Central Bank Lies & Consequences
By Philippe Gastonne     
Fractional reserve banking is intrinsically dishonest. Bankers promise depositors instant access to their money, even as they lend that same money to unrelated persons. The depositor agreement is a contract the bank knows it cannot possibly fulfill. This pyramid-scheme business model would be unsustainable without the backstop of a central bank as "lender of last resort." Bank runs are (theoretically) impossible if the central bank does its job. The European Central Bank is failing one of its ...
F.A. Hayek and Why Government Can't Manage Society, Part II
Editorial by Richard Ebeling     
It is seventy years, now, since near the end of the Second World War Austrian economist, and much later Nobel Prize winner, Friedrich A. ...
They Must Be Controlled
Staff News & Analysis     
In a 1968 Star Trek episode titled "The Gamesters of Triskelion," disembodied aliens abduct Captain Kirk and two of his crew for their ...