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“The Federal Reserve System was created in 1913 and soon did what central banks almost always do: it started printing lots of money. During World War I the Bank of England inflated its money supply, and as a result a significant amount of gold flowed o …
READ MOREIt’s absolutely mind-boggling to think that Congress can successfully regulate something as complex as the entire financial industry. I don’t believe it for a second. These are the same legislators who just lost billions in TARP funds. These are the sa …
READ MOREThe Wall Street Journal has created a good graphic illustration displaying the development of the Fed’s balance sheet during the financial crisis. Assets on the balance sheet are currently $2.333 trillion, of which the main part consists of mortgage-ba …
READ MORE“In a recent blog post, Peter Boettke argues that in reading F.A. Hayek it is important to distinguish between Hayek and Hayekianism. Because Hayek, as a lifetime learner, did not always apply his ideas as fully he possibly could have, Hayek the man wa …
READ MORE“In a recent column, Nobel Prize winning economist Paul Krugman claimed that the government needs to have two important duties in finance. First, it must keep interest rates low; second, it must strictly regulate where the newly created money goes. Now …
READ MOREThe Euro keeps tumbling as international investors are loosing faith in the Eurozone. The currency has so far fallen 14 percent against the dollar this year. There is fear that contagion could trigger “Greek” debt crises among other EU countries with w …
READ MORE“The growing narrative in Washington is that a decades-long unraveling of the regulatory system allowed and encouraged Wall Street to excess, resulting in the current financial crisis. Left unchallenged, this narrative will likely form the basis of any …
READ MORE“Early this year, it was our belief (and forecast) that the Federal Reserve would start lifting interest rates from their current level of near zero by mid-year 2010. Our view has been that 0% interest rates are too low, that the economy would be (and …
READ MORE“The U.S. Congress should be forced to take the same oath that doctors take to “first do no harm.” Because more often than not, under the guise of “fixing” a problem, Washington makes things much, much worse for hard-working middle-class families and s …
READ MORE“Inflations have undermined the cultural and economic fabric of society, bringing social chaos and revolution. One example is the Great Chinese Inflation of the 1930s and 1940s. Indeed, the destruction of the Chinese monetary system during this period …
READ MORE“In the commercial, Whitacre says GM has ‘repaid our government loan in full.’ Rep. Paul Ryan (R-Wis.) noted that GM used government funds to pay back the government: It ‘simply transferred $6.7 billion from one taxpayer-funded TARP account to another. …
READ MORE“Everything that is done by a government against the purchasing power of the monetary unit is, under present conditions, done against the middle classes and the working classes of the population. Only these people don’t know it. And this is the tragedy …
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