Money and Banks

While we speak of a desire for honest money, the larger problem is that the Federal Reserve System cannot coexist with an honest money regime.

The only lesson for the United Kingdom is to remember that if you follow Greece’s economic policies, you get Greek debt, unemployment, and growth.

The control of money is extremely convenient to governments, especially to have their own central bank to buy their debt when they are out of money.

We can't count on the Fed regulating itself or that some especially hawkish chairman will appear to save us from the worst excesses of fiat money.

Insurance protects individuals from events that cannot be foreseen. As Murray Rothbard noted, however, deposit insurance exists to "protect" a system that is inherently bankrupt.

What happens when banks lend money? It depends on the lending process itself. If lending comes about because of an expansion of credit, then it creates problems.

Recorded at the Arizona Biltmore Hotel in Phoenix, Arizona on October 7, 2022.

Recorded at the Arizona Biltmore Hotel in Phoenix, Arizona on October 6th, 2022.

What happens when banks lend money? It depends the lending process itself. If lending comes about because of an expansion of credit, then it creates problems.

The US dollar is not the world's "reserve" currency because of responsibility on behalf of the monetary authorities. Instead, the dollar's "strength" wages from the USA's self-appointed role as the world's protector.