Real savings the heart of credit
byBy Dr Frank Shostak By popular thinking banks are always ready to abide to increases in the demand for credit. Now, it is generally…
Against the Destruction of Western Civilization
byIt is possible for people to live together peacefully and productively. But politics damages and even destroys the necessary foundations. In fact, the damage…
Do robots reduce wages?
byIn the early days of automation, machines ruthlessly decimated workers’ place in the commercial order, and in return, only proffered employment which many of…
Mont Pelerin Society at Bretton Woods
byEarlier this month I gave a speech at the Mont Pelerin Society at Bretton Woods, to mark the eightieth anniversary of the inception of…
The Federal Reserve is Running Losses. Does This Cost Anyone Anything?
byFinancial statements of the US Federal Reserve, which consists of the board of governors in Washington and twelve district reserve banks across the country, indicate that…
The Interest Rate Shock Will Blow Up the Government’s Ponzi Game
byIn the international fixed-income markets, interest rates are rising, and the decades-long trend of declining bond yields has undoubtedly been broken. On August 2,…
Constructive and Destructive Roles of Credit
byThis article defines credit, a subject upon which there is a lack of public knowledge. What people call money is in fact credit, and…
A Review of the Book A History of Money and Banking in the United States: The Colonial Era to World War II
byA Review of the Book A History of Money and Banking in the United States: The Colonial Era to World War II by Murray…
Heading Toward Another U.S. Government Default
by“How did you go bankrupt?” Bill asked. “Two ways,” Mike said. “Gradually and then suddenly.” Ernest Hemingway, The Sun Also Rises, 1926. The financial position…
The Dangers of a “Cashless” Economy
byBefore delving into the dangers of eliminating cash and mandating that all transactions be conducted by digital means, let us briefly discuss the legal…