Thomas Catenacci on March 18, 2021 Senate Banking Committee Republicans led by Ranking Member Pat Toomey urged Federal Reserve Chair Jerome Powell not to pursue environmental policies in a letter Thursday. Toomey and the other Republican committee members warned that the Federal Reserve potentially using regulatory authority to push an environmental agenda would be beyond…
By Jeffrey A. Tucker Facebook’s Libra – a stablecoin that could offer a serious challenge to the money and banking status quo – will likely be very good for mainstream acceptance of blockchain technology as an infrastructure of a global privately produced currency. It could become a genuine challenge to the whole idea of nation-state money as…
Let us start with talking about bad money, by which I mean the US dollar, the euro, the Japanese yen, the Chinese renminbi, the British pound, the Swiss franc, and basically all official currencies. They all represent fiat money. The term fiat is derived from the Latin word fiat and means “so be it.” Fiat…