The History Of The Corruption Of Our Money
August 17th, 2021 • Unfortunately, banking and currency never enjoyed a free market in America. From the beginning, a bank needed to obtain permission from the government to operate, and to issue banknotes. State governments used this power to force banks to invest in their
What Trick Did Tricky Dicky Pull 50 Years Ago?
August 17th, 2021 • Sometimes, bad luck can strike. But other times, a catastrophe comes from a series of bad decisions, each the reaction to the consequences of the previous one. On August 15, 1971, President Nixon decreed that the US dollar would no longer be redeemable fo
Will the U.S. Currency Regime Fall?
August 16th, 2021 • Afghanistan has fallen. The U.S. government’s nearly two-decade-long, multi-trillion-dollar “nation building” effort in the troubled, tribal country may now have nothing to show for itself. Unsurprisingly, they didn’t see it coming. Central planne
Moving from Gold-Redeemable to Irredeemable Currency
August 3rd, 2021 • Observing that this paper has value in the market, Fed apologists (and critics alike) imbue it with an almost mystical power: it has value because the government says so (and because the government has nuclear bombs). Therefore, it will always have value
Political Hacks Concoct Excuses for Their Inflation
August 3rd, 2021 • Jerome Powell, after last week’s FOMC meeting, said inflation has run hotter than expected. However, he wants to assure Americans that the destruction of their dollars’ purchasing power is temporary. Powell’s diagnosis overlooks a couple other drive
How Henry VIII Debauched English Money to Feed His Lavish Lifestyle
July 28th, 2021 • Two of England's most famous kings—Henry I and Henry VIII—took very different approaches to money. Once there was a king who was only twelve inches tall. As the story goes, he was a lousy king but he made a great ruler.
The Bottom-Up Gold Standard
July 26th, 2021 • Fifty years ago, on the evening of August 15, 1971, President Richard Nixon addressed the American people to announce several measures to address a trinity of economic problems engulfing the United States: specifically, mounting unemployment, rising infla
Biden’s Dangerous Inflation Denials
July 22nd, 2021 • President Joe Biden is in denial about inflation. This week he superficially addressed the problem by admitting the obvious – that prices have been rising rapidly this year – while denying that the inflation surge represents anything out of the ordina
Why Australia’s Gold Rush Ushered in Political Freedom (as Well as Wealth)
July 21st, 2021 • Nineteenth century gold miners brought democracy and property rights to Australia, as well as riches. But the history was at times bloody.
Condo and Currency Collapse
July 7th, 2021 • On June 24, the Champlain Towers South condominium building fell, killing at least 24 people. The collapse of this building provides a surprising number of insights into the collapse of a currency.
Share This!