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The Federal Reserve now owns $2.6 trillion in mortgages. That means about 24 percent of all outstanding residential mortgages in this whole big country reside in the central bank.
The Washington class could miscalculate and use force against the "deplorables." And if it reaches that point, the veneer of democratic legitimacy will be erased.
There was truth in the war-cry of the bimetallists that a "crime against silver" had been committed; but the crime was really the original imposition of bimetallism in lieu of parallel standards.
Since discrimination in any form is not aggression, force, coercion, violence, or threat, it should never be considered a crime.
Money and Banks
When we ask ourselves the question, “Can states survive without fiat currency?” the answer is clearly yes.
Gabriel Boric is no friend of free trade, low taxes, or markets in general. Yet these policies are what made Chile the most prosperous country in South America.
Turkey's President Erdoğan faces a series of crises as the lira collapses and the state's central bank steps in to clean up the mess.
The adoption of gold as the preferred commodity money was never inevitable or based on some sort of natural law of money. Many coincidences and political schemes were key factors.