Ben Bernanke

Long-Discredited Positions on the Monetary System

– July 31, 2020

“Considering the evidence, it appears to be Mr. Rattner, rather than Ms. Shelton, who holds “long-discredited positions on the monetary system.” Historical bank failures and crises, particularly during the Great Depression, are generally attributable to interference by regulators and central bankers, not to the gold standard.” ~ Thomas L. Hogan

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fed building dc

Inflation, Credit Allocation, and the Fed

– July 31, 2020

“At the behest of Congress, the Fed has opened new facilities far afield of its traditional mandate. There is still some risk that the Fed will lose control and inflation will get out of hand. But there is a much bigger risk that the Fed will misallocate credit, reducing long run economic growth in the process.” ~ James L. Caton

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fed facade

The Federal Reserve Is Both Too Politicized and Too Powerful

– July 30, 2020

“If we don’t want history to remember COVID-19 as the event that cemented political control over monetary policy, we need to act soon. The Fed’s emergency programs must be halted and eventually retired; its balance sheet must shrink to pre-crisis levels; and Congress must cease directing the Fed to engage in fiscal policy, even amidst extraordinary economic turmoil.” ~ Alexander W. Salter

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gold bars

Gold and Free Banking versus Central Banking

– July 27, 2020

“In the absence of government regulation and monopoly control, a free monetary and banking system would exist; it would not have to be created, designed, or supported. A market-based system would naturally emerge, take form, and develop out of the prior system of monetary central planning.” ~ Richard M. Ebeling

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federal reserve

The Fed Can’t Make Pi

– July 22, 2020

“Changing the value of pi would be a disaster for physics, engineering, and architecture. Changing the definition of liquidity would be a disaster for the economy.” ~ Thomas L. Hogan

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coin shortage sign

The Coin Shortage: A Big Deal about Small Change

– July 19, 2020

“Our smaller denomination coins cost more to produce than they are worth, and burden our transactions with tedious calculations. Temporarily, due to the virus, some of our businesses are suspending dealing in these coins. Perhaps soon we will replace our coinage with one that makes sense.” ~ Clifford F. Thies

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congress cracked

Sham Bailout Statistics Shroud Shutdown Tyranny

– July 16, 2020

“There is no reason to assume that Trump’s policies are better than his PPP data. Since the onset of the pandemic, both political parties and officials at all levels of government have often performed dismally. The biggest mistake Americans could make would be to permit politicians to absolve themselves now by giving away more of other people’s money.’ ~ James Bovard

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gold standard

That Civilized Relic: A Monetary System as Good as Gold

– July 16, 2020

“The gold standard isn’t perfect. No system is. But it has many virtues. A strong case can be made that it’s the best of all feasible institutional alternatives. As my dissertation adviser, Lawrence White, puts it: The gold standard is still the gold standard among monetary systems.” ~

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cash

The Fed’s Liquidity Confusion

– July 14, 2020

“Fed lending to nonbank companies and municipalities is not liquidity provision; it’s credit allocation. It’s an area in which the Fed should not be involved.” ~ Thomas L. Hogan

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Where Have All the Coins Gone?

– July 11, 2020

“We should acknowledge the weaknesses of our current system and make improvements if possible. At a minimum, that means scrapping the penny. More fundamental reforms, like permitting competition in coinage, would be better still.” ~ William J. Luther

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capitol hill

Brace Yourself for Bipartisan Spending Insanity

– July 10, 2020

“Sadly, we live in this world. And in this world, members of Congress and the administration don’t care about the size of government, any more than they care about most of our other freedoms.” ~ Veronique de Rugy

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piggy bank

What Can Be Done to Remedy the Coin Shortage?

– July 8, 2020

“The US Mint could focus all of its resources on producing dimes and quarters, not silly pennies. This would put an end to the US’s coin shortage, almost immediately.” ~ J.P. Koning

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