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The Federal Reserve blog
Executive Order 6102, the Spring Americans Were Ordered to Turn In Their Gold In April 1933 Washington ordered citizens to hand over most of their gold, a story every saver who trusts paper promises should know. The Austrian school in plain words, from Carl Menger to Friedrich Hayek Value is subjective, prices carry knowledge, and cheap credit causes booms that bust. The Austrian school explained, with the criticisms fairly stated. Coin Money and Regulate the Value Thereof, the Founders' Monetary Clauses The Founders gave Congress power to coin money and barred states from paper tender after the Continental collapsed. What the clauses mean for the Fed. A central bank digital currency is a dollar Washington could program A retail CBDC would give government a ledger of every purchase and the power to restrict or expire money. Here is how it works and why to refuse it. Gold standard, Friedman's rule or today's Fed, three answers compared Conservatives disagree about money. Here are five monetary regimes on one table, with a fair hearing for each camp before a verdict. The Fed's dual mandate and the 1977 law that gave it two masters Congress told the Fed to pursue maximum employment and stable prices at once. That double mandate invites tolerating inflation for jobs. The Great Inflation of the 1970s was a policy choice, not bad luck Inflation from 1965 to 1982 began with money creation and political pressure on the Fed before the oil shocks, and blaming OPEC lets policymakers off the hook.