Austrian Economics – Perpetual Adoration

January 25, 2014

Fake Money vs. Real Money

Last week, USA Today ran a story about how leaders of the American Postal Workers Union are outraged about a pilot program that the U.S. Postal Service is testing in four states. The Postal Service has arranged for the installation of 84 postal counters to operate within Staples office supply stores in California, Georgia, Pennsylvania, and Massachusetts.

January 18, 2014

Bitcoins, Money, and Digital Savings Accounts

You may have heard of bitcoins, a digital currency that is being used by various individuals to purchase items on the Internet. There are a lot of people who think that the adoption and use of bitcoins is a solution to some of the problems caused by the runaway creation of money by various governments throughout the world. I have my doubts about the viability of this so-called new form of money. Here’s how Wikipedia describes Bitcoin: