Why Big Government, Big Banks, and Big Tech All Hate Cash
Government, tech, and banks all have a common interest in moving consumers and taxpayers toward the abolition of physical cash.
Government, tech, and banks all have a common interest in moving consumers and taxpayers toward the abolition of physical cash.
Recessions grow out of government and central-bank interventions that direct resources away from true wealth generating activities — and toward bubble activities.
Lenin is said to have declared that the best way to destroy the capitalist system was to debauch the currency.
Neither the Fed nor the government can grow the economy. They can only redistribute real wealth.
Conflating "inflation" with a general rise in prices prevents understanding the true problem with inflation.
In March 1968, a crisis of confidence in the dollar on the free gold markets led the United States to effect a fundamental change in the monetary system.
Even with falling interest rates and high liquidity, there have been spectacular bankruptcies, so imagine what can happen when rates rise.
The new Fed Chief Powell was optimistic at Congressional hearings this week. But he may have inherited a quickly-expiring boom.
When the Fed began paying interest on bank reserves, it kept a lid on inflation. But now there's no easy way out.