The Insolvency of the Fed
Only two things can save the Fed at this point. One is a bailout by the federal government. This recapitalization could be financed by taxes or by monetizing government debt in another blow to the value of the currency.
Only two things can save the Fed at this point. One is a bailout by the federal government. This recapitalization could be financed by taxes or by monetizing government debt in another blow to the value of the currency.
President Franklin D. Roosevelt's 1934 Gold Reserve Act was the greatest theft of wealth I'm aware of in American history:
"The government doesn't create any real wealth, so how can an increase in government outlays revive the economy?"
Sponsored by the Mises Institute and held in Houston, Texas; September 22-23, 1995.
Sponsored by the Mises Institute and held in Houston, Texas; September 22-23, 1995.
Sponsored by the Mises Institute and held in Houston, Texas; September 22-23, 1995.
Sponsored by the Mises Institute and held in Houston, Texas; September 22-23, 1995.
Presented at the Mises Institute’s first conference, November 16-17, 1983; in Washington, DC.
What can be more Austrian than an investment strategy that is based entirely in the notion that the future is uncertain and accurately forecasting it is impossible?
People must relearn that free-market money, or sound money, as Mises put it, is the indispensable element for preserving the free societal order.