Both economists and laypeople carelessly refer to interest rates as the “price” of money. As Austrian economists have pointed out, however, interest is what people are willing to pay to control resources at the present time instead of waiting until later, time preference.
The more things change, the more they remain the same. In our present age of inflation,
The Fed’s specialty is propaganda through data, with a long record of failure. This is by
Banking systems around the world have huge effects on our lives, yet few people understand how
