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Turkey's President Erdoğan faces a series of crises as the lira collapses and the state's central bank steps in to clean up the mess.
The adoption of gold as the preferred commodity money was never inevitable or based on some sort of natural law of money. Many coincidences and political schemes were key factors.
This is freedom: "That he is independent of the arbitrary power of his fellows … [freedom] arose in the process of social development and its final completion is the work of mature Capitalism.”
Booms and BustsThe Fed
Contractionary monetary policy may be necessary to slow the rise of inflation, but the recessionary results of this remind us why the Fed's inflationary policy is so dangerous.
Money and Banks
Overall, at least 50 percent of the consumer price index in Japan appears to be government controlled, which is reflected in the significant growth of government spending on subsidies.
Economics is haunted by more fallacies than any other study known to man. This is no accident.
Money and BanksTaxes and Spending
From its inception, the Fed's job has been to pay off the debt and cover excess expenditures with newly printed paper money.