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There are two reasons monetary policy cooperation might backfire.
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Banning cash is inconsistent with the liberal tradition. It is the way of despots.
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Money is not about one person in isolation. It is social.
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To anyone familiar with free banking systems, the answer is obvious.
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If we want sound money, we cannot afford to ignore the political process.
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The high price of bitcoin serves as a reminder of its rigid supply, which might ultimately be its undoing.
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Economists might wish it were otherwise, but the Fed is not independent.
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A whirlwind tour through alternative theories would seem to suggest one fits much more comfortably with a pro-liberty worldview than another.
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Financial innovation reduces the costs of transacting and storing wealth.
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Cash can be converted to goods all but instantly, but provides the holder of cash no interest.
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Indians accomplished in mere months something that took Europeans ten years.
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