The right way to tackle the problem of inequality is to end inflationary monetary policies. A fortune made through production is a fortune made by serving others. But a fortune made from inflation is a fortune made at the expense of others.
While the White House claims that inflation is losing steam, the truth is that unless the government changes its reckless monetary course, hyperinflation could be in our economic future.
Inflation in Turkey today is officially running close to 70 percent, but the Turkish economy seems to be booming. Inflationary booms, however, cannot be sustained.
While the Fed tries to engineer the mythical “soft landing” for the economy, Austrian economists know that this is an exercise in futility. Once the credit-fueled boom occurs, the bust logically follows.
Advocates of unbacked paper money claim that theirs is the “civilized” choice, as opposed to gold, or what Keynes called “that barbarous relic.” These inflationists, however, are the ones wrecking civilization as we have known it.
While the ruling elites and the Federal Reserve try to sell digital money as “modern” and “convenient,” it poses threats to financial privacy and civil liberties.
Recorded at the Mises Circle in Fort Myers, Florida, 4 November 2023.
The Federal Reserve is losing money, according to its official books. Does that matter, or does the Fed operate outside the bounds of the laws of economics?
Inflation in Turkey today is officially running close to 70 percent, but the Turkish economy seems to be booming. Inflationary booms, however, cannot be sustained.
While the White House claims that inflation is losing steam, the truth is that unless the government changes its reckless monetary course, hyperinflation could be in our economic future.
