Economists, investors, businesspeople, and yes, even our wise politicians seem to believe that the Federal Reserve, using its various “tools” to create money out of thin air (which is illegal for mere mortals like us), can control the economy and financial markets any way it likes.

In particular, these people believe that the Fed doesn’t want a recession and a stock bear market, and the Federal Reserve can simply prevent these economic events from happening.

The Market Is Much Bigger than the Fed

However, the world doesn’t work that way.

Ever wonder if you were living in the Dystopian States of America? Senator Rand Paul’s Deception: The Great Covid Cover-Up, published October 10, 2023, does not disarm those haunting feelings.

Depression-era bank robber Willie Sutton, when asked why he robbed banks, replied, “Because that’s where the money is.” By “money,” he meant United States currency. He never indicated how he scheduled his robberies, but some days of the year may be more profitable for bank robberies than others.

Disclaimer: Neither I nor the Mises Wire in any way endorses bank robbery, which is a federal crime.

On Sunday, the populist Austrolibertarian Javier Milei was elected president of Argentina. In the United States, the reaction ranged from concerned curiosity on the part of the political establishment to enthusiastic celebration across the populist Right—including, notably, some economic nationalists.

On Sunday, Javier Milei was elected president of Argentina by a comfortable margin, with 56 percent of the vote. He will be sworn in as president on December 10. 

One of the political trends of the past few years has been an expanding disconnect between political unity rhetoric and the increasing disharmony politicians’ proposals create.

Senior Fellow Jesús Huerta de Soto and Fellow Philipp Bagus write: 

The election of Javier Milei brings the first anarchocapitalist world leader in history. Although prolific in the Spanish-speaking world, English speakers know very little of the Argentine´s views. The fact that he heads the Libertarian Party of Argentina certainly hints at what direction his politics run.

A historical event has taken place, not only for the libertarian movement but for the history of the world. The first libertarian president has been elected in none other country than Argentina.