Here’s What Happens When a Currency Completely Breaks Down

Here’s What Happens When a Currency Completely Breaks Down

In Venezuela, hyperinflation has become so pitiful that shopkeepers are no longer bothering to actually count money. Instead, they’re weighing it… … as in literally pulling out a scale and weighing giant stacks of money. Do you want to buy a bottle of Coca Cola? That’ll be 1 kilo of currency please. One shopkeeper interviewed…

Indian Economy Grinds to a Halt after Cash-Ban: “Faith in System Shaken”

Indian Economy Grinds to a Halt after Cash-Ban: “Faith in System Shaken”

Amid scenes of panic across India, following PM Modi’s shock decision to withdraw high-value bills in the middle of the sowing and wedding season, Reuters reports the move, aimed at cracking down on the shadow economy, has brought India’s cash economy to a virtual standstill. With over 90% of all transactions done in cash, money…

Understanding Money

Understanding Money

An understanding of the true nature of money is essential for those seeking economic reforms toward the creation of sustainable societies. People today have more erroneous ideas about money than Victorians had about sex, so please read the following with care. Let’s begin with the distinction between “legal tender” money which only the government or…

The Logic of Paper Money, Debt, and Gold

The Logic of Paper Money, Debt, and Gold

Two red-shouldered hawks are nesting in our backyard along with several squirrels. Hawks hunt squirrels – death from above via flying predators. Conclusion: We will soon have fewer squirrels. Politicians get elected by telling people what they want to hear. Politicians are (usually) funded by large corporate interests, particularly the banking industry and military contractors….