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Free banking is seen by many as something that should be left in 18th century Scotland. Free banking is where each bank issues their own note that is redeemable for a certain amount of a commodity, typically gold. The value of the note is determined by the assessed probability that that bank will indeed be […]
Critics of the Fed are well-versed in arguments against central banking. It enables reckless spending and creates monetary confusion, and it distorts prices for consumers. History also reveals another troubling result of central banking: more frequent and deadlier war.
In times of economic hardship, like today, politicians often take aim at the wealthy entrepreneurship class, usually employing the rhetoric of socialists like Marx. Rather than blame the rich for their economic woes, the American people should aim their ire at those responsible: profligate spenders in Washington and their cronies.
Inflationist politicians would have their citizens believe fiat money is at worst a necessary evil and at best a monetary system free from the volatility of the business cycle. Yet, if one simply follows the history of American monetary policy, it’s obvious that fiat money is the result of diabolical political temptations.
2024 has shown that the Federal Reserve is perfectly comfortable with inflation sitting above its 2% target. This fact serves as a reminder that the political purpose of central banks is to create inflation, which benefits large government programs and socialist policy. The following article was originally published by the Mises Institute. The opinions expressed do not necessarily reflect those […]
Earlier this year, four states took steps toward strengthening sound money by lifting or reducing taxes faced by holders of physical gold and silver. Only a few months later, three other states have actually implemented new sound money policies, and by doing so, they have improved their citizens’ economic standing.
