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See Rothbard's What Has Government Done to Our Money . When a regular person buys a government bond, that person is spending money they had to have somehow received beforehand from someone else. That is, it must have been money that was already in circulation. When the Federal Reserve buys government...
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The part that you’re missing is the technical aspect of how the Federal Reserve creates money. This is understandable because critics often use the metaphor that the Fed is “printing’ money or “creating money out of thin air.” What actually happens is that the domestic trading desk at the New York Federal...
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Currency, by definition, is never "hard;" people keep the hard money and spend the least hard. However, the problem is easy if there is a federal system: the central government is mandated to coin both gold and silver coins, the several States adopt one or the other. If someone finds a reef...