Mises Wire

No amount of fantasizing can make fundamental economic realities go away, no matter how much we put our faith in central banks, government regulation, or technologies of the future.

It wasn't long ago that the pundits were talking about Venezuela's "economic miracle" which had proved all the anti-socialist naysayers wrong. But with soaring unemployment, inflation, and deficits, the Venezuelan people are unfortunately having to pay for years of ignoring economic reality.

Hendrik Hagedorn and Stefan Kooths write:

Today is Ralph Raico's birthday. He is the foremost historian of classical liberalism.

Currency rates of exchange appear to be moving in response to so many factors that it makes it almost impossible to ascertain where the rate of exchange is likely to be headed.

The Federal Reserve told a federal judge in Colorado to dismiss a lawsuit by Fourth Corner Credit Union, blocking marijuana businesses in the state from legal banking services. This is just one of the many legal conundrums the budding industry has had to face since state law branched away from federal law on marijuana.

100 percent-reserve banking is being introduced through the backdoor by U.S. regulators who remain queasy about banks runs in a future crisis.

A report on my day inside the Fed

Believe it or not, but there is a tax that I could support as libertarian. In fact, it's a tax I even would want to see. Because it fixes the problem of underfinanced government budgets and it also aligns the voting populace with the risk of "investing" in government.