The Week in Review: April 23, 2016

Friday, April 22, 2016 22:10

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by Mises Institute
Mises.org

Money was in the news this week as Treasury Secretary Jack Lew sided with Ben Bernanke, announcing that the father of crony capitalism gets to stay on the ten dollar bill while Andrew Jackson makes way for Harriett Tubman. But why stop at Jackson? As Ryan McMaken argues, the country would be better off eliminating all politicians from our currency. Then again many in government and the halls of central banks would prefer to simply do away with cash entirely, with the European Central Bank announcing they will no longer produce €500 notes this week. Of course, more important than the banknotes themselves are the policies behind them. And while the Euro Zone moves toward helicopter money, China is busy taking steps to make the yuan redeemable in gold.