Central Bank Digital Currency: Paper Money isn’t the Solution
Physical paper money solves some of the privacy and security issues inherent in central bank digital currencies (CBDCs). But a lot of people seem to have forgotten that government-issued paper fiat is the parent of a CBDC, and it won’t solve the more fundamental...
The Founders Predicted our Economic Crisis
Did Thomas Jefferson call the economic crisis? “Every thing predicted by the enemies of banks, in the beginning, is now coming to pass. we are to be ruined now by the deluge of bank paper as we were formerly by the old Continental paper.” That’s from a letter to...
Why Is Paper Money Constitutional?
The official money of the United States today is paper currency. But that’s clearly not what the Constitution says. It says that gold and silver coins shall be the nation’s currency. How is that possible? I thought the Constitution was supposed to be the highest law...