Our inflationary scheme in the U.S.A. is a brilliant legerdemain: it is so complex that hardly anyone can understand it! We monetize debt; that is, the more the government spends, the more is the money supply expanded. Since the start of deficit financing and monetized debt, our quantity of dollars has enormously increased. Anyone with an eye to trends can observe that the dollar has declined in value and that prices are on the upswing.
—Leonard E. Read
HORNBERGER'S BLOG
November 28, 2022
The Bank-Run Phenomenon
One of the most fascinating phenomena in financial crises is that of bank runs. That’s when panicked depositors rush to their bank to withdraw their money because they’re convinced that the bank is going broke. Everyone tries to withdraw his money before that happens. If the bank does finally go under, the people who failed to withdraw their money are left with a ...
The First Thanksgiving and the Welfare State
by Jacob G. Hornberger and Richard M. Ebeling
What relationship does the original Thanksgiving have to where we are as a nation today? Join FFF ...
Death Penalty for Drug-War Violators?
by Jacob G. Hornberger and Richard M. Ebeling
Should America adopt former President Donald Trump's idea of giving the death penalty to drug war violators? ...
