Tuesday The enthusiasm with which our parliaments and their myriad departments produce regulations implies a belief that when a sufficient number have been enacted we will have a social and economic perfection. I am reminded of the saying ‘the road to hell is paved with good intentions.’ Yet they cannot cease their destructive impulses, for were they to do so, then it … [Read more...]
Monetary Stockholm Syndrome
Thursday The policies of President Reagan led to the strong dollar decades. Did that lead to a mass sell-off of dollars? Of course not. People are unwilling to sell things that they believe are going to increase in value. It was only when the value of the dollar came into question at the turn of the 21st century that they began to be sold. At that time, an ounce of … [Read more...]