The Fed

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Is There a Case for the Pre-1914 Gold Standard? Yes, If You Believe Inflation Is a Bad Thing

Booms and BustsCentral BanksThe FedMoney and BanksGold Standard

Blog04/16/2022

Academic economists since John Maynard Keynes have mocked the classical gold standard, but when government implemented their system, we got inflation and destruction of the currency. Time to rethink the success of that gold standard.

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How the Fed's Tampering with the Policy Rate Affects the Yield Curve

Central BanksThe FedBusiness CyclesCapital and Interest Theory

Blog04/16/2022

Thanks to the Fed's monetary gyrations, we are seeing the yield curve acting abnormally. However, one cannot get something from nothing and market forces ultimately will frustrate the Fed's designs.

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The Fed Can't Fix the Economy, but It Can Break It

Booms and BustsCentral BanksThe FedInflationBusiness Cycles

Blog04/08/2022

Despite assurances from politicians and the media, the Federal Reserve System is not a collection of geniuses who stand guard against inflation and recession. Instead, think of the Fed policy makers as the Keystone Cops of central banking.

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Do "Inflationary Expectations" Cause Inflation? Contra Krugman, the Answer Is No

Central BanksThe FedInflationMoney Supply

Blog04/07/2022

Paul Krugman recently wrote that the reason we see high inflation is that people mistakenly believe inflation is in our future and act accordingly. This reasoning is false.

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Putin's Inflation? Homegrown Modern Monetary Theory Is to Blame

Central BanksThe FedMacroeconomicsMonetary Theory

Blog04/04/2022

Advocates of modern monetary theory promise a cornucopia of goods and jobs if only the government has the "courage" to print money at will. Sound economic analysis, however, exposes MMT as fraudulent.

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Central Banks: Who Needs Them? No One

Booms and BustsCentral BanksThe FedBusiness CyclesMoney and Banking

Blog03/31/2022

Central banks, and especially the Federal Reserve System, continue to churn up inflation and the boom-and-bust cycles—in the name of "stabilizing" the economy.

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A Review of Nik Bhatia’s Layered Money: From Gold and Dollars to Bitcoin and Central Bank Digital Currencies

BitcoinThe FedMoney and BanksMonetary Theory

Blog03/28/2022

Nik Bhatia presents a counterintuitive view of how money operates in our current banking system and takes a glimpse into our monetary future.

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Central Banks Have Broken the True Savings-Lending Relationship

Booms and BustsThe FedMonetary PolicyMoney and BanksBusiness CyclesMoney and Banking

Blog03/28/2022

While the usual characters praise central banks for supposedly bringing economic stability, Dr. Shostak explains that their presence makes things unstable because they break the relationship between saving and lending.

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Will Inflation Turn into Stagflation?

The FedInflationMonetary Policy

Blog02/21/2022

The Fed is, effectively, a car driving at night, very fast, with no headlights. That is a real threat, probably to an unprecedented degree.

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