The Federal Reserve: “A God That Has Failed”

Why does Wall Street keep recovering after recessions but the economy seemingly never does? The reason, as I document in my book, “The Scandal of Money: Why Wall Street Recovers but the Economy Never Does” is that Washington and the Federal Reserve

The Government Can’t Print Its Way to Economic Growth

Trump baffles conservative elites: how with such a talented field of candidates we could we end up with an isolationist, big-government, trade-war nominee? But give the American people this much credit: they understand the economic game has been rigged: that while the

“The Scandal of Money” Interview

My book, The Scandal of Money: Why Wall Street Recovers But the Economy Never Does, launches today: The Fed creates money for the government and for the Fortune 500 corporations and nobody else gets it. . . this has starved Main Street

The Real Myth Lies With Gold Standard Critics

The real deep myth at the heart of criticism of the gold standard is that it’s value stems from its use as a commodity. The fact is that gold is valuable because its scarcity is founded in the scarcity of time (the time to extract

Cruz Is Right About Gold

Ted Cruz grasped the nettle in the debate and explicitly upheld gold as the “ideal” monetary foundation. Perhaps he understands the scandal of money: that gold currency is now effectively illegal in the U.S.; that the murky $5.3 trillion a day churning of currencies now muddles

Fiorina Triumphs While Bush Makes the Case for Growth

Hey, don’t tell anyone, but Carly Fiorina is my new heart throb, breaking through the maginot lines of poll-driven mediocrity, where candidates carefully tell the audience what they already think, and establishing a new standard of leadership for the Republican tribe. From

Greece and Gold

Megan McArdle, a smart journalist, is dead wrong in arguing that the moral of the Greek story is bad for gold.  The reason for Greece’s troubles is the failure of the global fiat money regime that McArdle supports as the remedy. With nearly

Ramesh is Wrong

My short book presents a new information theory of money. Only in passing did I cite Ramesh Ponnuru and National Review as influential representatives of a monetarist faith curiously shared with Paul Krugman and most Democrats. With colleague David Beckwith, Ponnuru is a