For decades, central banks have encouraged ever larger mountains of debt. But now the debtors face big problems as interest rates rise. Families and small business will pay the price.
Gold historically has not been money by government fiat. Instead, gold has been the natural choice of people for money, something governments cannot undo (despite its best efforts).
The former Romanian dictator Nicolae Ceaușescu not only arrested and murdered political opponents but also misdirected vast sums of money toward socialist schemes that failed, leaving Romanians even worse off.
At the urging of the United States, Germany and other European governments have levied sanctions against Russia. In reality, these governments have levied sanctions against themselves and their citizens.
Most government intervention into currency exchange rates create more problems than they solve. Japan's lost decades are a prime example of what can happen.
Not long ago, Germany's politicians were proudly phasing out nuclear power. Facing a harsh winter without Russian natural gas, the atom suddenly seems like a good alternative.
Germany's foray into green energy is turning out to be a disaster, but abandoning the green utopia is only the first stage for that country. It is time to put common sense and sound economics at the forefront of German policy making.
