Many people mistakenly blame our current financial crises on fractional reserve lending. I believe this is an incorrect position. By definition, any lending institution is to some degree under-collateralized. This simply must be the case….
With all the recent talk about systemic inequalities it’s helpful to remember the words of Milton Friedman: “Inflation is taxation without legislation”. We’ve discussed a great deal in the past how inflation redistributes wealth to…
The Florin was a gold coin struck in Florence Italy from 1252 to 1533. Containing 0.1125 troy ounces of find gold, the metal content and design of the coin did not change during the near…
Did you get to see our live stream on the Unpopular Opinions show? The three stated goals of the Federal Reserve are: maximum sustainable employment stable prices moderate long term interest rates All three of…
The Bank Secrecy act of 1970 was implemented to mandate cooperation between financial institutions and the United States government to detect and/or prevent tax evasion and money laundering. This is more colloquially known as AML/KYC…
A lot of people are going to dislike this post. I’m okay with that. My economic thinking comes from first principles. If you have a rational thesis for why I am wrong, feel free to…
Proponents of expansionary monetary policy are always closest to the money spigot. It is essential to understand that creation of new money is not creation of new wealth. It is instead, changes in the denominator…
In 1935 FDR pushed through the Revenue Act of 1935. Affectionately called the “soak the rich” act, the bill’s stated intention was to redistribute wealth of America’s most wealthy. The bill imposed an income tax…
The rational thinker understands that in markets there is no such thing as a guaranteed return. Under a sound monetary system, where consumers benefit from price deflation brought about by technological deflation, the only returns…
So far we’ve covered a wide host of nationalization efforts brought about by the New Deal. But were you aware that the US Supreme Court actually overturned some of the New Deal Legislation’s as unconstitutional?…
