One of the arrogances of “Western” nations is that our way of life and our liberties are protected by periodic elections as required by constitutions, written (America) or not (Great Britain), containing bills of rights, [more…]
In a few days the British Conservative Party will select a new prime minister from within its ranks. The new PM will have a short-lived opportunity to select new ministers. But more importantly, due to [more…]
Following is a plea to Germany–The war is over and has been for three-quarters of a century. It’s time to stop prostrating yourself for the supposed “good” of Europe. It’s time to take complete control [more…]
The World War II project to build an atomic bomb is seen by many as a template for government action to solve what appear to be national economic problems beyond the scope of private enterprise. [more…]
A recent essay on Mises Wire triggered quite a bit of discussion among a group of Austrian school economists. Paul H. Kupiec and Alex J. Pollock’s Who Owns Federal Reserve Losses and How Will They [more…]
In his recent essay for Goldmoney.com, titled Building a Better Banking System, Alasdair Macleod agrees with the Austrian view that sound money would help prevent a looming “combined currency, asset, and banking crisis”, yet challenges [more…]
Well, currency debasement is pretty bad, as a few key statistics will reveal, but first some background. At the Bretton Woods Conference in 1944 the US agreed that it would redeem dollars for gold at [more…]
What almost everyone calls “inflation” is really a rise in the general price level. OK. But the real definition of “inflation” is inflation of the money supply. A rise in the general price level is [more…]
Mention the term “legal tender” in polite company and most people will resemble a deer in the headlights. In simple terms legal tender laws grant monopoly status to money, usually fiat, produced by government; i.e., [more…]
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