When the Remedy is More Destructive than the Disease

The U.S. government once again proved that it does foolish and destructive things by trying to impose a tax that actually loses money. The Internal Revenue Service (IRS) demanded information from a San Francisco bitcoin exchange about who was buying and selling...

The End of Government Monopoly Money

After two centuries of government monopoly money, private monies are re-emerging and will likely come to dominate ultimately. Back in 1976, Nobel Laureate F.A. Hayek published his little classic, “Denationalization of Money.” In essence, Hayek argued that money is no...