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…
by Ben Ramanauskas Ever since Hugo Chavez came to power in 1999, Venezuela has been subjected to socialist policies. For example, it has undertaken a colossal social spending program, combined with price and labor-market controls. As the Government spent more and more, it was forced to rely on the profits of the State-owned oil company,…
By Lina Bryce During an interview on economics last week, 2016 GOP presidential candidate Ben Carson said that as president he would not agree to any government spending increases and to the delight of many fiscal conservatives, questioned U.S. monetary policy. Carson said: Now the only reason that we can sustain that kind of debt is because…