Austrian Economists on State of the Investment Industry
The Dollar Vigilante, and Austrian Economics based journal that promotes individual financial empowerment rather than dependence on the government's financial system, has released an article arguing that Keynesian based advisory firms are putting people into the "worst possible investments." According to TDV, these Keynesian advisers and fund managers are purchasing 10 year US Treasury bonds at 2.3% when actual (real) monetary inflation is near 10%, thus resulting in almost complete loss of buying power during the duration of the bond. Also read: Forex Exchange Secure Investments....
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This is a guest post by Ben Best. Bitcoin and Austrian Economics. Austrian Economists are harsh critics of government central banks (such as the Federal Reserve System of the United States - a name intended to obscure its role as a central bank, unlike the Bank of England). Austrian Economists can also be very critical of fractional reserve banking, the practice of lending money in greater quantity than the amount of deposits. For these reasons, Austrian Economists could be expected to be enthusiastic supporters of Bitcoin. Unfortunately, this is usually not the case. Cryptocurrency,....
Since Bitcoin is often equated to and dubbed as “digital gold,” would famous Austrian school economic theorist Ludwig von Mises choose Bitcoin over the world’s favorite precious metal if he were alive today? In a 1951 book titled “The Free Market and Its Enemies,” theoretical Austrian School economist, Ludwig von Mises, argues against the dangers of fiat....
There have been a number of Bitcoin detractors. Most mainstream economists and intellectuals denounce the idea as either impossible or a hoax, or they misconstrue it along the lines of play money or niche money. Another group of Bitcoin detractors comes from an Austrian/Hard Money contingent. These gentlemen who recognize the invalidity of the Keynesian models have nevertheless made their own various arguments attempting to demonstrate that Bitcoin cannot serve as money. For naysayers of this persuasion, there is nothing improper about the economic incentives of such a system, but simply....
PRESS RELEASE. Austrian Post, the national postal service of Austria, has announced the launch of its latest product called Crypto stamp art (CSA), which is based on the Ethereum blockchain. The shift to focus on going digital first is significant, since Austrian Post is a major player in the blockchain industry and have successfully sold out several iterations of Crypto stamps since 2019. Previous generations of Crypto stamps, however, mostly centered the sale around the physical stamp which was accompanied by its digital twin.
The launch of the CSA is planned on July 22, 2022,....
Here's Part 1: The Value Foundations of Bitcoin. While gritting teeth and shaking hands with Bitcoin is necessary, Austrian economists should flash a toothy smile and embrace it warmly. Bitcoin is, after all, Rothbardian money. I say this because Bitcoin digitally manifests the optimal attributes given to money by Austrian School economist Murray Rothbard. Because of the distributed nature of its protocol, Bitcoin is, in fact, superior to its alternatives: fiat money and a return to precious metals. The comparative advantages Bitcoin provides are staggering and therefore those who champion....