On Sunday morning, March 12, Treasury Secretary Janet Yellen told CBS there would be no bailouts. Later in the day the Fed declared quantitative easing to infinity and beyond. What’s going on? Quite simply, the Fed is willing to overpay for debt (again). They call it the Bank Term Funding Program (BTFP), and as far as one can tell, its dollar
To no one’s surprise, there was another banking crisis over the weekend. The Federal Reserve and other large institutions stepped in to allegedly save the day, in what could be considered a highly accretive investment for some very wealthy individuals. As CNBC explains: JPMorgan acquired all of First Republic’s deposits and a “substantial majority
Despite once touting itself as “The Most Trusted Name in News,” CNN’s economic knowledge and reporting seem to be lacking. Last week, they published a thought-provoking article titled Why do businesses keep raising their prices , which began with the claim: After two years of surging prices, economists still can’t agree on what has caused the
The formal recession has yet to be declared, and Powell is already offering apologies. Following last week’s rate hike amid the ongoing banking turmoil, during the Q & A session, the Fed Chair offered a sort of apology for recent events: I’ve been Chair of the Board for five plus years now, and I fully recognize that we made mistakes. I think
The story goes something like: In the last few years, the Federal Reserve printed up to 80% of all bills that were ever in circulation. While Austrian economists have long recognized the superfluousness of central banking and understand the benefits of a decentralized monetary system, it’s important not to give in to false ideas, even if they
One of the problems we’re forced to confront when considering the role of the Federal Reserve is whether it’s better for the Fed to take losses and capitalize them as deferred assets, or go back to an era of “Fed profitability” whereby the Fed remitted money to the Treasury on a weekly basis. The path to profitability is an easy one, consider:
There are about 23,000 people too many, working in the Federal Reserve System. According to the 2021 budget, the actual amount was 23,517 . Various calculations can be done to put more context around this and provide additional food for thought. In 2022 the Fed paid about $4 billion in salaries in addition to the$1 billion it paid in pension
As reported by CNBC last week, the Consumer Price Index (CPI) figure of 6.5% shows how the mainstream media disseminates false economic information for consumption by the masses. Try to spot some of the more concerning parts: Initially, the chart raises questions such as where this data comes from and who participated in the sampling. Once the
The idea that billionaires would gather behind closed doors and discuss the fate of the world is no longer conspiracy. The more you read, the more you’ll see. The plans are laid out in plain sight. Take a look at this chart from the World Economic Forum (WEF) itself. Notice anything strange (hint: top right)? Central Bank Digital Currency (CBDC)
With January’s world elite submit in Davos wrapping up earlier this month, members of the World Economic Forum (WEF), who publicly celebrate their infiltration of governments across the globe, continue to do what they do best, i.e. intervene in the market for the purpose of destabilizing the world with ominous projects like the Great Reset . Their
What is the Mises Institute?
The Mises Institute is a non-profit organization that exists to promote teaching and research in the Austrian School of economics, individual freedom, honest history, and international peace, in the tradition of Ludwig von Mises and Murray N. Rothbard.
Non-political, non-partisan, and non-PC, we advocate a radical shift in the intellectual climate, away from statism and toward a private property order. We believe that our foundational ideas are of permanent value, and oppose all efforts at compromise, sellout, and amalgamation of these ideas with fashionable political, cultural, and social doctrines inimical to their spirit.