This article appeared as a full-page ad in the Wall Street Journal. We’ll know progress is being made if it ever appears on the Wall Street Journal editorial page. From Mises Wire at mises.org:
This article appeared as a full-page ad in the Wall Street Journal on June 24, 2024, and was made possible by one of our generous donors:
Perhaps nothing in financial news receives more attention than an announcement from the Federal Reserve. About eight times per year, the Federal Reserve’s Federal Open Market Committee meets to formally decide and announce its plans for monetary policy. Every announcement has the potential to cause a rally, or a rout, in financial markets.
It makes sense that a mere announcement from the Fed has the power to move markets in a big way. The Fed wields vast power over interest rates, bank regulation, and the money supply. When it comes to policies that affect the everyday lives of nearly every American—and even countless people outside the United States—it is likely that no government institution is more powerful than America’s central bank, the Federal Reserve.
Yet this institution works largely in secret, has never been audited by Congress, and is virtually never challenged by anyone in Washington or in the legacy media. In this era of eroding public trust in Congress, the presidency, the media, and even the military, it’s quite remarkable that the Federal Reserve faces so little scrutiny.
The US dollar has lost over 96% of its value since 1913, when the Federal Reserve took over the dollar.
The Fed devalues the dollar by printing more dollars without creating any value.
Nixon ended the gold standard in 1971, skyrocketing inflation.
(H/T-BBW)
Breaking from B-Legit & Daryl Hall:
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