Freedom fighters around the globe are aware of the rise of new and serious attacks against free trade. There are bilateral agreements that “harmonize” regulations and may favor crony capitalism, European agrarian policy tariffs that protect farmers, alt-right and populist nationalists claims against delocalization of companies, and so on.
Earlier this week, President Trump allegedly disparaged Haiti, describing it as “sh*thole.” The response has been what you might expect. It’s been a torrent of demands for apologies from the Trump administration and commentary on how “troubling” Donald Trump’s views are.
Leonard Read, founder, leader and long-time heart and soul of the Foundation for Economic Education, and one of liberty’s most insightful adherents, took seriously his belief that the purpose of one’s life was to grow. He sought out sources of light, wherever he could find them, and incorporated them into his thoughts.
It seems like its only a matter of time before the US government introduces a new wave of regulations on cryptocurrency.
Steve Mnuchin was asked about the topic today at an event hosted by the Economic Club, and the Treasuy Secretary was quick to rattle off a number of cliched responses always used to justify bigger and more intrusive government:
In the wake of Hurricane Maria, most of Puerto Rico lost electricity. Since electronic transactions were not longer possible under these conditions, the Federal Reserve was forced to fly a planeload of cash to the island to avoid a total breakdown of the economy there.
But even then, we were assured that the loss of power was a momentary blip. Everything would be back to normal soon.
If there is something ironic, it is that, whatever happens, politicians always think that money is their monopoly.
The data for 2016 of the BIS (Bank of International Settlement) show a very different reality from the one that the European, Japanese, and Chinese central banks want us to see. The US dollar is not only the most traded currency in the world but its use has increased since 2013 from 87% to 87.6% of global transactions.
This year, the European Union will start to force continental banks to open their customer interface to third-party providers. However, Swiss banking doesn’t intend to follow suit. Such is the latest development in the fight over the soul of Swiss banking, one pitting the trend-mad robo-ification of (digital) banking against the steadfast anchor and sail of the traditional Swiss model.
