Private, or “crypto” money will eventually replace government money. Bank on it. As written in The Money Confusion, profits from the trading of fiat currency chaos ($7 trillion per day worth of currency trading) ensure the eventual erasure of those margins. The speculation here is that stable, private money will be the instigator of the […]
Tether & Bitcoin Have a Big, Routinely Ignored Dollar Problem Read More »
Central banks don’t “supply” dollars to cities, states and nations, rather dollars are an automatic effect of production in cities, states and nations. Contrary to what most economists believe, central banks don’t need to concentrate on managing so-called “money supply,” nor could they manage what is a market phenomenon in the first place. Money
Rising Dollar Circulation In Syria Is a Sign of Liberty Read More »
Every so often it’s useful to quote arguably the most important passage from Wall Street Journal reporter Craig Karmin’s 2008 book, Biography of the Dollar. Karmin noted that prior to 1971, there “was no need for a foreign exchange market because all major currencies were pegged to a dollar rate and could only be changed in unusual
The World’s Stablecoins Deserve More From the Dollar Read More »
