Money and Banks

Once upon a time, the USA had sound, reliable money. Then, a small group of "really intelligent" people decided to "improve" it. We know the rest of the story.

Now would be a great time to stop pretending that the financial sector is "free market" or that price inflation and cost-of-living surges are somehow all the fault of "capitalism."

The Federal Reserve is no more "private" than the Environmental Protection Agency, and through its special government status, the Fed inflicts many economic crimes on regular people. 

Monetary authorities have come up with numerous clever ways of measuring money. However, they are unable even to define money, much less measure it.

There is an undeniable negative trend in European employment and wages that is a direct consequence of constantly increasing intervention in the economy.

A recession looks more likely every day, and the latest sign of this is slowing price growth in producer prices. After all, price inflation usually slows as the economy weakens and consumers run out of easy money.

The Federal Reserve has yet to get price increases anywhere near its own arbitrary 2 percent goal, but a mild slowing in growth rates has Biden claiming that price inflation is "falling."

At current interest rates, the Fed’s operating losses will impact the federal budget for years, requiring new tax revenues to offset the continuing loss of billions of dollars in the Fed’s former remittances to the US Treasury.

The difference between the trillion-dollar coin and the usual debt mechanism is simply the manner in which the taxpayers are exploited to pay for more government spending.

In a market economy, gold is sound money. There is no need for monetary authorities when gold rules.