1+ week, 3+ day ago   (181+ words) Established at the end of 1913, the Federal Reserve made Allied loans and wartime deficits possible by centralizing reserves and backstopping the banks. Rothbard traces the five-year campaign by Morgan, Rockefeller, and Kuhn, Loeb interests, then follows Benjamin Strong’s Morgan ties…...

1+ week, 3+ day ago   (177+ words) Rothbard’s opening thesis: commercial bankers, engaged in fractional reserve credit, always teeter toward bankruptcy and reach for bailout, while investment bankers underwrite government bonds and profit from deficits. He traces the first great American investment bank—Jay Cooke’s—to a…...

1+ week, 3+ day ago   (345+ words) The argument for AI solving inflation runs through productivity: better technology lowers costs, so prices fall. Dr. Mark Thornton of the Mises Institute takes that apart. Technology genuinely made computers and screens and phones cheaper, and it did nothing at…...

1+ week, 3+ day ago   (418+ words) As the US economy stumbles through rounds of inflation and self-inflicted crises, a look backward might be appropriate. To those that say we only should look to the future, the Federal Reserve’s history of the last two decades tells us…...

1+ week, 5+ day ago   (269+ words) Because banks were chartered by the states, the monetary fight was fought mainly in state legislatures, and Rothbard follows it across the Union. Proposals ranged from the modest—permitting failing banks to suspend specie payment while continuing to operate—to…...

1+ week, 6+ day ago   (83+ words) The Federal Reserve’s fixation with “stable prices” has led to an unstable economy for the past century. Original article: https://mises.org/mises-wire/fallacy-stable-prices The Fallacy of Stable Prices The Federal Reserve’s fixation with “stable prices” has led to an unstable economy for the…...

2+ week, 2+ day ago   (232+ words) On Thursday, November 12, Drs. Joseph Salerno and Patrick Newman will host a Member-only, online seminar focused on their new book, Murray N. Rothbard: The Making of an Austrian Economist. This book is a landmark contribution to the history of the Austrian…...

2+ week, 5+ day ago   (237+ words) "Governments defending prices against fundamentals always lose," Druckenmiller wrote. Bessent’s Former Mentor Druckenmiller Slams Treasury Bond Buyback Plan “Governments defending prices against fundamentals always lose,” Druckenmiller wrote. California is looking to impose a new wealth tax to fleece the state's…...

2+ week, 6+ day ago   (1028+ words) Apple builds and sells iPhones. I happen to own one of the older models, for the same reason I own a last-legs older model car. What if Apple could skip the build part and sell only the phone? The money…...