Inflation

What does the state do when in a financial fix? Unlike the rest of us, it legally counterfeits. By so doing, it transfers wealth to those who are politically connected—and then lies about it.

Keynesian economists believe that the key to increasing economic growth is increasing the supply of money in circulation. Money, however, is a means of exchange, not a means of payments. The difference is vital to understanding economics.

While her record is hardly perfect, Judy Shelton has been a rarity among monetary economists: an advocate for gold and sound money.

Keynesian economists have no good explanation for stagflation, rising rates of both inflation and unemployment. However, the Austrian School has long pointed out that sustained inflation has a predictable pattern that leads ultimately to stagflation.

State-sponsored fiat money has been the norm for more than ninety years, but its very instability makes it vulnerable to a regime of sound money.

Ordinary people cannot stop the Fed and the government from inflating the currency, but they can take measures to shield themselves from some of its harmful effects. Mark Thornton presents a few ideas on how it can be done.

Keynesian economists believe that the key to increasing economic growth is increasing the supply of money in circulation. Money, however, is a means of exchange, not a means of payments. The difference is vital to understanding economics.

While her record is hardly perfect, Judy Shelton has been a rarity among monetary economists: an advocate for gold and sound money.

Mainstream economists claim money has purchasing power because the government issuing the money has so declared. That makes no sense.

Many people are selling their gold to make ends meet. Others are buying gold as insurance against mounting price inflation.