When the Data Is Bad, Just Lie

When the Data Is Bad, Just Lie

Bad jobs numbers? Just say they’re good. High inflation? Just claim it’s low. While the old adage “numbers don’t lie” may have a ring of truth, in reality, people lie a lot, and governments lie constantly—and they’re releasing the data that all the big decisions are...

The Day the Dollar Lost Its Gold: The Nixon Shock

President Richard Nixon announcing the end of Dollar convertibility On August 15th, 1971, U.S. President Richard Nixon ended the dollar’s convertibility to gold, bringing an abrupt end to the last vestige of the international gold standard. Why? And what led up to...
Fed Report Reignites Talk of Gold Price Reset

Fed Report Reignites Talk of Gold Price Reset

Remember the gold price reset talk from earlier this year? It’s back. In February, U.S. Treasury Secretary Scott Bessent said, “We’re going to monetize the asset side of the U.S. balance sheet,” which triggered a wave of speculation about what valuing gold at the...
From Barter to Fiat: Unanswered Questions for Chartalism

From Barter to Fiat: Unanswered Questions for Chartalism

Opponents of sound money rely on harebrained explanations of the origin of money. Perhaps chief among them is the Chartalist school of thought, which struggles even to adequately explain what the “first day of money” would look like in its framework. The following...