Monetary sovereignty is not something the government decides. It all depends on the public's demand for a currency. That demand comes and goes, and once it's gone, a currency is irreparably damaged.
To be an economist with integrity means having to say things that people don't want to hear and especially to say things that the regime does not want to hear.
In January, money supply growth hit a new all-time high, rising slightly above September 2020's previous high, and remaining well above growth levels that one year ago would have been considered unthinkable.
"The true principle of isolationism is that the government should be isolated and people who trade, interchange, and engage in voluntary travel, migration, and so forth should be allowed to peacefully do so."
Eugenicist Progressives introduced the minimum wage, because it was well suited to perform the Progressives’ dirty work of discriminating against (what they considered) the least productive by making them unemployable.
"I am not against bank notes as such … I want to give everybody the right to issue his own banknotes. The problem then would be to get other men to accept such private banknotes; maybe nobody will take them."
Although it is important to recognize that massive price inflation is always the result of massive monetary inflation, there isn’t a stable relationship between the two.
