Mises Wire

Austrian economists agree that ending the Federal Reserve System would be a major step forward in reclaiming sanity in government spending and bolstering the US economy. Here is one plan to make ending the Fed a reality.

Socialists have always tried to hide the true nature of socialism, presenting it as a mechanism to advance freedom when, in fact, it destroys liberty. Socialism needs to be unmasked.

Contrary to many historical narratives, pre-colonial African countries did have sophisticated diplomatic traditions. The Igbo people of what is now southeastern Nigeria are well-known for their highly-developed system.

President Trump has suggested that the government eliminate the personal income tax and replace it with tariffs. While some may champion that proposal, the truth is that it is much easier to add a new tax than it is to eliminate it.

According to an outmoded  US law, the American government must account for the more than 8,100 tons of gold it owns at the now completely irrelevant price of $42.22 per ounce.

Although tariffs and other issues are getting the most news coverage, a harbinger of recession is looming: the slow collapse of commercial real estate values. This is the result of reckless policies at the Federal Reserve and the Fed cannot fix it.

President Andrew Johnson, who is best known for being the first president to be impeached, vetoed protectionist legislation that looked to raise tariffs on imported copper. Congress overrode his veto, but his free-trade message is just as relevant today as it was in 1869.

Sen. Tommy Tuberville recently claimed that Trump‘s tariffs will improve the economy, but only after a period of painful adjustment. “No pain, no gain,” he said. The truth is that the tariffs will inflict pain without any net gains.

Charles Rist was an economist of nearly a century ago who recognized the dangers behind President Franklin Roosevelt‘s attempts to demonetize gold. We are still paying the price for FDR‘s actions.

The latest example of our bullying and tyrannical federal judiciary is Chief Justice John Roberts’ rebuke of President Trump’s recommendation of impeaching a federal judge.