The Worst Market Intervention of All Time

[WantDisclosure]

From the Mises Institute:

03/03/2025 • Mises Wire • George Ford Smith

My choice for the worst market intervention of all time is The Federal Reserve Act of 1913, including all amendments since then and in particular the changes made in 1917 to help pay for US entry into World War I, one of the most catastrophic and groundless decisions in world history. The Fed is even worse than the income tax, which made its appearance in the same year with the corrupt ratification of the Sixteenth Amendment. Unlike the income tax, the Fed’s thievery is invisible to a majority of dollar holders—their money dies gradually like the light from a setting sun. Add to this the Fed’s deception as it poses as a steadfast fighter of inflation while, over the decades, having switched the definition of “inflation” to mean rising prices rather than deliberate increases in the money supply, thereby deflecting guilt to the bogeymen of the moment. . .

https://mises.org/mises-wire/worst-m...ntion-all-time

[Emil El Zapato]

From the Mises Institute:

Ever heard that meme: "It's the people's choice". In the soft science of sociology, a well seasoned notion is that the little people impose their restrictions on themselves. There is no discernible reason to believe that anything has changed.