Can the Fed gracefully exit from the huge hole it has dug for itself? Unfortunately my answer is no.
From Part IV of A History of Money and Banking in the United States: The Colonial Era to World War II: “The Gold-Exchange Standard i
From Part V of A History of Money and Banking in the United States: The Colonial Era to World War II: “The New Deal and the Internat
The Mises Circle in Houston, Texas. Sponsored by Jeremy S. Davis. Recorded 22 January 2011.
The Federal Reserve Chairman, Bernanke, calls a fall in purchasing power of the dollar by over 95% stable. Interest rates have been pushed to zero. Continual inflation is deliberate and designed. Bernanke pretends he knows what he is doing.
Fergusson presents a compelling argument that the central bankers of Europe did not believe that the quantity of money had anything to do with the price level. And I suppose you think that our modern Fed rulers understand at least this much.
When the state spends more money than it receives in taxes — a fact indelibly written into the bond — it is deliberately committing an act of bankr
Hoover's interventionist policies focused on labor markets with the goal of keeping wages and employment high. Bush's interventionist policies focused on capital markets with the goal of keeping financial markets functioning.
