Chris Battle is the author of The Satoshi Strategy: Bitcoin, System Dynamics, and the Architec

Philipp Velich (philipp@velich.at) is a graduate student in banking and finance at the University of St.

Government Kills the Spirit

One of the industries hardest hit by the spike in fuel prices caused by the Iran War is airlines. Jet fuel prices have doubled since the start of the war. Airlines have reacted to the fuel price increase by raising fares and baggage fees, as well as by cutting routes.

Raising prices is not a good option for “budget” airlines since their main appeal to consumers is their low prices. Increasing prices could cause these carriers to lose business.

When the Federal Government Subsidized Robberies

In February 1976, more than 70 petty criminals in Washington, D.C., donned their best clothes—some even rented tuxedoes—to attend a lavish party thrown by the Italian mafia. For months, these men had been robbing homes and business for goods they could fence. The gangsters who ran the fencing ring had names like “Angelo Lasagna” and “Rico Rigatone,” and they paid out $67,000 dollars over the course of five months for more than $2.4 million worth of stolen goods.