Central Banks

The standard line among most economists is that deflation is as bad or even worse than inflation. In reality, the economy needs deflation now more than ever.

The standard line among most economists is that deflation is as bad or even worse than inflation. In reality, the economy needs deflation now more than ever.

Inflation is not neutral, it is a hidden tax, a distortion of entrepreneurial signals, and a corrosive force against social trust.

This is not a cycle of greed. It is spontaneous order doing what it always does: finding the path around the obstruction.

In 1971, when the last formal link between the dollar and gold was severed, more than a monetary system collapsed.

Despite support from some economists in the free market camp, fractional reserve free banking is doomed for failure, as Murray Rothbard pointed out.

Despite support from some economists in the free market camp, fractional reserve free banking is doomed for failure, as Murray Rothbard pointed out.

Jonathan Newman was present as one of the Federal Reserve governors gave a talk and was able to ask questions. It seems there is not much behind the Fed’s technocratic veneer.

Our own Jonathan Newman had the opportunity to sit down with a Federal Reserve governor. The central banker's answers to Newman's questions were evasive and riddled with contradictions. It seems there is not much behind the Fed's technocratic veneer.

39 going on $40 trillion is an achievement only in the sense that many once thought we’d never see numbers this large.