Friday, January 23, 2015

Currency Wars among Controlled Economies

The rush to devalue national currencies is like cutting off your foot so your favorite transnational corporation can sell you an overpriced prosthesis, made in their overseas sweatshop, to an HMO that Medicare will cover. Soon with Obamacare, only Medicaid recipients will qualify. The way to look at devaluing your countries currency is that it takes more worthless fiat species to buy the same amount of products. How laudable is this economic policy? 

Read the entire essay from the Inherent Autonomy archives

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