Monetary Policy

Yogi Berra, Hall of Fame catcher with the New York Yankees, used to say, “Always go to other people’s funerals.

The velocity of money doesn’t have a life of its own. It is not an independent entity and, hence, it can’t cause anything. Contrary to popular thinking, money does not circulate. Money always belongs to somebody.

Alexander Salter and Joshua Hendrickson argue that the Fed's actual institutional role is to backstop U.S. dollar hegemony.

One must ask the decisive question: if fiat money is genuinely superior, why would coercion be required to impose it upon those who would supposedly benefit from its existence?

Mainstream economists believe that if government increases spending and injects new money into the economy, then productive wealth will follow. Austrian economists would like to differ.

The Federal Reserve might be experiencing a change of leadership, but the process of currency debasement that began more than a century ago continues.

The standard line among most economists is that deflation is as bad or even worse than inflation. In reality, the economy needs deflation now more than ever.

The standard line among most economists is that deflation is as bad or even worse than inflation. In reality, the economy needs deflation now more than ever.

Various inflation measures conceal more than they reveal, largely because they exclude measuring a large portion of high-inflation items.

Governments take valuable things like paper and minerals, stamp something on them, and call them money, in the process rendering these things almost worthless. Something is wrong with this picture.