Why the Fed Should Abandon Its Latest Bad, Big-Government Idea

Like many institutions in government, the Federal Reserve has dramatically increased in size and scope since its inception. The Fed was originally established to be a lender of last resort, then expanded its charter to a “dual mandate” of maintaining dollar stability and minimizing unemployment through monetary policy, and currently has oversight over banks and other financial institutions. Now, the Federal Reserve is preparing another major expansion of its operations that has not received enough attention: the central bank wishes to create a payment system to compete against the private sector. Peter Ferrara summed up the issued in the American

“Postal Banking”: The Latest Terrible Idea from 2020 Democrats

Recently, Senator Bernie Sanders (I-Vt.) and Representative Alexandria Ocasio-Cortez (D-N.Y.) unveiled a proposal that would cap credit card interest rates at 15 percent. As you probably surmised, enacting a proposal like this into law would be the economic equivalent of bombing the U.S. credit market. Heck, I have a cash-back credit card in my wallet right now with an APR of 19 percent. It’s very possible you have a similar one too. If so, you may want to take note of which 2020 Democratic presidential candidates would quite literally ban it. In short, enacting price controls on credit card interest

Banks Are Creating Our Money — And It’s Not Working for the Rest of Us

This article was posted originally at the Epoch Times. The one force that causes the most harm in our economy also happens to be the least well-known and understood. While the left blames greedy corporations and individuals, and the right blames the government, it is in fact the collusion between the government and private banks that leads to problems like environmental degradation, unemployment, income inequality, and many more. In the United States and most other countries, the government grants private banks the right to create money out of nothing and forces individuals to accept said money as legal tender and to use