“The powers not delegated to the United States by the Constitution, nor prohibited by it to the States, are reserved to the States respectively, or to the people.”
“The evils of paper money have no end” That’s how Thomas Paine put it, but he was far from alone. The Founding Fathers were deeply worried about the dangers of paper money, because they lived them first hand. They repeatedly warned us about how it would give us price...
Thomas Jefferson’s chilling warnings about unchecked fiat, paper money proved prophetic as the U.S. plunged into its first boom-bust economic crisis in the early 19th century. In an 1814 letter to Thomas Cooper, Jefferson wrote, “Every thing predicted by the...
According to numbers released by the US government, consumer prices have increased by 7.5 percent in the past year, the steepest increase since 1982. The actual price increases are even worse than the government numbers suggest, given that the “official” statistics...
Sound money advocates are often hit with the charge of being “doom and gloomers.” Yes, we do warn that unsound monetary policies enable unsustainable fiscal commitments, which will lead eventually to a currency crisis. Sound money advocates are also often portrayed as...
by Rep. Ron Paul The Latin term “fiat” roughly translates to “there shall be”. When we refer to fiat money, we are referring to money that exists because the government declares it into existence. It is not based on production or earnings, and...