Monetary Policy

Decades of low interest rates have ruined saving in the US economy, and banks are going to pay dearly for it.

Autoworkers are angry at their working situation and are striking for higher wages and a shorter work week. Their anger is misdirected.

Autoworkers are angry at their working situation and are striking for higher wages and a shorter work week. Their anger is misdirected.

Keynes denounced monetary gold as "a barbarous relic." In the end, it will be that "barbarous relic" that overthrows the regime of paper currency.

As the national debt explodes and the federal government ramps up borrowing and spending, borrowing costs increase as well. Ordinary Americans will suffer the effects in due time.

Supposedly, the "big news" is the decline of inflation. However, the monetary and political forces driving the latest bout of inflation have not gone away.

Since the end of World War II, the US dollar has been the world's reserve currency. That status may well change because US monetary authorities insist on inflating the dollar into oblivion.

In the wake of bad news on inflation, the Federal Reserve is pushing up interest rates. However, a Fed-induced higher rate is not the same as an interest rate decided by the market.

While court economists such as Paul Krugman insist that inflation is government's way of ensuring full employment, in reality, inflation is one of the many ways governments steal from productive people.

We should not just be concerned about problems in the American banking system, but also about the proliferation of Eurodollars.