David Brady, Jr.



Articles by David Brady, Jr.

The USDA’s War on Small Farms

The Biden administration is unleashing the USDA on small farmers, attempting to regulate them out of business. This is done to protect not the public’s health, but politically connected agriculture interests.
Original Article: "The USDA’s War on Small Farms"

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The USDA’s War on Small Farms

Most students in America are introduced to the writings of Upton Sinclair. While they aren’t shown his incredible cover-up of the Holodomor or his other Soviet apologisms, they are presented with his most famous work: The Jungle. This work tells the tale of Sinclair’s investigation into the wretched working conditions of the meat-packers of its age. Between lost limbs and failed inspections, Sinclair writes about the meat being contaminated and barbarously prepared.
This tale is meant to show the supposed failures of laissez-faire capitalism, with its disregard for workers and health. Readers are supposed to walk away with a firm belief in the need for the regulation of these firms. Hurrah! Here comes the mighty state to provide safety to the masses that would otherwise be made sick by

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FedNow Isn’t a CBDC, but It Is Dangerous

While FedNow seems benign, there is the larger problem of the entire banking system itself being built on a foundation of sand. FedNow can only make that problem worse.

Original Article: "FedNow Isn’t a CBDC, but It Is Dangerous"

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Eurodollars as a Fractional Reserve Market

Austrian economics properly understands the ability of commercial banks to create money by mismatching their depositor liabilities with their issuing of money substitutes (i.e., the creation of credit). One possible place for further exploration is the role that nonbank or foreign financial institutions play in the creation of credit and the broader implications on business-cycle creation.
Let us take the dollar as an example. Say Deutsche Bank operates a branch in the United States. This branch, according to the Federal Reserve’s Regulation D, would be subject to the Fed’s reserve requirements. However, a London branch of Deutsche Bank would not be subject to such a regulation on its US dollar holdings. Similarly, a market mutual fund, acting as a creditor, is not subject to the reserve

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FedNow Isn’t a CBDC, but It Is Dangerous

Starting in July, the Federal Reserve will be rolling out a new payment service dubbed “FedNow.” Among many on the dissident side of politics, there is a growing worry that this new service may be a trojan horse for a central bank digital currency (CBDC).
The concern is a valid one. A CBDC, depending on how it is implemented, could eliminate the privacy allowed by a cash system, allow the freezing of accounts with greater ease, and open the door to social credit scores for individuals. One asks, is the fear of FedNow truly justified? Or is it a risk for another reason?
To analyze whether FedNow is a trojan horse for a CBDC, one must first understand what a CBDC would be in function. A CBDC, as defined by the Federal Reserve itself, would be “money that is a liability of the central bank.”

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