Contrary to the longstanding myth of Fed independence and political neutrality, the Fed is a deeply political organization committed to kicking the can down the road to get the regime through just one more election without a fiscal or monetary disaster.
Forget the other mainstream explanations for interest. Time preference explains this phenomenon and gives a true picture of why interest exists in the first place.
American exceptionalism, the “treasury of virtue,” has always been the moral cover for all of this greed, racism, barbarianism, and worse. The good news today is that it is hard to think of anyone with a sound mind who would sincerely believe this any longer.
The eternal “climate emergency” is upon us. While doomsday is said to be around the corner, the reality is that the only thing rising is the level of government control.
As this author previously has noted, the ideology of statism is responsible for much of the violence that plagues the world. We see this played out in Israel's aggressive retaliatory attacks in Gaza in response to the October 7 killings by Hamas.
Washington never sleeps when it comes to declaring new overseas enemies to destroy. The new “axis of evil” now consists of Russia, Iran, and China.
The Federal Reserve is losing money, according to its official books. Does that matter, or does the Fed operate outside the bounds of the laws of economics?
The new problem we now face arises from the fact that huge deficits are only manageable so long as interest rates remain very, very low.
While Israel receives praise for being a "democracy" in the undemocratic Middle East, its surveillance policies mirror those of China, which is decidedly not democratic.
Jesús Huerta de Soto reviews Murray Rothbard's A History of Money and Banking in the United States: The Colonial Era to World War II.
