Monetary Freedom Instead of Central Banking by Richard M. Ebeling December 27, 2022 The United States and most of the rest of the world are, once again, in the midst of an inflationary crisis. Prices in general are rising at annualized rates not experienced by, especially, the industrialized countries of North America and Europe for well over 40 years. More than 50 percent of the U.S. population is under 40 years of ...
Fed Up with the Fed by Robert E. Wright September 21, 2022 The Federal Reserve (“the Fed”) began operations in 1914. Thus, many find it difficult to fathom an America without it. Yet as it conducts its own major framework review, everyone, including the Federal Reserve itself, knows that the Fed is unnecessary. Congress could abolish the institution and ...
Help FFF Restore Sound Money by Jacob G. Hornberger August 11, 2022 Gas prices are at an all-time high. Rents are skyrocketing. Prices at the grocery store are surging. Prices of new and used cars are spiraling out of control. That’s what happens when the Federal Reserve debases the currency by inflating the money supply, which the Fed has been doing for the past several years and, actually, since its inception ...
Now That Inflation Is Back, Here’s the Book to Read by George Leef August 1, 2022 Inflation: What It Is, Why It’s Bad, and How to Fix It by Steve Forbes, Nathan Lewis, and Elizabeth Ames (Encounter Books, 2022). We have been through this many times before — prices start to increase at an accelerating pace and consumers grumble about inflation, while politicians try to pin the blame for it on parties other than ...
My Two-Bit Political Awakening by James Bovard December 1, 2021 Samuel Johnson may have been wrong when he declared, “There are few ways in which a man can be more innocently employed than in getting money.” But for young kids, collecting coins is a less pernicious pastime than becoming a pyromaniac or Tik-Tok star. My own experience collecting, buying, and selling coins vaccinated me against trusting politicians long before ...
Inflation Is a Dangerous Way to Get Rid of Debt Burdens by Richard M. Ebeling June 2, 2021 Suppose you lent someone $100, and when they paid you back they only handed you, say, $99 or $80. Would you consider the borrower to have kept his promise and contractual obligation? Or would you think that he had cheated you out of a part of the money you had lent him in good faith? Well, there are those ...
Monetary Inflation’s Game of Hide-and-Seek by Richard M. Ebeling May 18, 2021 The May 12, 2021, press release from the Bureau of Labor Statistics reporting on the Consumer Price Index (CPI) for the month of April sent the stock markets tumbling for two days and generated fodder for the news pundits with the announcement that the CPI measure of the cost-of-living had increased 4.2 percent at an annualized ...
Dangerous Monetary Manipulations and Fiscal Follies by Richard M. Ebeling April 7, 2021 Back in the 1960s, Everett Dirksen (1896-1969) served as the Republican Party minority leader in the U.S. Senate. One of his famous lines about federal government spending was, “A billion here, a billion there, and pretty soon you’re talking about real money.” Those days are long past. Now it’s: A trillion here, and a trillion there, and then you ...
The Gold Clause: A Free-Market Gold Standard by Wendy McElroy December 1, 2020 President Franklin Roosevelt destroyed one of the most valuable uses of gold when he nationalized ownership of the metal in 1933: the gold clause. This value did not return when private ownership of gold was legalized once more in 1974, partly because its use is still discouraged by anti-usury laws. The impact of its sudden absence was dramatized by a ...
Do Not Trust Governments with the Control of Money by Richard M. Ebeling November 17, 2020 If there is one thing that is fairly certain in this life – besides the seeming inescapability of death and taxes – is that once someone is appointed to almost any position in the political and bureaucratic structures of a government they soon discover how important and essential is the organization of which they are a part for the ...
Paul Krugman’s Ad Hominem Defense of Central Banking by Richard M. Ebeling August 4, 2020 One of the sorriest aspects of almost all political discussions nowadays is how often they seem to degenerate into rude ad hominem attacks rather than more reasoned arguments over the pros and cons of what public policies might be most conducive to achieving various social and economic goals. An example of this is an opinion piece by economist Paul Krugman ...
Gold and Free Banking versus Central Banking by Richard M. Ebeling July 28, 2020 In spite of the officially declared “independence” of the Federal Reserve from the immediate political control of either Congress or the White House, America’s central bank is, nonetheless, a branch of the U.S. government that is responsible for setting monetary policy, overseeing a variety of banking regulations, and influencing market interest rates. As a result, politics is always present ...