Money and Banks

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The Political Alchemy Called Modern Monetary Theory

Money and Banks

Blog09/14/2021

MMT is a pseudoreligious conviction that anything is possible and that the one and only solution is always Glorious Government.

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The Fed's Plan Is Failing: Stagflation Looms as Job Growth Stalls

Money and Banks

Blog09/06/2021

The Fed’s apparent plan to somehow get to full employment and then deal with inflation sounds nice, but reality could easily derail the plan. Meanwhile, job growth is low and prices are rising.

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We Don't Need a Central Bank to Deal with Changes in the "Demand for Money"

Money and Banks

Blog09/04/2021

Just because the demand for money changes over time doesn't mean we need a money supply that changes over time also. 

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Don't Be Fooled by the Fed's Taper Talk

Money and Banks

Blog08/23/2021

There won't be a taper tantrum if the Fed seriously moves toward tapering. Investors now understand how the game works. Tapering doesn't actually mean the end of monetary inflation, and everyone knows it. 

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The Secret Ronald Reagan Told Me about Gold and Great Nations

Money and Banks

Blog08/19/2021

Fifty years after Nixon closed the gold window, prices are heading toward 1970s-era increases. Yet the Fed cannot increase interest rates as long as the politicians keep creating billions of new debts.

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Two Percent Inflation Is a Lot Worse Than You Think

Money and Banks

Blog08/18/2021

Even at a "mere" two-percent level, cumulative price increases over time are nothing to scoff at. Even worse, if we look at what people really spend money on, price inflation doesn't much reflect the conclusions of "official" stats.

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Why Rothbard Trended on Twitter This Weekend

Anti-PoliticsMonetary PolicyMoney and BanksMonetary TheoryMoney and Banking

Blog08/16/2021

On Friday, Twitter CEO Jack Dorsey tweeted a link to Rothbard's essay "Anatomy of the State."

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The End of the Sound Economy

Money and Banks

Blog08/16/2021

“We crossed the Rubicon in 2008. We crossed a different Rubicon in 2020. And we're never going back. And so, recessions are not allowed." The money mandarins will do everything they can to prop up asset values. Forever.

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How Nixon and the Rockefellers Teamed Up to Destroy the Dollar

Money and Banks

Blog08/16/2021

In 1971, David Rockefeller favored a “new international monetary system with greater flexibility” and “less reliance on gold.” Seeing an opportunity to expand his own power, Richard Nixon enthusiastically embraced the scheme. 

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How Nixon and FDR Used "Crises" to Destroy the Dollar's Links to Gold

Money and Banks

Blog08/14/2021

In 1971, Nixon used a fiscal crisis to justify severing the dollar's last connection to gold. It was the same old story: "we must vastly expand government power because of a 'crisis.'" The government never gives up these new powers. 

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