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Hello all. This is my first post at the Mises Forum. In the last few month I've taken interest in Austrian economics. I'm just about fininshed with Robert Murphy's Lessons for the Young Economists . I've read Murphy's Politically Incorrect Guide to the Great Depression and the New...
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I was looking for information regarding the Banking lobby in the United States. So far, I have only been able to find data regarding banking contributions to the 2 political parties, but I would really prefer to have more in depth information regarding this matter. I think that having such data would...
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I just finished reading most of “The Mystery of Banking” and “America’s Great Depression” and I just can’t seem to figure out this one thing about the Federal Funds Rate. I know that the Fed doesn’t just “set” the rate; rather it sets a target rate...
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Normal 0 false false false EN-AU X-NONE X-NONE MicrosoftInternetExplorer4 Can anyone provide a citation that supports the statement by Hans F. Semholz posted at http://mises.org/story/2414# that Friedman “calls for the issue of government money in the form of non-interest bearing obligations that...
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First of all, I would like to introduce myself. I am a computer programmer from the Netherlands. I am working on a theory of money and banking derived from the "Natural Economic Order" of Silvio Gesell. "Natural Economic Order" clearly states that the root the economic and monetary...
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Ron, You are quite right about both Rothschild's quote and your statement that Britain does not have a 100% reserve system. Private banks played an extremely important role in financing nations and issuing their currencies in the 19th Century, and the Rothschild's among others profited greatly...
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Central banks perform a number of functions; basically they act as the government's own bank, holding the government checking accounts and collecting tax receipts, facilitating the issuance of bonds, etc. They are also frequently given regulatory functions, such as the enforcement of fractional reserves...
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Point taken. However I'm not debating the form and makeup of a state, or indeed the virtues of anarchism! What I'm curious about is whether or not the core economic issue is the violent enforcement of a monopoly on currency ( by the state ). Fine, get rid of the FED - let the state control money...
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@ meambobbo Great post, just curious... So... perhaps what might be ideal is a completely open, free-market competition in actual currency? Gold, silver, paper money (backed 100% by X Y or Z) or e-gold, diamonds, vintage cheeses (joke!) or whatever the free-market innovates and finds most convenient...
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[quote user="donmc"] Also, the main reason that the fed lowers rates is to increase borrowing and thus increase spending/consumption (to "stimulate the economy" in news fedspeak). [/quote] Note that this is a smokescreen put up by John Maynard Keynes in 1935, well after the Fed was...