After the Federal Reserve’s board voted to cut interest rates by a quarter of a percent last week, the Wall Street Journal editorial board declared that the central bank was now “Trump’s Federal Reserve.”
A weak showing for Milei’s party in provincial elections last week jolted investors and forced the country to start selling “every last dollar” to defend the peso.
The most common argument against a commodity money is that it doesn’t expand and contract with the “needs of trade.” The idea is that if the economy grows, the money supply should grow with it. Under the gold standard, increasing the supply of gold was slow and costly, so we needed to break away from those limitations with a system that allows for quick and low-cost increases in the money supply when warranted.
The People’s Bank of China has reportedly pitched central banks on storing the yellow metal on their behalf, inside China.
“Job gains have slowed ...At the same time, inflation has risen recently and remains somewhat elevated.”
The USA is living in the past and still thinks it can abuse its potential allies, and still expect those countries to line up in support of the US. Article by Douglas Macgregor.
The covid lockdowns caused many Americans to stop trusting the government’s propaganda and led to a 39 percent increase in homeschooling in the 2020-21 school year. While the number of homeschoolers did decline some after this jump, homeschooling has continued growing in popularity over the last several years. Today, approximately six percent of American school children are homeschooled.
Miran wants to fire up the Fed money printers. He absurdly believes Fed policy is “well into restrictive territory.”
Few episodes in monetary history better demonstrate the Austrian theory of money than the experience of competing currencies in late medieval Italy. In an era of political fragmentation, with dozens of city-states issuing their own coins, merchants and bankers were constantly confronted with the problem of which monies to trust. Out of this cacophony, two currencies rose to international prominence: the gold florin of Florence, first struck in 1252, and the Venetian ducat, introduced in 1284.
