Money: Its Importance, Origins, and Operations
Murray Rothbard explains money in his book The Mystery of Banking. The purchasing power of the dollar varies inversely with the supply of dollars, and directly with the demand.
Murray Rothbard explains money in his book The Mystery of Banking. The purchasing power of the dollar varies inversely with the supply of dollars, and directly with the demand.
"Most of the advocates for tender laws are those who have debts to discharge, and who take refuge in such a law, to violate their contracts and cheat their creditors."
The Fed is losing a lot of money. The Fed's stated plan is to monetize these losses and still report a positive capital and surplus position through the use of “creative accounting.”
When asked to quantify how a 75-point hike is better than a 50-point one, Powell had no answer. And will it work? Powell could only say "we'll know when we get there."
Digitization will undoubtedly bring great improvements and new opportunities for peoples’ lives. But digitization also has a downside.
It is the fiat monetary system itself, not deflation, that helps create the unstable conditions that lead to financial crises.
The Federal Reserve has created a tsunami of new money, but a tsunami ultimately must crash, and so will the Fed's inflation scheme.
Central banks, and especially the Federal Reserve System, continue to churn up inflation and the boom-and-bust cycles—in the name of "stabilizing" the economy.