Bad Money – The Bane of Liberty and Prosperity (Part 1)

October 13, 2023

by David Stockman LewRockwell.com

Yes, the Alpha and Omega of almost everything that threatens the future of capitalist prosperity and constitutional liberty in America is the Federal Reserve. And its untoward impact goes back decades and decades, taking the form of multiple phases and transmutations as it made its way over the last 110 years to its current malefic incarnation.

To be sure, it didn’t start that way upon its legislative enactment on Christmas Eve 1913. The original statute as crafted by the great Congressman (and later Senator) Carter Glass actually omitted—and deliberately so —the two core features of today’s rogue central bank, which features underlie all our present-day troubles.