In his new book The Bitcoin Standard, Saifedean Ammous displays a fine understanding of money, and also a good grasp of how currencies like Bitcoin could revolutionize the government-dominated banking sector.
Economic growth comes from the accumulation of real wealth — which is necessary to produce more goods and services.
Politicians, who claim that a week in politics is the long term, fail to see any problem.
A return to a system of 100% bank reserves is anything but radical. It would be quite conservative, prudent, and sensible.
Central bankers are claiming that a global savings glut is driving down the "natural" interest rate to negative levels. They're wrong.
As Zimbabwe's economy worsens, its government now insists residents start using easily-inflated local currency again. This is sowing the seed of another devastating episode of hyperinflation.
MMT “is a mix of old and new, the old is correct and well understood, while the new is substantially wrong.”
Some people — including Donald Trump — think the dollar is too strong, and many propose the creation of a new version of the Plaza Accord, i.e., a multilateral agreement that includes coordinated intervention in foreign exchange markets.
Without a turn toward hard money, the odds are that the world’s dependence on the Greenback will not decline but presumably grow even more in the years to come.
Central banks pretend all these benefits come at no cost to anyone. Unfortunately, we all ultimately pay the price.
