The Mises Institute is giving away copies of Murray Rothbard's classic, What Has Government Done to Our Money? and it will change how one sees our nation's monetary history. Rothbard presents a clear case for sound money as a basis for civilization itself.
The Fed lowers interest rates ostensibly to “stimulate” the economy. But while the Fed claims it is strengthening the economy, it actually weakens it through its easy-money policies.
The Federal Reserve continues to be the not-so-silent partner to the government's reckless deficit spending scheme. While the Fed tries to force down interest, US bond yields are rising, as the markets recognize these bifurcated policies.
The Federal Reserve says it can manipulate the money supply to ensure “price stability.” This worsens the boom-bust cycles and undermines the economy.
Nicolaus Copernicus is best known for his observation that the sun was at the center of our solar system, but he also made a number of astute observations about economics.
In his failed 1896 presidential campaign, inflationist William Jennings Bryan declared that he would “not crucify mankind on a cross of gold.” But at least even Bryan favored silver money. Today‘s political candidates will crucify us on a cross of paper.
Can an increase in the supply of gold cause a boom-bust cycle? Mises believed it was theoretically possible but highly unlikely. Rothbard, on the other hand, said as long as gold is money and there is no fiduciary media, such a scenario was not possible.
The gold standard hampers the growth of government power, which helps people more effectively fight bad policy.
We have reached this point: the government keepers of money do not even understand what money is or why inflation is harmful. To them, the real threat to the economy is “deflation.”
Long before there was Alan Greenspan to turn the Federal Reserve into Casino Central, there was John Law, France's minister of finance.
