Those dollar bills in your pocket came from bank deposits, created out of thin air.
Money & Banking
Money From Nothing
How does money come into existence today?
Top 1% of U.S. Earners Hold an Unprecedented Portion of the Wealth
There’s nothing unfair about wealth disparity in a free market, but the economic divide caused by QE is a gross injustice.
Voice of Capitalism
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Unmasking Inflation, Part 2
Is consumer price inflation transitory or persistent?
Is a Society without Money Possible or Desirable?
Those who advocate a world without money advocate an impossible fantasy where nobody would be incentivized to work and rights would be violated as a matter of course.
Unmasking Inflation
The Fed’s fixation on consumer prices disguises the real inflation rate.
False Profits
Record profits are not the sign of a resilient economy but an inflationary effect of reckless money creation
The Zombie Ship of Theseus: Bitcoin vs Gold
The current fiat monetary system is a zombified version of the original and Bitcoin is no answer to the perversion of a gold sound money system.
The Impact of Higher Inflation on US Asset Class Returns
Central banking “independence” from politics (fiscal profligacy) seems to be a thing of the past.
Can the Supply Chain Explain the Rise of Inflation?
It is more convenient for the government to argue that inflation is due to supply-chain shocks or scapegoats (such as evil corporations) than admitting it is of their own doing.
In Defense of Bank Deposits: An Open Letter to Professor Omarova
“Although commercial bankers often err in deciding who to lend to, I believe they are far less likely to do so than a body of government-appointed bureaucrats.” – George Selgin
A Tragic Half Century Without Gold Money
The gold standard wasn’t suspended because it caused the Great Depression or bank failures, nor did it disappear in 1971 because it “didn’t work.” It’s been gone because fiscal alchemists couldn’t expand the gold supply as they expanded government.
Establishment of Gold as Money (Part 6 of 10)
The establishment of gold as money is essential to the achievement of a capitalist society.
The Bitcoin Law: El Salvador’s Counterfeit Free Choice in Currency
Bitcoin adoption should be a free choice – neither banned nor compelled by law.
Inflation Is a Dangerous Way to Get Rid of Debt Burdens
Inflation is a form of tax, under which portions of the citizenry’s income and wealth is taken from them through reducing the real buying power of money held by all those in the private sector and the general public.
Currency Competition May Save the Economy or Even Much More
It should never be illegal to do honest business in America, even if that means a transaction isn’t denominated in U.S. dollars.
The Economics, Politics and Morality of Fiat Money: An Interview with Pro-Capitalist Economist Raymond Niles
Professor Niles discusses the economic, political and moral aspects of the U.S. dollar, inflation, gold standard, fiat, money and legal tender laws.
Jacob Goldstein’s “Planet Money”: Snarky, Inaccurate, and Oddly Incomplete
Every step of the way, Goldstein’s account is mistaken.
The New Deal and Recovery, Part 8: The NRA
The 1933-37 recovery fell far short of reversing the collapse the U.S. economy suffered between 1929 and 1933, and that this disappointing outcome was the result of New Deal policies aimed at boosting wage rates. The resulting higher wage rates prevented the revival of spending from sponsoring a corresponding revival of employment.
The New Deal and Recovery, Part 7: FDR and Gold
The causes of the gold inflow that fueled the post-1933 recovery, and especially the part played by FDR’s decision to devalue the dollar.
The New Deal and Recovery, Part 6: The National Bank Holiday
During the opening days of March, 1933, the U.S. economy resembled a stricken body slowly bleeding out, its organs failing one by one. The Federal Reserve System was hemorrhaging gold, and entire state banking systems were shutting down one after another. I
The New Deal and Recovery, Part 5: The Banking Crisis
To understand how the world’s largest economy ended up shutting-down its entire banking system, one must first be aware of a long-standing defect of that system and of how it led, first to the proliferation of small and under-diversified banks, and then to as many bank failures.
The New Deal and Recovery, Part 4: FDR’s Fed
If ever an administration had control over Fed policy, and monetary policy more generally, FDR’s was it. It follows that, if monetary policy did less than it should have to end the Great Depression, the Roosevelt administration must bear a good share of the blame.
The New Deal and Recovery, Part 3: The Fiscal Stimulus Myth
Although almost everyone assumes that fiscal stimulus played a big part in bringing the Great Depression to an end, the truth is that its contribution was insignificant.