived is just common sense about human activity. An examination of the proposed economic stimulus will make this clear. Nearly all politicians claim that the economy needs a stimulus that only they ... [click for more]

Brace Yourselves

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Make no mistake about it: the central economic problem facing the United States is out-of-control federal spending and the massive federal debt that continues to pile up. As welfare-state spending and warfare-state spending have continued to soar for the past seven years, U.S. officials have gone on a massive ... [click for more]

A Short Numismatic History of the United States

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Governments are inveterate despoilers of the freedom, wealth, and lives of their citizens. As consolation, the citizens usually receive little more than lofty words and pretentious sentiments from the political leaders in charge of the looting, murder, and enslavement. Less commonly, governments produce something concrete, such as a marble palace for the ruler or an ... [click for more]

Crushed by the Fed

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During a roundtable debate on a major cable-news outlet about how the Federal Reserve should handle the current credit crunch, one of the economic “experts” made a startling statement. He said, “The Fed has two jobs: to control inflation and to run the economy.” That such a statement is considered conventional wisdom is a stark ... [click for more]

The Soviet-Style Attack on NORFED

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It would be difficult to find a better example of federal heavy-handedness than the recent six-hour federal raid on NORFED, the National Organization for the Repeal of the Federal Reserve and Internal Revenue Code. In fact, it would be virtually impossible to distinguish the NORFED raid from similar raids ... [click for more]

Inflation Is Legalized Robbery, Part 2

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Part 1 | Part 2 Whether one believes in the “price stability” policies of our nation’s central bank, or believes such policies have caused countless economic problems, the onus is on the Federal Reserve. It is a strange, quasi-secret public/private agency with little or no accountability. [click for more]
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