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“We want to leave a good planet, not just a good currency” (Mario Draghi, February 17, 2021, first speech by Prime Minister to the Italian Senate).

The environmental issue, like the monetary one, focuses on the exact same problem: the systematic and legal aggression of private property by the State. Let us focus here on the monetary issue. Let’s go deeper into the concept of “good money” that Draghi spoke of to Italians.

A “sound money”, according to Draghi, is that which, being infinitely inflationable, loses more than a third of its purchasing power in less than twenty years: according…


In a barter economy, imagine Peter the miner that produces X ounces of silver. The reason why he mines silver is because there is a market for it: silver contributes to the well-being of people. Peter then exchanges his X ounces of silver for various goods and services. Over time, people have discovered that silver — being originally useful in making jewelry — is also useful for other applications. They now begin to assign a much greater exchange value to silver than before. …


In 1946, one of Friedrich Hayek’s best works was published, “The Use of Knowledge in Society”, which would then allow him to be awarded the Nobel Prize in Economics about 30 years later. 75 years have passed since the publication of that extraordinary work and we can still learn the lesson taught. No matter how much he, and Mises more than him, warned against the presumptuous knowledge of individuals supposedly wiser than everyone else: the proverbial “power grabbing” by central planners is now more rampant than ever. …


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There can be little doubt that central banks want to increase their control over money and how it is used. Sound money is crucial when it comes to defend people’s economic freedom against the overwhelming control on the part of the state and sound money is not forced by the state but is chosen by the people in the free marketplace. The actual fiat currencies we are accustomed to — be it the US dollar, the euro, the Chinese renminbi, the yen, or the Swiss franc — represent fake money, monopolized by the state.

Fake money is economically and socially…


The Eurozone is the true ‘problem-child’ in the global recovery-narrative. It already succumbed to recession in Q4 2019. There are also very few signs of an actual recovery in the currency bloc, reflected, for example, in collapsed industrial sentiment, which has not recovered. This does not bode well for the fragile European banking sector. Europe needs more than ever the principles that made it successful in medieval times: decentralization, free trade, and sound markets. Brexit can be the start. We need a Europe of Switzerlands and Lichtensteins rather than a United States of Europe. A step in the right direction…


Yesterday, we saw a strong increase in bitcoin above the $10,000 resistance against the US Dollar. BTC extended its rally above the $10,200 and $10,500 resistance levels to settle above a couple of crucial hurdles.

There was a break above the $11,000 level and the price settled well above the 100 hourly simple moving average. A new monthly high is formed near $11,422 and it is currently consolidating gains. It corrected lower below the $11,200 level.

However, the 50% Fib retracement level of the recent rally from the $10,275 low to $11,422 high acted as a strong support near $10,850…


The central bank’s balance sheet declined by $88 billion to $6.97 trillion (-1.5%) in the week ending July 8, having hit a record high of $7.16 trillion in early June, according to the data source Federal Reserve Bank of St. Louis. The decline is the largest in 11 years.

The drop is a sign of the Fed starting to unwind the liquidity-boosting measures rolled out over the past four months to counter the economic effects of the coronavirus crisis. Some have anticipated a pullback in bitcoin prices as a result.

That’s because the leading cryptocurrency by market value has recently…


Despite the 2018 bear market, market players continued to support the effort to adopt cryptocurrencies. And despite the headwinds, those who our posts on Medium and fully understood what lies behind the world of cryptocurrencies were sure that crypto would survive. In 2020, even those who were skeptical are understanding this.

One of the reasons why market players include Bitcoin in their investment choices is because it will improve their overall performance. Cryptocurrencies are not related to canonical markets. In other words, their movements are not related to the stock market or general economic cycles. …


Bitcoin is gaining bullish momentum and it broke the $9,800 resistance zone against the US Dollar. BTC price is likely to continue higher if it settles above the $10,000 resistance zone.

  • Bitcoin is slowly moving higher and it is trading above the $9,800 and $9,720 support levels.
  • A successful daily close above the $10,000 level could spark a sharp rise in the near term.
  • There was a break above a key contracting triangle with resistance near $9,780 on the hourly chart of the BTC/USD pair.
  • There might be a short term correction, but the bulls are likely to protect $9,800…

Is your brother/sister birthday, or a friend of yours birthday, fast approaching? If you’re looking for the perfect gift for that special someone, who better to ask than an economist?

In 1993, Yale economist Joel Waldfogel published a famous paper on the optimal gift-giving strategy. His assessment won’t come as a surprise to anyone familiar with the buzz-killing tendencies of the dismal science: gift-giving holidays are inefficient. Indeed, Waldfogel found that holiday gift giving “destroys between one-third and one-tenth of the value of gifts.”

Why is gift giving inefficient? As Waldfogel notes, a standard principle of economics is that individuals…

Melis

MultiSignature, MultiUser, MultiDevice Bitcoin, Bitcoin Cash, Litecoin, Bitcoin SV, BCHA, Groestlcoin Wallet: https://www.melis.io/

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