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The Fed has owned no gold since 1934, when the Fed handed over all its gold in exchange for gold certificates.
As the Federal Reserve manipulates the money supply and interest rates, the yield curve becomes a less reliable indicator of economic activity. The more the Fed plays havoc with the system, the more we see the boom-and-bust syndrome.
The current trend in money-supply growth is a big turnaround from the many months of depression-level contractions we saw in 2022 and 2023.
Published in July 1974, Murray Rothbard provides elite theory analysis of Watergate after the selection of Nelson Rockefeller as Gerald Ford's Vice President.
Neal McCluskey There has been a revolution in school choice over the past few years. After decades of slowly creating programs focused on students from low-income families, with disabilities, or assigned to public schools with poor academic outcomes, we have seen an explosion of “universal” programs
Gene Healy I am reliably informed that the Republican Party’s 2024 vice-presidential nominee, Ohio senator JD Vance, is not a libertarian. Given the standard set by Mike Pence, Paul Ryan, Sarah Palin, and er, Dick Cheney, I was braced for this news and have so far
Jeffrey Miron The United States recently arrested two Mexican drug kingpins. Will this reduce violence or generate other beneficial effects? According to a recent Cato Research Brief, just the opposite: Our findings suggest that [kingpin] Don Berna’s extradition caused an average of 1.2 more homicides within 250 meters
The Lessons for the Young Economist video series is the antidote to public school economics education.