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The Fed’s balance sheet crowds out bank lending, stifling economic growth.
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Banning Bitcoin might have the unintended consequence of causing the average citizen to think a lot harder about why governments have a monopoly on currency in the first place.
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The price of bitcoin has soared and many are left scratching their heads.
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Coinage provided an easy-to-assess standard. It also presented a significant temptation for the fiscal authority.
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Chartalists are right: debt preceded money. But that fact doesn’t do the work they think it does.
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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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