Economists like to claim that expectations of more inflation lead to, well, more inflation. Such beliefs ignore the fact that inflation is an increase in the money supply and that general price increases result from fractional reserve-created monetary expansion.
Warren Buffett is well-known for his investment acumen, and he often makes public statements in favor of capitalism. But his loyalty to the fiat monetary system undermines everything else that he claims to represent.
While Ben Bernanke has accused free market and sound money advocates of pursuing “discredited” systems, he and his lieutenants were following a truly discredited way of thinking: socialism. The man who supposedly “saved the world” actually destabilized it.
Some economists fear that excessive government debt will lead to an economic crisis and recession. However, the real threat to the economy is Federal Reserve-supported fractional reserve lending that helps to set off an unsustainable boom.
Austrian economists agree that ending the Federal Reserve System would be a major step forward in reclaiming sanity in government spending and bolstering the US economy. Here is one plan to make ending the Fed a reality.
Charles Rist was an economist of nearly a century ago who recognized the dangers behind President Franklin Roosevelt‘s attempts to demonetize gold. We are still paying the price for FDR‘s actions.
Abraham Lincoln is best known for his role as a wartime president, but his economic policies were a precursor to the New Deal. From railroad subsidies to a national banking system, Lincoln paved the way to the Progressive Era and beyond.
As Elon Musk and his crew scour the federal government to see what needs to be culled from the herd, there is an obvious agency that cries out for elimination: the Federal Reserve System.
Does the US government need a gold reserve? No, it doesn't. The government's gold is basically an emergency slush fund for elites to use to preserve their political power.
The fallout of FDR‘s gold adventures was far worse than reneging on US gold bond redemption. FDR declared that the price of gold would henceforth be increased to $35 per ounce from $20.67 per ounce, which immediately devalued the US dollar.
