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Robert Aro

Robert Aro is a chartered professional accountant (CPA, CA) from Toronto who writes for the Mises Power and Market blog on issues surrounding the Federal Reserve and central banking. He is currently enrolled in the Mises Institute’s graduate school, working toward his master of arts in Austrian economics. In 2021, Robert placed third in the Free Private Cities short story contest with "Express to City Center ONE," which explores the endless possibilities a stateless society can offer the world. Passionate about writing and economics, he intends to publish in the future.

You can follow Robert under the name Econ Circus on Twitter.

All Works

Puppet master holding man an money on string

How to Read the Fed’s Statement of Operations

Money and Banking
04/21/2023Power & Market

In 2021 there were over 23,000 people employed by the Federal Reserve System. Last year nearly $4 billion went to salaries and benefits and another $1 billion into the pension plan.

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Federal agent pointing at someone

Banking Crisis (Not the Fed) To Cause Recession?

Money and Banking
04/14/2023Power & Market

One of the most dishonest headlines of the week goes to CNBC:

Fed expects banking crisis to cause a recession this year, minutes show

...
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Rorschach Photo by Pixabay

The Federal Rorschach

Money and Banking
04/04/2023Power & Market

Look at this chart. What do you see?

Now this chart?

And this chart, what type of thoughts come to mind?

The above images show the same thing, the Fed’s balance...

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Picture of various stablecoins

The Instability of Stablecoins

Money and Banking
03/30/2023Power & Market

At the Austrian Economic Research Conference (AERC 2023) event in Auburn, Alabama, behind a wooden podium once used by Ludwig von Mises, I presented my paper: The Instability of Stablecoins.

Whether it’s called a pyramid, ponzi, shell game, or a grand delusion containing...

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Photo of a question mark

QT or QE: What Is This?

Money and Banking
03/27/2023Power & Market

Leave it to the Federal Reserve to throw a knuckleball when the batter is expecting a fastball. These last few weeks have been just that, with the Fed saying nothing of abandoning their Quantitative Tightening (QT) position while engaging in what appears to be a Quantitative Easing (QE) position...

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