Central bank digital currencies need to be centralized and manipulable to some extent in order to use them to implement monetary policy, which is central bankers' goal. This characteristic makes them a very risky proposition.
Although many central bankers have claimed the central banks are instrumental in ushering in a more green economy, a closer look suggests the opposite is true.
Can newly issued currency be used to pay for public works, health care, college, entitlements, and guaranteed jobs? If it sounds too good to be true, it is—and Dr. Murphy joins the Human Action Podcast to explain why.
It seems the reach and influence of central banks has never been higher, yet they are increasingly flying blind in an environment where central bank tools are growing ever more imprecise and dangerous.
It seems the reach and influence of central banks has never been higher, yet they are increasingly flying blind in an environment where central bank tools are growing ever more imprecise and dangerous.
The US Constitution says nothing about central banking, so it does not authorize the existence of a central bank. Yet, "the Constitution has been tortured and twisted even as we speak to allow big government to control our lives."
Today’s macroeconomic beliefs defy all the historical evidence with their focus on increasing the economic presence of the state at the expense of the productive private sector.
The “cure” to the current crisis that is forced upon all Europeans now is not just worse than the disease; it is the disease.
It is often claimed that inflation reduces the true burden of debt. This is true for existing debt, but those who advocate it as a remedy for government indebtedness fail to understand that it also increases the cost of the government’s future debt.
