BankNotes – December 2014

There is a reason for our mess. We are now reaping the bitter harvest of the poisonous seed sowed intermittently during the past. We are experiencing bad effects whose causation can be traced to the employment of wrong means. We suffer the natural consequences of our folly, which proves once again that the universe is rational. To state this in another way, if improper methods did not lead to failures, we would really have a problem.

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BankNotes – November 2014

Very few Americans have paid enough close attention to the particulars of a law that began to be formulated shortly after the financial crisis of 2008 and was ratified January 21, 2010. This lack of awareness on the part of the public is certainly understandable. First of all, you don’t see much of it in the news and, secondly, who would want to take the time to read it or struggle trying to understand it?

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BankNotes – October 2014

It should be evident to most people that the last 100 years have been very violent in the financial world. Why? What happened to cause all this turbulence? During this period we have witnessed the bloodiest century of all time. Two World Wars. Endless smaller wars all over the earth. An influenza epidemic after WWI.

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BankNotes – September 2014

Today, capitalism is blamed for our current disastrous economic and financial situation and a history of incessant booms and busts. Support for capitalism is eroding worldwide. In a recent global poll, 25 percent (up 2 percent from 2009) of respondents viewed free enterprise as “fatally flawed and needs to be replaced.” The number of Spaniards who hold this view increased from 29 percent in 2009 to 42 percent, the highest amongst those polled.

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BankNotes – July 2014

The production of money in a free society is a matter of free association. Everybody from the miners to the owners of the mines, to the minters, and up to the customers who buy the minted coins — all benefit from the production of money. None of them violates the property rights of anybody else, because everybody is free to enter the mining and minting business, and nobody is obliged to buy the product.

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BankNotes – June 2014

How Inflation Drinks Your Milkshake And why it is, as Mises called it, “the most radical revolutionary institution in the world.”
In the denouement of the film There Will Be Blood, the antihero Daniel Planview dramatically reveals to his nemesis that he has secretly siphoned away all of the latter’s underground oil.

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BankNotes – May 2014

The least of the problems with income tax is that it takes your money. The really big problem is that the income tax takes your life. It gives the government direct access to the things you own and sets up the political-bureaucratic sector to be the final arbiter of what you can and cannot consider to be yours.

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BankNotes – April 2014

This article is adapted from Joseph Salerno’s foreword to the new third edition of Brendan Brown’s book Euro Crash: How Asset Price Inflation Destroys the Wealth of Nations.] Brendan Brown is a rara avis — a practicing financial economist and shrewd observer of financial markets, players, and policies, whose prolific writings are informed by profound theoretical insight.

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