#19 Fiat is Unconstitutional Part 2
As we discussed yesterday in Issue #18 Bills of credit issued by the people can only hope to circulate as a monetary medium based on the markets faith in their value. This is quite different…
#18 Fiat is Unconstitutional
United States Constitution, Article I section 8 & 10: “Congress shall have the power to borrow money, to coin money, regulate the value thereof, and of foreign coin, and fix the standard of weights and…
#17 Productive Use of Capital
As we discussed in Issue #16, hoarding (saving) is a productive use of capital. Today we will cover how the Keynesians conflate saving with that of “unproductive capital”. Let’s start off with an illustration. You…
#16 Hoarding is NOT Dangerous
If you recall, in the past we spoke about a different kind of hoarding, more specifically the hoarding of money like assets. We covered how this is dangerous and unproductive for society. Now it is…
#15 The Real Cost of Debt
Some economists have claimed that transitioning away from the Gold Standard under Bretton woods has had no impact on the growth of debt in the current economy. But is this really true? This claim should…
#14 Remember When Owning Gold Was Illegal? (New Deal)
I plan on eventually doing full coverage of the many nefarious undertakings in New Deal era policy making, but let’s start it off with an old favorite. Executive Order 6102 was signed on April 5,…
#13 Minimum Wage Does Maximum Damage
Progressive political pundits will often push for mandatory higher “living wages”, which tends to be a very popular political strategy… And certainly, why wouldn’t it be popular? After all, what man doesn’t seek to improve…
#12 The Essentials of Private Property
Private property seems to be a subject of growing contention in today’s political climate. The clamorous demand for socialism grows louder as wealth inequality becomes increasingly stratified between the have’s and the have not’s. It…
#11 Hoarding is Dangerous
Keynesians conflate saving with hoarding. “We must have inflation”, they proclaim, “without it, the economy would grind to a halt as every man turns into a greedy hoarder of his money”. But these Keynesians fail…
#10 The Cantillon Effect
Richard Cantillon was an Irish French Economist born in the late 1600s. It is to him we owe our coining of the modern aphorism “The Cantillon Effect” used to explain the disproportionate nature by which…