The Fed

While President Joe Biden's White House continues to give happy talk about the economy, some major economic storm clouds are brewing. The future does not look good.

Fiat money is the fuel of the modern Leviathan state. If we wish to have freedom, we must have sound money.

Government interference into money creation and production harms the economy in a number of ways, including skewing the organization of division of labor.

What happens to a society when spending is encouraged and saving is for chumps? 

Does cheap money and credit make us richer? Does more money and credit create more stuff, or better stuff? Do they make us happier and more productive? Or do these twin forces actually distort the economy, misallocate resources, and degrade us as people? These are the fundamental questions that Jeff addresses.

The Fed is insolvent, and that means that it will bail itself out by printing money. For ordinary people, that means inflation and a rising cost of living. 

These days, the Fed and Chairman Jerome Powell are claiming the title of "inflation fighters." The more appropriate moniker should be "inflationists."

Now would be a great time to stop pretending that the financial sector is "free market" or that price inflation and cost-of-living surges are somehow all the fault of "capitalism."

The Federal Reserve is no more "private" than the Environmental Protection Agency, and through its special government status, the Fed inflicts many economic crimes on regular people. 

Monetary authorities have come up with numerous clever ways of measuring money. However, they are unable even to define money, much less measure it.