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Money and BanksMoney and Banking
Recessions emerge when the central bank reverses its loose monetary stance. But the seeds of recession were sown earlier by private lending practices that grew out of central-bank money creation.
Bureaucracy and RegulationPricesValue and Exchange
The unintended consequences of government regulation lead to even more government coercion.
It is not possible to generate something out of nothing as suggested by Keynes and his many followers.
It's true that the Fed doesn't directly set a target for money creation. But by setting interest-rate targets, the Fed adopts a de facto policy of money creation.
To keep market share, business owners must respond to increases in consumer demands — even if owners suspect demand is being goosed by money printing.
Money and BanksMoney and BankingMoney Supply
In this interview, Joseph Salerno discusses how he and Murray Rothbard developed a better measure of the money supply.