Jacob Hornberger

Central Banking and War


Jacob Hornberger, founder and president of the Future of Freedom Foundation, discusses the debasement of the dollar to finance out of control government spending and empire, the history of inflation, how it works as a hidden tax, how Bernanke’s admission that it was The Fed who caused the Great Depression, the Republican fake patriots lead by fear monger Bill Kristol, the the chickenhawk, draft-dodgers attempts to live vicariously through the boys they send to war, the White Rose in WWII Germany, Barack Obama, the Bill of Rights, Bush’s handing of Baghdad over to Tehran, and don’t forget the Future of Freedom Foundation’s upcoming conference: “Restoring the Republic: Foreign Policy & Civil Liberties” in Virginia, June 6-8.

MP3 here. (46:12)

Jacob Hornberger is founder and president of The Future of Freedom Foundation. He was born and raised in Laredo, Texas, and received his B.A. in economics from Virginia Military Institute and his law degree from the University of Texas. He was a trial attorney for twelve years in Texas. He also was an adjunct professor at the University of Dallas, where he taught law and economics. In 1987, Mr. Hornberger left the practice of law to become director of programs at The Foundation for Economic Education in Irvington-on-Hudson, New York, publisher of The Freeman. Freedom Daily. Fluent in Spanish and conversant in Italian, he has delivered speeches and engaged in debates and discussions about free-market principles with groups all over the United States, as well as Canada, England, Europe, and Latin America, including Brazil, Cuba, Bolivia, Mexico, Costa Rica, and Argentina. He has also advanced freedom and free markets on talk-radio stations all across the country as well as on FOX New’s Neil Cavuto and Greta van Susteren shows. His editorials have appeared in the Washington Post, Charlotte Observer, La Prensa San Diego, El Nuevo Miami Herald, and many others, both in the United States and in Latin America. He is a co-editor or contributor to the eight books that have been published by the Foundation.

6 thoughts on “Jacob Hornberger”

  1. I have a brother who is an admirable professor of economics at a large American university. Admirable, because he teaches — against the grain — the Austrian school of Economics (a la Ron Paul). Yet even my brother will not take on the task of explaining the real meaning of inflation. Let’s get this straight: inflation refers to our federal government’s EXPANSION (via printing presses — or easy credit — from the Federal Reserve Bank) of our nation’s money supply. When this happens, each dollar eventually becomes worth less. In a very short time, these devalued dollars BUY LESS and it takes MORE OF THEM to to buy anything that everyone buys. American consumers see these rising prices as inflation. THE RISING PRICES ARE NOT INFLATION. The expansion of the money supply IS INFLATION.
    There is no reason why “inflation” should be allowed to happen UNLESS the public is CONFUSED about the true MEANING of the term.
    Why won’t even intelligent, admirable teachers like my brother explain the true meaning of inflation?
    Because, as my brother tells me, in the field of economics, “inflation has come to mean: rising prices.” And he usually adds: “you have to pick your battles.”
    I, personally, cannot think of A MORE IMPORTANT battle to pick than this one. Can anyone disagree?

  2. Jim,

    The battle you speak of is critical. Unfortunately, this assumes that people have the intellectual tools necessary to understand the economic principles in question. They don’t. Most can barely read and write.

    It pains me to write this, but the government does succeed at something besides killing and spending. It has achieved its goal of graduating millions of ignorant people that are oblivious, pliant and obedient. They also vote. The results are self-evident.

  3. Firstly, dont pay any attention to remarks about flag lapel pins, they know they are saying something quite silly and minor and they do it solely to create controversy and drive the opponents supporters crazy. Its an obfuscative tactic that puts people on time wasting defense.

    Most people dont realize Jim is that the FED has a target rate pf 4.5% increase in inflation. They actually WANT regulated inflation.

    Nixon closed the gold window in 1971. This let the global inflation genie out of the magic lamp, I dont know if they can stuff it back in. This means our dollar is subject to speculation and not pegged to oil or gold.

  4. Indeed, inflation has come to mean rising prices but the two are not the same. Rising prices can mean inflation but under different circumstances it can mean “cost increase”. Consider: prices double and your income doubles. Result – inflation. Now, suppose prices double and your income remain the same. Result – cost increase. Further suppose prices increase by 100% and your income increases by 75%. Result – inflation and a cost increase. The meaning of the term ‘inflation’ has been deliberately blurred both in the regular media and the specialized financial press. It is in fact normal and necessary for the money supply to grow when an economy expands. Gold and silver, to some, may be God’s metals but they won’t work as the sole money supply for an economy. Lastly, “free market’ economics is in fact a religion because it assigns certain characteristics to Man. It assumes a human being is only a special animal. Give up on the ‘ten-lost-tribes’ nonsense and you will see the world much more clearly.

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