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Venezuela Turns to Barter

Global EconomyMoney and BanksMoney and Banking

Blog07/19/2018Joseph T. Salerno

As planned by Chavez, barter is indeed replacing currency transactions throughout the economy but with hardly the results the late socialist envisioned.

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Venezuela's New Cryptocurrency Is not Really "Backed by Oil"

Global Economy

Blog03/09/2018Charles Hugh Smith

If a currency can't be converted on demand into the underlying commodity, it's not "backed" by that commodity.

Chilean Protesters Could End Chile's Decades of Progress

José Niño

The history of Latin America is filled with tragic stories of countries reaching great heights — Argentina and Venezuela come to mind — and then falling back to mediocrity. Chile could be next if the protesters get their way.

Teacher Unions Destroy School Accountability

Robert Fellner

The Clark County School District evaluated itself, and it determined that all the teachers and administrators are doing a great job — and by the way, the union deserves more money.

Why Central Banks Aren't Really Setting Interest Rates

Frank Shostak

Central banks can only distort and mask real interest rates with monetary policy. Interest rates are really set by each individual's time preference.

The Silicon Valley Gulag

Jason Morgan

In his new book Google Archipelago, Rectenwald asserts the Google Archipelago re-upping of Marx is not only practically Marxist, but conceptually and structurally so.