Monetary Theory

Only Father Time helps us cut through the policy nonsense and understand interest rates conceptually.

At a time when inflation once again ravages the dollar, we recall Murray Rothbard's wisdom in his article "The Case for a Genuine Gold Dollar."

At a time when inflation once again ravages the dollar, we recall Murray Rothbard's wisdom in his article "The Case for a Genuine Gold Dollar."

The Gold Standard Restoration Act seeks to once again tie the US dollar to gold.

The Gold Standard Restoration Act seeks to once again tie the US dollar to gold.

At a time when inflation once again ravages the dollar, we recall Murray Rothbard's wisdom in his article "The Case for a Genuine Gold Dollar."

The Gold Standard Restoration Act seeks to once again tie the US dollar to gold.

Former Fed chairman Ben Bernanke and two other economists have received the Nobel in economics this year. Their work on banking is weak on causality and fails to recognize the damage done by the central bank.

The current bout of inflation is the latest disaster in a string of disasters caused by government debasement of once sound money.

Anyone who has taken a Keynesian-based macroeconomics course remembers the equation of exchange: MV = PY. This equation, however, is buried in fallacious economic thinking.