In June, year-over-year growth in the money supply was at 1.98 percent. That was down slightly from May's rate of 2.10 percent, and was well down from June 2018's rate of 4.30 percent.
For centuries, entrepreneurial talents in China were diverted to military wars, political struggles, and government services. But now things are changing.
Even if business people learn to expect easy-money caused bubbles and busts — this would still not prevent the formation of a boom-bust cycle.
“A billion here, a billion there, pretty soon you’re talking about real money.”
Conservatives appear to be increasingly in favor of using the power of the state to force their agenda. But what happens when the state they favor is turned against them?
The fact that politicians, central bankers, and “too big to fail” bankers all oppose a gold standard is a tacit admission that hard money would serve as an effective constraint on their activities.
After quoting H.L. Mencken’s famous quip, “Nobody ever went broke underestimating the intelligence of the American people,” Andrews wonders, “I don’t know if old H.L. was a bookmaker, but he would have been a great one if he had been.”
See what we've accomplished this quarter! We are proud of our students and events and keep improvement as a constant goal. Thank you to our Members who make all of this possible.
The critical question is this: Is the Libra really good — or sound — money? Unfortunately, this question cannot be answered in the affirmative.
