monetary policy


1.) Reagan economist Arthur Laffer corrects the record on who deserves credit for our economic boom. Last week, I explained why Barack Obama does not deserve credit for Trump’s economic boom. To the contrary, the economic growth President Trump has achieved comes in spite of Obama, as many of the previous administration’s economic policies remain […]


This week, a fantastic editorial appeared in the Wall Street Journal that has sparked a very important conversation. In the article, the paper’s editorial board encourages President Trump to use monetary reform to address Chinese currency devaluation. The WSJ wrote: Mr. Trump’s trade policies are also becoming a currency problem. Faced with the threat of U.S. […]


This week, Congressman Alexander Mooney (R-W.Va.) put the classical gold standard back into congressional purview with his introduction of H.R. 5404 and his excellent Wall Street Journal op-ed, “Steel and Aluminum? Let’s Talk About Gold.” The op-ed served to introduce the bill to the wider world. Adopting it would make the dollar legally convertible to […]


The Trump giveth and the Trump taketh? During a private meeting with lawmakers last week, President Trump signaled that he would be open to a 25 cent per gallon increase to the federal gas tax.  If your car has a 16 gallon gas tank (as many do), this would cost you an extra four dollars every time […]


Yesterday, the Dow Jones Industrial Average suffered its largest single-day point decline in history after tumbling 1,175 points. Compounding concerns, this sell-off occurred immediately after another large sell-off the previous trading day (Friday) where the Dow shed 666 points. Although the forces behind these changes are, of course, complex, here are the cliff notes on […]


Last week, the Commerce Department released a preliminary estimate showing the U.S. economy grew at 2.6 percent in the fourth quarter of 2017. This 2.6 percent expansion came as somewhat of a disappointment to economists, who anticipated a “hat trick” of 3 consecutive quarters of 3-plus percent growth, as well as to the New York […]


In the final days of 2017, Bitcoin captured the attention of global markets when the price of a single digital coin surged to a record-high price around $20,000. While the price of Bitcoin has since pulled back (to around $14,600 today), there is one market indicator that suggests digital assets will remain bullish in 2018 […]


Last week, the Commerce Department announced the U.S. economy grew at 3 percent for the second quarter in a row! If this initial estimate holds up, our economy will compete for its third straight quarter of 3-plus percent growth which, if achieved, would be the first time we landed this economic “hat-trick” since before the […]


Yesterday, President Trump announced the United States will significantly increase its military presence in Afghanistan, with some estimating an additional 4,000 troops could be joining the 8,400 already on the ground. Without even a conversational understanding of the current status of the war or our policy objectives, I do not wish to criticize the consensus […]


Why Does Bitcoin Have Value?

by Valentin Schmid

This article was posted originally at the Epoch Times. Up 158 percent against the U.S. dollar this year, bitcoin is now the best-performing currency. Many are confused as to how this mathematical protocol can be worth more than $2,600, and why it keeps going up. The short answer: Bitcoin is money, just a little better and […]


Last week, Jeff Bezos sent Keynesian economists into a frenzy with the announcement that Amazon.com would be purchasing the Whole Foods grocery chain. So why were the Keynesians in despair? Because Jeff Bezos is going to lower your grocery prices. You read that right. Take this coverage from Bloomberg: When online retail giant Amazon.com Inc. […]


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 […]


Last week, President Trump released a budget plan that was widely praised by conservatives for reining in future spending. However, buried near the back of the budget (page 51) is one item in need of further attention — the Trump administration’s interest rate projections. Under Trump’s budget, interest rates on 10-year bonds are projected to […]


Arizona just became the second state, after Utah, to remove state income tax from gold and silver coins. Ron Paul, for one, is cheering: Every supporter of free markets should cheer Arizona’s passage of HB 2014. There is no more justification for forcing individuals to use government created money than there is for forcing them […]


This article was originally posted at the Epoch Times. If you visit the Federal Reserve’s Facebook page, you will seldom find a positive comment. That’s because people who don’t care about central banking won’t go to the Fed’s Facebook page. That leaves only the ones who are positive about it—if they exist—and the ones who don’t […]


Recently, Politico reported that former Treasury undersecretary Randy Quarles will likely be nominated as the Federal Reserve’s top bank regulator. Since a potential Quarles appointment is viewed by some as a continuation of “business as usual” at the Fed, it’s prudent to revisit the Fed’s recent ineptitude that has shrunk its credibility. This Friday, the […]


With President Trump’s 100th day in office fast approaching, his administration has already delivered on some of his key economic promises, including slashing regulations, instituting a federal hiring freeze, and approving the Keystone XL pipeline. And now that the President is thoughtfully considering the impact of our monetary policy, he is also one step closer […]


In my most recent column in Forbes.com, I said the infighting in the West Wing was an inevitable outcome of the long economic stagnation that President Trump inherited. The solution does not reside in the President’s firing, demoting, or reorganizing his team or in having the feuding team members “work this out.” It lies in […]


Lazy economic pundits argue that a return to the gold standard is impossible because “there is not enough gold.” Fortunately for those who want wages as good as gold, this line of attack is completely Fake News. Incurious economic reporters believe the following: since gold is a finite resource, if we make the dollar convertible […]


Former Fed Chair Alan Greenspan praises the gold standard in the February 2017 issue of The World Gold Council’s Gold Investor. Therein he makes what may be his strongest statements to date in praise of the gold standard. Here are some of the highlights. Toward the end of this interview he offers a Big Reveal: […]