This month marks fifty years since President Richard Nixon closed the “gold window” that had allowed foreign governments to exchange US dollars for gold. Nixon’s action severed the last link between the dollar and gold, transforming the dollar into pure fiat currency. Since the “Nixon shock” of 1971, the dollar’s value — and the average American’s
Our Federal Government’s Balance Sheet: Putting the Cart Before the Horse The Financial Report of the U.S. Government for 2020 included a balance sheet with $6 trillion in assets and $33 trillion in liabilities, leaving a negative net position of about $27 trillion. Those reported liabilities exclude tens of trillions of dollars of unfunded
This Friday marks one of the most important economic events of the year. But even Jackson Hole could not escape the threat of the latest variant, as the Kansas City Fed recently announced that due to an elevated covid risk, the event is to be held virtually. The public is welcomed to tune in this Friday, August 27, at 10 a.m. EST via the Fed’s
Last week’s decision by the Federal Reserve to pause on interest rates left many unanswered questions, despite reporters raising them during the Q & A session . While the average person may be skeptical that the Fed can control inflation by simply raising interest rates, it’s still a position the Fed holds onto dearly. The problem is that Chair
Just over a week ago, America’s national debt surpassed $32 trillion. As of Friday this week, it climbed to $32.1 trillion , and the prospects for reducing the debt appear to be nonexistent. This is primarily due to the continuous raising of the debt ceiling and the role played by the Federal Reserve in the money creation process. According to Fox
Attention Upper Division Undergrads and Grad Students! We realize that many of you are just getting the hang of summer and perhaps the last thing on your mind as it warms up is exercising your mind, but we have a great opportunity for you at the end of summer that you will want to apply for right now! The Ron Paul Institute is pleased to announce
On Thursday, Federal Reserve Chair Powell delivered a speech titled Financial Stability and Economic Developments , in which he drew comparisons between the current economic situation and the last two recessions. His first comparison was to the Great Recession of 2007-09, stating that it required: extraordinary interventions by governments
The Mexican Peso (MXN) has been perhaps the strongest currency in the post-pandemic era, going from $4 US Dollars per $100 Mexican Pesos as the crisis started in March 2020 to shy under $6 US Dollars per $100 Mexican Pesos in the present, which is a 50 percent increase in three years, or around a 15 percent increase per annum. Around half of this
The latest meeting minutes of the Federal Open Market Committee (FOMC) offers valuable insights into the make-believe nature of monetary policy. While the true motives of the Fed’s inner circle may forever remain a mystery, it is evident their narrative revolves around the quest for an ideal economic state or finding a “Goldilocks Zone” of
While Americans were enjoying hot dogs and fireworks this Fourth of July, federal Judge Terry A. Doughty commemorated Independence Day by striking a blow for the separation of big tech and state. Specifically, he issued a preliminary injunction prohibiting a number of government officials and agencies from communicating with social media companies
What is the Mises Institute?
The Mises Institute is a non-profit organization that exists to promote teaching and research in the Austrian School of economics, individual freedom, honest history, and international peace, in the tradition of Ludwig von Mises and Murray N. Rothbard.
Non-political, non-partisan, and non-PC, we advocate a radical shift in the intellectual climate, away from statism and toward a private property order. We believe that our foundational ideas are of permanent value, and oppose all efforts at compromise, sellout, and amalgamation of these ideas with fashionable political, cultural, and social doctrines inimical to their spirit.