Few people understand the purpose of so-called “legal tender”. It is widely believed that the government’s legal tender laws protect citizens’ money by formally designating it as the official medium for the settlement of transactions. [more…]
Turkey has been almost constantly in the news over the past year, as troubling headlines about its economy and political situation continue to pile up. In a currency meltdown that escalated last summer, the Turkish [more…]
As many of you will know, in 2018 I bought a Volvo FH16 750. However for the last 3 years previous I have predominantly run Renault Trucks, in 2015 Renault Trucks released their new T [more…]
With the EU elections fast approaching, this article, written by my dear and long-time friend Natalie Vein, offers a very different perspective. It focuses not on the choices on the ballot, but on the EU voting campaign [more…]
More often than not, regulation is a cover-up for exploitation or protectionism – probably both. Thoughtless, invasive regulation has become unstoppable. Traders and consumers adhere to the idea that highly regulated markets serve their interests, [more…]
A few years ago, shortly after the 2008 subprime lending disaster, the Fed sent a public relations team around the country to conduct supposedly “educational sessions” about how the Fed works and the wonderful things [more…]
It must be clearly stated that Theresa May’s “deal” was not a compromise at all – it would have been nothing short of a humiliating capitulation. Let’s be in no doubt – the PM’s proposed [more…]
A number of Going Postal subscribers have asked me to cover the concept of Bank Bail Ins. My intention therefore with this essay is to outline the idea for the intelligent layman rather than the [more…]
The French economist Frederic Bastiat is chiefly remembered for having developed the concept of “opportunity cost” or, more colourfully, “that which is seen, and that which is not seen”. We could put it more simply: [more…]
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