With Jerome Powell and Janet Yellen focusing on using monetary policy to manage climate change, the M1 money supply has gone parabolic, from just over $4 trillion in February to $18.6 trillion in March. This is right out of Zimbabwe's playbook.
The central bank has basically destroyed the business of risk, and commercial real estate remains a looming disaster. As a result, banks aren't lending to regular people. The economy increasingly relies on little more than newly printed money.
Bob Murphy joins the show to discuss Rothbard's superb and eminently readable money book for lay readers.
Bob Murphy and Stephan Livera discuss the economics of Bitcoin from an Austrian perspective.
The central bank has basically destroyed the business of risk, and commercial real estate remains a looming disaster. As a result, banks aren't lending to regular people. The economy increasingly relies on little more than newly printed money.
The case of the zaïre currency in the Democratic Republic of the Congo provides strong anecdotal evidence discounting the fiat currency–obsessed modern monetary theory.
I would be silly to suggest that I know the precise potential of cryptocurrencies, but I would be even sillier if I were to say that the Indian government does.
I would be silly to suggest that I know the precise potential of cryptocurrencies, but I would be even sillier if I were to say that the Indian government does.
Hamilton was "so bewitched & perverted by the British example," wrote Jefferson, "as to be under thoro' conviction that corruption was essential to the government of a nation."
The fact that gold can be used for, say, industrial purposes does not mean it has "real value" while more intangible goods and services have none.
