Despite Their Hubris, Monetary Authorities Do Not Have Total Control
A new monetary age is coming and sooner than anyone thinks. Since 1971 the world’s monetary system has been unanchored by anything of intrinsic…
The Fallacy of Calls for a “Manhattan Project” to Solve National Economic Challenges
Many see the World War II project to build an atomic bomb as a template for government action to solve what appear to be…
The Fed Cannot Go Bankrupt; However, It Can Bankrupt the Country
A recent essay on the Mises Wire triggered quite a bit of discussion among a group of Austrian school economists. Paul H. Kupiec and Alex J….
End Legal Tender Laws
Mention the term “legal tender” in polite company and most people will resemble a deer in the headlights. In simple terms legal tender is…
Reinventing the Gold-Backed Deutsche Mark
The seeds of sound-money destruction were sown at the 1944 Bretton Woods Conference, which established that US dollars could be held as central bank reserves…
6 Reasons Why a Trade War with the Chinese Is Pointless
In a recent post I explained that China’s manipulations of its own currency hurt only herself and not her trading partners and, therefore, retaliatory…
China’s Currency Manipulation Harms China — Not Its Trading Partners
Americans are being told that China’s currency manipulations are causing harm to its trading partners, America being the main victim. Nothing could be further…
Can an Economy Advance Without Savings?
According to Frank Decker, Honorary Associate at the University of Sydney Law School, it certainly can. Not only that, but eschewing savings in favor…
Where Negative Interest Rates Will Lead Us
Despite zero-interest-rate-policy (ZIRP) and multiple quantitative easing programs — whereby the central bank buys large quantities of assets while leaving interest rates at practically…
Currency war means currency suicide
What the media calls a “currency war,” whereby nations engage in competitive currency devaluations in order to increase exports, is really “currency suicide.” National…