Central Bank Digital Currencies: The Last Battle in the War on Cash
Sponsored by Dan Johnson and Randee Laskewitz.
Sponsored by Dan Johnson and Randee Laskewitz.
Because Federal Reserve policies distort the economy and create perverse incentives, Disney also must deal with intellectual property issues. The combination of the two will ruin the Snow White story.
Jonathan Newman rejoins Bob to explore more of the mechanics and political implications of the Fed's current state of insolvency.
No matter the situation, bank CEOs believe that the Big Score is just around the corner. Then reality hits.
While central banks use administered interest rates in hopes of emulating the natural rate, these efforts are always going to fail. Without free markets, there is no natural rate.
The boom-and-bust cycles are not natural to a market economy, contra Keynes. Instead, government through monetary manipulation creates them—and then politicians blame markets themselves.
Fractional reserve banking allows the Federal Reserve to manipulate the money supply, leading to booms and busts. Central banking is not a defense against business cycles; it is a major cause of them.
While court economists such as Paul Krugman insist that inflation is government's way of ensuring full employment, in reality, inflation is one of the many ways governments steal from productive people.