Money and Banking

People did not conceive that what they lamented was the necessary outcome of policies directed toward a lowering of the rate of interest by means of credit expansion.

"Menger's work provided the foundation for all of the Austrian School and the bedrock for monetary theory, laying the groundwork for Mises, Hayek, and Rothbard."

Mr. Calandro not only strives to teach a method to avoid the delusion, but to attempt to profit from the resultant cleaning out when the bubble bursts.

To avoid runaway inflation we must have the resolve and the will to cease the inflationary expansion of credit, and to force the Federal Reserve System to stop purchasing assets, and thereby to stop its continued generation of chronic, accelerating inflation.

In reality, money is as easily supplied by the free market as any other good.

In real life, Keynesianism doesn't work; the government bails out the bankers and then depressions last a long time.

These increases may not show up in the price of US financial assets, but they will rear their ugly heads at the gas pump and grocery checkout.

When a merchant borrows 20,000 francs to purchase a house, it is not the 20,000 francs which he owes, but the house. Money only appears for the sake of facilitating the arrangements between the parties."

"Real GDP has nothing to do with the real world."

The expansion of the welfare state is used to legitimize the expansion of the corporatist-warfare state. We march towards slavery, accompanied by songs of fairness and change.