Everyone thinks the Fed will cut rates next month in response to better inflation data and higher unemployment. The market also thought there would be six rate cuts in 2024
This article covers Austrian money theory, core Austrian economics beliefs, contributions of key figures, and six key lessons from the Austrian School.
The release of better-than-expected jobs data after the number of Americans filing new claims for unemployment benefits was lower than forecasted. Both gold and silver are trading flat.
The stated policy is to devalue the currency by 2 percent every year. That means you lose 10 percent of your purchasing power every five years and 20 percent each decade.
The revaluation of government gold reserves to create money isn't a new mechanism. It's a mechanism whose last exercise in the United States is so old that few people are aware of it.
Inflation just gave the Fed what it needs to see to believe it can still touch down with a perfect soft landing by cutting interest rates a notch in September.
In 2024 so far, Uncle Sam paid over $956.3 billion in interest, over 23% of taxes collected. The only spending category bigger than interest on the debt is Social Security.
