The Bank-Run Phenomenon
One of the most fascinating phenomena in financial crises is that of bank runs. That’s when panicked depositors rush to their bank to withdraw their money because they’re convinced that the bank is going broke. Everyone tries to withdraw his money before that happens....
The Inanity of the Foreign Agents Registration Act
Last week, Thomas Barrack, an old friend of former President Donald Trump, was acquitted by a jury in a U.S. District Court in Brooklyn. The charge? The feds were accusing Barrack of having failed to register as a foreign agent of the United Arab Emirates. I don’t...
Expanding IRS Tyranny to Reduce Inflation?
One of the interesting aspects of President Biden’s Inflation Reduction Act was the allocation of $80 billion in increased funding for the Internal Revenue Service, one of the most powerful and tyrannical agencies in U.S. history. The money is intended to be used for...