A Dark Side of Inflation
When the Federal Reserve inflates the money supply, the resulting debasement of people’s money is reflected in the higher prices that people are paying for things they need or want. Already, everyone is seeing, for example, significantly higher prices for gasoline at...
Why a Standing Army and a Welfare State?
One of the major distinguishing characteristics, philosophically speaking, between our American ancestors and today’s Americans is with respect to the national-security establishment. Our ancestors fiercely opposed that type of governmental structure. Today’s...
Why Is Paper Money Constitutional?
The official money of the United States today is paper currency. But that’s clearly not what the Constitution says. It says that gold and silver coins shall be the nation’s currency. How is that possible? I thought the Constitution was supposed to be the highest law...