Mises Daily

The amazing fact is that the great majority of British people are not yet consciously aware that they are living in a very severe economic crisis.

The inflationary environment causes savers to divert savings from paper assets to the safer harbor of hard assets such as precious metals, commodities, or even goods used for daily use.

In a free market, no shortages would exist. In fact, it is very unlikely any of the earth's resources would be used up.

"The single most important book on the Great Depression is that by Murray Rothbard." – David Gordon

"We are seeing the disintegration of the fractional-reserve banking system all over the world. It is being held together by bailouts, which are the government equivalent of bailing wire and chewing gum."

My own preference is, first to allow market adjustments to take place.

"Let's go back to using real money."

Guido Hülsmann offers his conclusions: the current monetary institutions (central banks, paper money, and fractional-reserve banking) cannot be justified and should be abolished; such an act should be greeted as a restoration of monetary sanity and a humane economy.

"Gold's market premium to the official price was no small matter as it questioned the very fundamentals of the planned monetary system."

It's a hard truth for Americans to face that neither team in Washington is going to guard what we love the most. That is something we are going to have to face. Liberty is for the citizens to guard themselves.