The Fed

Unfortunately Obama's Road to Serfdom is not fiction and no laughing matter.

"If there is any hope for our economic future, we must come to a sound understanding of what got us here."

The Black Book of Communism is a standing rebuke to any living soul who claims that economic understanding doesn't matter.

By flooding the credit markets with money created out of thin air, the central banks of the world are interfering with humans' attempts to communicate with each other after the housing bubble popped.

"By far the biggest fallacy is the belief that a growing economy requires a growing money supply."

The inflationary environment causes savers to divert savings from paper assets to the safer harbor of hard assets such as precious metals, commodities, or even goods used for daily use.

My own preference is, first to allow market adjustments to take place.

"Let's go back to using real money."

Guido Hülsmann offers his conclusions: the current monetary institutions (central banks, paper money, and fractional-reserve banking) cannot be justified and should be abolished; such an act should be greeted as a restoration of monetary sanity and a humane economy.