The New Deal and Recovery, Part 5: The Banking Crisis
To understand how the world's largest economy ended up shutting-down its entire banking system, one must first be aware of a long-standing defect of that system and of how it led, first to the...
View ArticleThe New Deal and Recovery, Part 6: The National Bank Holiday
During the opening days of March, 1933, the U.S. economy resembled a stricken body slowly bleeding out, its organs failing one by one. The Federal Reserve System was hemorrhaging gold, and entire state...
View ArticleThe New Deal and Recovery, Part 7: FDR and Gold
The causes of the gold inflow that fueled the post-1933 recovery, and especially the part played by FDR's decision to devalue the dollar.
View ArticleThe New Deal and Recovery, Part 8: The NRA
The 1933-37 recovery fell far short of reversing the collapse the U.S. economy suffered between 1929 and 1933, and that this disappointing outcome was the result of New Deal policies aimed at boosting...
View ArticleJacob Goldstein’s “Planet Money”: Snarky, Inaccurate, and Oddly Incomplete
Every step of the way, Goldstein’s account is mistaken.
View ArticleThe Economics, Politics and Morality of Fiat Money: An Interview with...
Professor Niles discusses the economic, political and moral aspects of the U.S. dollar, inflation, gold standard, fiat, money and legal tender laws.
View ArticleCurrency Competition May Save the Economy or Even Much More
It should never be illegal to do honest business in America, even if that means a transaction isn’t denominated in U.S. dollars.
View ArticleInflation Is a Dangerous Way to Get Rid of Debt Burdens
Inflation is a form of tax, under which portions of the citizenry’s income and wealth is taken from them through reducing the real buying power of money held by all those in the private sector and the...
View ArticleEstablishment of Gold as Money (Part 6 of 10)
The establishment of gold as money is essential to the achievement of a capitalist society.
View ArticleA Tragic Half Century Without Gold Money
The gold standard wasn’t suspended because it caused the Great Depression or bank failures, nor did it disappear in 1971 because it “didn’t work.” It’s been gone because fiscal alchemists couldn’t...
View ArticleThe Bitcoin Law: El Salvador’s Counterfeit Free Choice in Currency
Bitcoin adoption should be a free choice - neither banned nor compelled by law.
View ArticleIn Defense of Bank Deposits: An Open Letter to Professor Omarova
"Although commercial bankers often err in deciding who to lend to, I believe they are far less likely to do so than a body of government-appointed bureaucrats." - George Selgin
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