Liberty Maven

Today’s article at the Ludwig von Mises Institute, written by Lew Rockwell, discusses the current economic woes, and why we need a sound currency now more than ever.

For believers in liberty and sound economics, it has been a series of devastating weeks. The crisis of fiat money, long foretold by the Austrian school, finally came. But there turns out to be no great satisfaction in saying “I told you so.”

If it would do any good, it would be worth it. But Treasury officials and central bankers are proceeding as if they had nothing to do with actually causing the bubble and the bursting of the bubble — acting, in fact, as if the old tale about the need to support prices to fix the recession were true. It is the perfect storm: the big banks loot us through government, while the academic economists approve it as applied science.

Continue reading at Mises.org…