Monetary Policy

The Fed has abandoned its own rules on "price stability" in order to favor what are essentially higher inflation targets. The Fed is now headed down a road it traveled in the 1970s.

A zero interest rate policy, unlimited asset buying, Wall Street bailouts, etc. This is a never-ending monetary accommodation that leaves you asking: What else will the Fed do after inflation averaging?

As confidence in the dollar falls, Americans put more of their money in gold, silver, and cryptocurrencies. State governments can help this process along by deregulating sound money.

The most important insight of the Fed's move to increase its inflation target is this: central banks don't much like to follow "rules." They make the rules.

Those who advocate for a "weak dollar" to encourage trade with American firms show how little confidence there is in American industry. Meanwhile, cheapening the dollar punishes savers and ordinary workers.

As confidence in the dollar falls, Americans put more of their money in gold, silver, and cryptocurrencies. State governments can help this process along by deregulating sound money.

As a follow-up to his discussion on MMT with Rohan Grey, Bob goes solo to explain the basic cash balance framework for thinking about money, inflation, and debt.

If there is a new dawn, it is for the Sinicization of Europe—China-style stimulus administered alongside a severely ailing financial system kept whole by widespread financial and monetary repression.

According to Keynesians, wealth effects result from money creation, and they have a beneficial impact. The Keynesians are right that wealth effects exist. But they're wrong about who benefits.

If there is a new dawn, it is for the Sinicization of Europe—China-style stimulus administered alongside a severely ailing financial system kept whole by widespread financial and monetary repression.