Money and Banks

(Frankfort, Kentucky) -- In a high-stakes showdown with Gov.

Jordan Klepper: You need to-- you know what you need to do?

George Ford Smith reviews Robert Murphy’s book Understanding Money Mechanics. Murphy, he writes, both explains money and why fiat money is such a dangerous thing in the hands of governments bent on grabbing power and abusing citizens.

Although fractional reserve banking is the most popular model for banking, it is fraudulent at its core, something the Austrians have noted for many years.

The regime remains unrepentant, and there is little danger that it will admit its role in fueling the price inflation that is now crippling many ordinary Americans. 

Contrary to popular opinion, bank capital is not a reserve to cover potential losses. In fact, even the ill-fated Silicon Valley Bank had adequate bank capital before it collapsed.

On this day ninety-one years ago President Franklin D. Roosevelt via executive order seized gold legally held by Americans, criminalizing the use of sound money. Our economy and our nation has never recovered from this act.

Do you like your central bank capital positive or negative? The Fed is bankrupt, but even after taking recent losses, the Swiss National Bank still has positive capital. 

In a new book, The Natural Order of Money, Roy Sebag argues that money is the "extension of the natural order," and that it is not arbitrary.

Although fractional reserve banking is the most popular model for banking, it is fraudulent at its core, something the Austrians have noted for many years.