Central Banks

The “cure” to the current crisis that is forced upon all Europeans now is not just worse than the disease; it is the disease.

Shelton’s nomination is best seen as a litmus test for Republican senators. Are they interested in ideological diversity within American institutions, or willing to stand with the academic gatekeepers that have given us the Leviathan we have today?

Kristoffer Hansen joins the show to discuss everything about interest rates, as detailed by Rothbard in Chapter 6 of Man, Economy, and State. 

Without a monopolist central bank, market forces would restrain the issuance of bank notes. But once central banks monopolize money creation, wealth is systematically transferred to the central bank and the privileged few who are favored by the state.

If we choose to break the state monopoly of money and allow private digital currencies to compete, a myriad of different solutions will emerge to serve a myriad of different needs.

Without a monopolist central bank, market forces would restrain the issuance of bank notes. But once central banks monopolize money creation, wealth is systematically transferred to the central bank and the privileged few who are favored by the state.

If we choose to break the state monopoly of money and allow private digital currencies to compete, a myriad of different solutions will emerge to serve a myriad of different needs.

It's easy to dismiss MMT out of hand, but the impulse to create something from nothing resides deep in the human psyche.

Ironically, the economic collapse in Europe has united both the poor and rich members of the EU in agreement that the EU has none of their best interests at heart. The political winds have shifted and are blowing against the EU.

Sieroń comments on Book and Sumner regarding the Cantillon effect, arguing that the Austrian analysis of the Cantillon effect is correct.