Monetary Policy

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.

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.”

While most of us are familiar with Gresham‘s Law, we should remember that it does not mean that bad money is preferred to good money. Instead, it refers to a situation in which government mandates that inferior and superior money legally have the same face value.

The democratic mandate of the incoming Trump administration, along with Republican control of Congress and a confrontation of wills between the Pre

Federal oversight of each recycled metal transaction would be an intrusion into the daily life of the individual and business on an unseen scale.

Just ignore the economists, says a recent

On this day 106 years ago, the warring parties of World War I agreed to an armistice, ending more than four years of slaughter in the trenches. As Ludwig von Mises recalled, governments also slaughtered their own currencies to pay for the bloodshed.

Not all news from the gold and monetary fronts is bad. In fact, gold made a number of advancements in seven states, including exemptions from taxes and attempts by states to restrict Federal Reserve behavior. Gold is alive and well.