The consequences of counterfeiting are the same regardless of who does it. The counterfeiters are exchanging nothing for something — thus stealing from those who create real value.
Jeff Deist joins David Gornoski to respond to billionaire hedge fund manager Ray Dalio's recent interview on 60 Minutes.
Dalio played the game, by the rules of the game. Now he appears to say, "I've got mine, let's change the rules."
Stated simply, gold-standard proponents seek a dollar that is widely trusted as a constant measure of value. Nothing more. Nothing less.
Using Japan as a model, governments are steering us toward a worldwide zombie economy — but we're likely to end up with something that looks more like Argentina than Japan.
Trump doesn't understand the problem with the boom-bust cycle is the boom phase, not the bust.
Expansionary monetary policy causes economic recessions. It doesn't cure them.
"The power to issue money was essential for the finance of the government … in order to give to government access to the tap where it can draw the money it needs by manufacturing it."
Joseph Salerno discusses the Hoppean method of addressing economic controversies.
The real problem was the money supply inflation that happened during the boom phase. Combating deflation in the bust phase only superficially treats a symptom of the boom-bust cycle.
