Monetary Policy

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]

The Federal War on Gold, Part 3

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Part 1 | Part 2 | Part 3 It is impossible to overstate the significance of the Franklin Roosevelt administration’s confiscation of gold and its nullification of gold clauses in contracts. It is one of the most sordid episodes in American history. To get an accurate sense of Roosevelt’s actions, it would not be inappropriate to compare what ... [click for more]

The Federal War on Gold, Part 2

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Part 1 | Part 2 | Part 3 Presidents Abraham Lincoln and Franklin Roosevelt revolutionized the monetary system of the United States and set the nation on the road of inflationary plunder that has characterized other nations in history. The actions of these two presidents also provide a textbook example for understanding the animosity and antipathy that ... [click for more]

The Federal War on Gold, Part 1

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Part 1 | Part 2 | Part 3 Given the rising price of gold and the fact that federal spending is totally out of control, the prospect of gold confiscation and criminalizing the private ownership of gold by federal authorities inevitably rears its ugly head. There are few things that federal big spenders hate more than gold. ... [click for more]
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