The Act gave the secretary of the Treasury the power to require all individuals and corporations to hand over all their gold coin, gold bullion, or gold certificates if in his judgment "such action is necessary to protect the currency system of the United States."
The Fed's predictable response to inflation is based on erroneous economic thinking common with Keynesians. Only a free-market approach can reduce inflation and restore true market interest rates.
Historians praise the US entry into World War I because it enabled an Allied victory. But it also led to the economic disasters of the 1920s and ’30s.
Ending the string of economic crises that have occurred the past two decades will happen only when economies can depend upon sound money.
Federal Reserve officials, for all of their alleged wisdom and education, have a knowledge problem. Hayek and other Austrians could have told them their grandiose plans will fail.
All too often, elite mainstream economists' policy recommendations are built on fallacies. We shouldn't listen.
The common view of inflation is that it is defined as a general increase in prices. Actually, inflation is expansion of the money supply that results in price increases.
The Federal Reserve has not only mismanaged the US economy; even its own "portfolio" is underwater.
The Fed's predictable response to inflation is based on erroneous economic thinking common with Keynesians. Only a free-market approach can reduce inflation and restore true market interest rates.
Historians praise the US entry into World War I because it enabled an Allied victory. But it also led to the economic disasters of the 1920s and ’30s.
