In the last few months, the Federal Reserve has signaled that it is prepared to cut interest rates. Today’s 50bps rate cut, however, exceeded most expectations.

As ZeroHedge has noted, “only 9 of 113 economists surveyed” expected this sort of move, and the Fed’s own dot plot shows a growing appetite for more aggressive action in the near future.

The monetary and banking system plays an incredibly important role in contemporary economies. Knowledge of how this system functions should therefore be spread as widely as possible, yet the education system barely instructs its students about this subject, if indeed it instructs them about it at all. This article aims to contribute to bridging this gap by giving a basic overview of how the system of money creation and banking works today.

Can you understand how it can be that the Federal Reserve, the world’s greatest and by far most important central bank, has now lost the astounding sum of $193 billion?1 If not, you are surely not alone. Since September 2022, the Fed has lost money every month.

On Sunday, for the second time this election cycle, a man was able to get close to Donald Trump with a rifle. The former president was golfing when Secret Service agents spotted a rifle barrel poking out of some bushes just off the course, near a hole Trump would soon play. Agents fired on the suspect, causing him to flee as Trump was rushed off the course. Shortly after, the man was apprehended by police.

The Economics Policy Institute (EPI) has promoted a myth that recent price inflation is a “global phenomenon,” is not caused by domestic economic policies. An EPI study claims “that high [price] inflation in the U.S. has not been driven by any unique American policy—not the American Rescue Plan and other generous fiscal relief during the pandemic recession and recovery nor anything else U.S.-centric”.

In a free society, people have the right to decide what to do with their own bodies. If you want to take something that “orthodox” medicine says you shouldn’t, this decision should be up to you. If the government can ban “dangerous drugs,” why not dangerous ideas too? As the great Ludwig von Mises points out, “Opium and morphine are certainly dangerous, habit-forming drugs. But once the principle is admitted that it is the duty of government to protect the individual against his own foolishness, no serious objections can be advanced against further encroachments.

According to mainstream economics, interest rates are the price of money, but the Austrian school says differently. To understand these conflicting ideas, we must understand what prices, money, and interest are.

From day one of his presidency, it has been apparent that Argentina’s President Javier Milei wants the Argentinian regime to be a willing member of the US-NATO axis in international affairs.

There is an attack on the customer by its anti-market enemies. These enemies dislike market economies and private property and wish to see these institutions destroyed. The enemies want to see a new “king” to the throne—one that dislikes the customer. These enemies want to install a “king” that does not care about what you want to consume, but what they want you to consume.

Global money supply has soared by $20.6 trillion since 2019, according to Bloomberg.

Additionally, global debt surged by over $15 trillion in 2023, reaching a new record high of $313 trillion. Around 55% of this rise came from developed economies, mainly the U.S., France, and Germany. Unfunded liabilities in the United States amount to $72 trillion, almost 300% of GDP. This may seem high until you look at Spain with 500% of GDP, France with close to 400%, or Germany with close to 350% of GDP.