At current interest rates, the Fed’s operating losses will impact the federal budget for years, requiring new tax revenues to offset the continuing loss of billions of dollars in the Fed’s former remittances to the US Treasury.
Inflation at an annual rate of 5 percent is not a positive, and it is certainly not falling prices. Inflation is accumulative, and this means we are becoming poorer faster.
The difference between the trillion-dollar coin and the usual debt mechanism is simply the manner in which the taxpayers are exploited to pay for more government spending.
Government interference into money creation and production harms the economy in a number of ways, including skewing the organization of division of labor.
Forget minding your own business. Ours is the age of invasive politics, demanding we take sides no matter how much we would like to be left alone.
Now would be a great time to stop pretending that the financial sector is "free market" or that price inflation and cost-of-living surges are somehow all the fault of "capitalism."
Remember Lady Justice, who wears a blindfold and holds the scales? She is a state creation, too, and when it comes to state wrongdoing, her thumb holds the scales down.
Fiat money is the fuel of the modern Leviathan state. If we wish to have freedom, we must have sound money.
No one will read For a New Liberty and not see the world with very different eyes afterward.
Once upon a time, the USA had sound, reliable money. Then, a small group of "really intelligent" people decided to "improve" it. We know the rest of the story.
