Market Theater, Gold, and the AI Bubble
Mark Thornton argues Washington is trying to manage bond yields, suppress gold’s warning signal, and sell AI as an inflation cure—even as debt and malinvestment pile up.
Mark Thornton argues Washington is trying to manage bond yields, suppress gold’s warning signal, and sell AI as an inflation cure—even as debt and malinvestment pile up.
Without established exchange-ratios between a currency and goods, a fiat-token cannot meaningfully serve as a unit of account because it has no referent. The only way a state could meaningfully ground such a fiat-token by political decree would be through comprehensive price controls.
On this episode of Power & Market, Ryan, Connor, and Tho hit on a variety of topics, including meaningful rollbacks of Flock in the south, a look at immigration protests in Spain, and Washington's new corporate oil deals in Venezuela.
Public employee unions have used their built-in advantages to damage this country’s political economy and work hardships on taxpayers.
Manufacturers can choose the free market. Bankers rarely do.