When the Fed Tried to Save Main Street

– April 1, 2020

Any day now, the Federal Reserve will start making loans to small and medium-sized businesses, breaking new ground with its Section 13(3) lending authority. Yet this won’t be the first time the Fed set its sights on Main Street businesses.

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Judy Shelton: Golden Nominee for a Tarnished Fed

– March 7, 2020

Dr. Judy Shelton is polite, soft-spoken, and diminutive – yet she seems capable of scaring the bejesus out of full-grown adults and “leaders” in American politics, academia, and media. Why? For decades she’s been a global expert on money, monetary poli …

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Judy Shelton Is Right: The Fed Is Lawless

– March 7, 2020

Judy Shelton, President Trump’s nominee to the Federal Reserve board, got little love in her pre–Valentine’s Day confirmation hearing. (Shelton was previously the director of the Sound Money Project, prior to its moving to AIER.) Regardless of what cri …

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The Fed Cannot Combat Coronavirus

– March 5, 2020

At a campaign speech on February 29, Senator Elizabeth Warren (D-Mass.) introduced her economic plan for combating COVID-19, more commonly known as the coronavirus.  The Warren plan has two elements. First, it calls for “a major targeted fiscal st …

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Federal Reserve Codependence with Government Debt

– March 5, 2020

For those familiar with the structure of quantitative easing, Bernanke’s claim to noble behavior by the Federal Reserve in its program of quantitative easing causes no small amount of cognitive dissonance.

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Bootleggers, Baptists, and Banking

– March 4, 2020

Big tech giants like Amazon, Google, and Facebook are trying to enter the banking business. But they’re facing stiff resistance from a number of sources.

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The $1 Coin: World’s Worst Monetary Idea

– March 2, 2020

There are a lot of bad monetary ideas floating around. Few are as awful as the American one-dollar coin, however. Despite almost fifty years of existence, the $1 coin has perennially failed to gain currency in the US.

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The Coronavirus Reveals the Limits of Monetary Policy

– March 2, 2020

There is a growing buzz in the media that the Federal Reserve and other central banks should provide support due to any slowdown that accompanies the coronavirus.

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Are All Cryptocurrencies Pyramid Schemes?

– February 27, 2020

All moneys and valuable items are pyramid schemes, and all holders of money and valuable items hope that the next person in line will pay more for them. That’s how monetary balances work. No big deal.

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The Technocrats Will Not Save Us

– February 24, 2020

Besides the certainty, as they say, of death and taxes, one other highly likely event will be an end to the general “good times” of relatively low price inflation and low unemployment in America. In other words, the United States will eventually experi …

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Dollarization in Ecuador after 20 Years

– February 18, 2020

In January, Ecuador celebrated its 20th anniversary of dollarization. The Bastiat Society of Guayaquil and the Instituto  Ecuatoriano de Economia Política organized a conference to discuss the pros and cons of Ecuador’s monetary regime. Internatio …

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Fedophilia: The Intellectual Disease and Cure

– February 14, 2020

When most monetary economists talk about the virtues of this or that central bank, they’re mostly talking through their hats, because they haven’t a clue concerning what other institutions might be present, and what they might be up to if the central bank wasn’t there.

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