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Today is the first presentation in our new online conference “End Inflation and the Fed.” I hope you will join us for what will be a great talk on one of the burning issues of our time — the destruction of our money by the Federal Reserve, as manifested by rising prices of gasoline, food, cars, and just about everything else.
****7 p.m. Eastern Time. FREE. Register here ([link removed]) .****
Our first speaker will be Richard Ebeling, my co-host on FFF’s weekly Internet show The Libertarian Angle. Richard is one of the most knowledgeable and best speakers in the libertarian movement. He is the BB&T Distinguished Professor of Ethics and Free Enterprise Leadership at The Citadel. Before that he served as president of The Foundation for Economic Education (FEE) and the Ludwig von Mises Professor of Economics at Hillsdale College.
Richard is the author of FFF’s great book Monetary Central Planning and the State ([link removed]) . As a longtime leading figure in the field of Austrian economics, he is the perfect person to kick off our conference.
Why is this conference so important?
All too many people have no idea that it is the Federal Reserve that is the cause of the inflation problem. They think that rising prices are simply a result of supply and demand of goods and services. Not realizing that the Federal Reserve is the cause of inflation, they honestly believe that a central bank is necessary to fight inflation.
What they don’t understand is that the laws of supply and demand work for money as well. The Federal Reserve controls the supply of money. When it increases the supply, the price of money goes up or, to state it more clearly, the value of the money goes down.
How is that decrease in value reflected? In the only way it can be reflected — by rising prices of the things that money buys.
For decades, the Federal Reserve has been destroying our money, slowly but surely. That’s why $20 St. Gauden’s Double Eagle gold coins, silver dollars, silver quarters, and silver dimes, which used to be the official money of our nation, no longer circulate as money. Over the years and decades, the Fed inflated the money supply so much that it ended up driving sound money out of circulation. That’s how we have ended up with nothing but fiat (i.e., paper) money and cheap alloyed coins.
Today, the Fed is throwing the economy into another recession by raising interest rates with the aim of now limiting its inflation of the money supply, ensuring that the boom-bust cycle that comes with monetary manipulation will continue to besiege America.
Is there a way out of this monetary morass? Can we restore sound money to our nation before the U.S. government destroys it entirely?
You bet there is! And you bet we can! That’s the aim of this important conference — to analyze where we are today as a nation in terms of our money, how we got here, what we need to do to restore sound money to our land, and why sound money is essential to a free and prosperous society.
I hope you’ll join us tonight and every Monday night for the next couple of months for great presentations and lively discussion on this critically important issue of our time.
****7 p.m. Eastern Time. FREE. Register here ([link removed]) .****
Yours for Liberty,
Jacob G. Hornberger
President
The Future of Freedom Foundation
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