Academic economists since John Maynard Keynes have mocked the classical gold standard, but when government implemented their system, we got inflation and destruction of the currency. Time to rethink the success of that gold standard.
To no one's surprise, governments that interfere with their economies at every turn are at war with each other. Perhaps there is another path to peace.
After all the romanticizing about democracy and voting, in the end, we are still left with the sad fact that the worst always find their way to the top.
The usual "experts" claim inflation is a general increase in the price level. Wrong. Prices rise because of inflation, which is a government-caused increase in the amount of money in circulation.
Ukraine should have been a middle-income country by now. Instead, it is one of the poorest in Europe. If Ukraine joined the EU, it would be the poorest country and well below even Bulgaria.
No matter the historical era, governments have excelled at one thing: debasing their own currency. Rome was no exception, as Roman government excesses required inflation—lots of inflation.
A central bank whose policies accommodate irresponsible deficit spending by the federal government is a menace to society, unleashing uncontrollable forces.
