By Tomas Forgac The central bank digital currencies (CBDC) are being sold with the narrative of protecting consumers who are increasingly moving to cashless payments. These cashless payments, we are told, rob us of privacy advantages of cash and while exposing us to bank runs, payment network blackouts, and to foreign financial adversaries. Yet, while these risks are … [Read more...] about Three Reasons Why Central Bank Digital Currencies Are a Bad Idea
Banking
Why Governments Hate Currency Competition
By Thorsten Polleit Introduction In this article, I would like to accomplish two goals: First, I want to explain what money is (and what it is not). I will argue that money is the medium of exchange, and that this is the only function of money. Second, I will point out why the size of the money supply does not matter and that the money supply does not have to grow to make an … [Read more...] about Why Governments Hate Currency Competition
One Weird Sign of Trouble in the Banking Sector
By Simon Black, Sovereign Man It was only a few generations ago that most people spent their entire lives within a few miles of where they were born. They grew up, lived, worked, and retired, all in the same place. And that was normal. Travel and relocation didn’t really become commonplace until after World War II. But even then, the most common reason people moved was … [Read more...] about One Weird Sign of Trouble in the Banking Sector
Central Banks Are Destroying What Was Left of Free Markets
By Alasdair Macleod President Reagan memorably said that the nine words you don’t want to hear are “I’m from the government, and I’m here to help.” Governments in all the major jurisdictions are now making good on that unwanted promise and are taking responsibility for everything from our shoulders. Those receiving subsidies and loan guarantees are no doubt grateful, … [Read more...] about Central Banks Are Destroying What Was Left of Free Markets
The Wealth Redistribution Scam That Is “Inflation”
By Thorsten Polleit The world over people are told that central banks pursue “price stability” by making sure that consumer goods prices do not rise by more than 2 percent per annum. This is, of course, a big sham. If the prices of goods rise over time, it does not take that much to understand that prices do not remain stable. And if the prices of goods increase over time, … [Read more...] about The Wealth Redistribution Scam That Is “Inflation”