MMT basically holds that governments have control of unlimited amounts of real wealth — thanks to money-printing power. But if this were really true, countries like the USSR and North Korea could simply create money until they became wealthy nations.
Hoppe wrote in 1990 of the road that governments would take to create a one-world government, one-world central bank, and one-world currency. He was almost spot on.
In this testimony to Congress, Joseph Salerno describes how to fix the problem of fractional reserve banking.
So how about it, Mr. Powell? A real economy operates without ultra-low interest rates and activist central bank stimulus.
The Bank of Canada's official mandate to promote the “the economic and financial well-being of Canadians,” isn't compatible with the Bank's real mandate which is apparently to look out for the good of a small number of powerful banks.
The Fed and the ECB have taken two different paths since the 2008 crisis. Here's what you need to know.
Dr. Jeffrey Herbener joins The Human Action Podcast for an extended discussion of Mises's seminal work.
By creating money out of thin air, central banks repeatedly create bubble industries that must inevitably be liquidated.
While government spending re-allocates and distorts resources, it is not necessarily inflationary. Inflation really just stems from money creation and fractional-reserve lending carryied out by central banks and private banks — thus creating money "out of thin air."
Since we don't know the future, all investment is a type of speculation, and this doesn't mean banks are behaving nefariously when investing other people's money.
