Central planners constantly run into the problem that people are not willing cogs.
Money and Banking
Inflation is not needed to grow economies but to grow governments.
After President Nixon’s gold default in 1971, many people advocated a return to the gold standard. One argument has been repeated: consumer prices are rising. While this is true, it wasn’t compelling in the 1970’s and it certainly doesn’t fire people up today. Rising prices—what most people think of as inflation—is a dead-end, politically. People […]
I write often about inflation, and often emphasize that it is not about rising prices. It is important that we define our concepts correctly. Inflation is monetary counterfeiting. Here is a quick graph I made to underscore the point that although the quantity of dollars may be rising, crude oil is falling. I was making two points. […]
History shows that, whenever financial institutions, whether domestic or global, have been allowed to develop freely, the results have been far more satisfactory than those from government-designed schemes.
Credibility at the Fed is about subtleties and about perceptions, as opposed to reality.
William Jennings Bryan, the most stalwart enemy of both private currency and currency monopoly since Andrew Jackson, helped to create a currency monopoly far more powerful than any that Jackson could ever have envisaged, and far more capable of gratifying Wall Street, at the expense of the rest of the nation, than Wall Street alone, […]
One of the biggest, and one of the oldest, taxes is inflation. Governments have stolen their people’s resources this way, not just for centuries, but for thousands of years.
Why does anyone use bitcoin and what accounts for its popularity in some countries and industries?
Another view on Bitcoins.
Risky as this new currency may be, I still trust it more than I trust politicians.
All that glitters is not gold.