Ulrich Fromy

Bastiat emphasized that much of what goes on in the economy involves things we don’t see directly. Intermediaries often fall into Bastiat’s category of things “not seen.”

Over the centuries, European governments have driven talented workers out of their countries. That unfortunate legacy continues as France is the latest nation facing a “brain drain.”

EU Central Bank President Christine Lagarde has declared that anything that might lead to private currencies must be stopped. Yet, as F.A. Hayek noted, one way to confound central banks is through private currencies.