August 15, 1971: Gold Is Not the Backing for a Currency
August 15, 1971, is a historic date, because for the first time in the world, a currency—the U.S. dollar—was no longer defined in terms…
The federal government’s net debt stands at 82.95% of U.S. GDP as of July 12, 2026
The actual net debt of the U.S. federal government is neither abnormal nor out of control. It is the subject of public opinion manipulation by…
Monetarism: Toward a Copernican Revolution?
Abstract Monetarists and nearly all economists agree that an increase in a nation’s money supply causes inflation, which stimulates GDP growth, and that, conversely, a…
U.S.: Monetary Hypertrophy, M3 Money Supply, and GDP Growth, as of July 6, 2026
Abstract An hypertrophy of the M3 money supply has been occurring in the United States since the early 2000s, as clearly shown by the graph…
U.S.: M2 Money Supply and GDP Growth, as of June 29, 2026
The accelerated growth of the M2 money supply during April and May will contribute to an increase in the U.S.’s overall M3 money supply, which…
USA: Monetary Hypertrophy, M3 Money Supply, and GDP Growth, as of June 20, 2026
Abstract A hypertrophy of the M3 money supply has been occurring in the United States since the early 2000s, as clearly shown by the graph…