The net result remains: private loans will utilize existing resources and capital far better than government loans. Government loans will waste far more capital and resources than private loans. Government loans, in short, as compared with private loans, will reduce production, not increase it.
Henry Hazlitt
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One thought could change your life, your wealth, your trading day, your happiness. Mostly they come and go, but few stay. This is something that you can find usefull, it’s not only about trading, but it could change your feeling of the market and make you become more resistant to “green shoots”, government stupidity, manipulation [...]
Monetary system: it should be obvious that the public has little or no say in this system of money production. Such money cannot be refused as payment, and there are barriers to introducing other things as money. The markets do not determine what money is, how much there is, how it is created, or who [...]
absolutely beautiful thoughts
Interview:
George Selgin By Stephen Slivinski
RF: Describe free banking. How does it differ from the sort of system we have in the United States today?
Selgin: I use the term to mean laissez-faire banking — banking without any special government regulations or restrictions. Like free trade, it’s an ideal concept. It doesn’t refer to any specific [...]