Financial Markets

Allowing short selling increases the number of people with an incentive to discover valuable information about firms’ prospects by providing an added mechanism to benefit from information that turns out to be negative. This makes markets more responsive and honest.

America has grown accustomed to decades of "too big to fail," which means making sure the Wall Street elite never has to endure any real pain. It's because of this that pundits were quick to claim the GameStop affair was a grave threat to America.

With a sound money, none of these distortions would have been possible: the limitations of the currency itself would have forced an unwinding of excessive risk far before it could become a clash between major hedge funds and Reddit trolls.

No matter how bleak the economy may be, the Keynesians are likely to say, “It would have been worse without us.”