The cause of the US trade deficit isn't "unfair trade", but the dollar being used as global reserve currency, ensuring endless demand for it and allowing Americans to finance an ever-growing 'deficit without tears'.
aier.org/article/real-r…
aier.org/article/real-r…
One of the many problems of government money is that it's unworkable internationally. Network effects mean one govt's money will dominate globally & now the entire world economy is subject to the whims of its political system. Bitcoin is the only workable solution to this.
Going from one money chosen freely and used worldwide under the gold standard, to the current system of national currencies and a system of partial barter across borders, as Hoppe calls it, must be the most destructive example of technological regression in human history.
Foreign Exchange markets trade 25x world GDP purely as a result of this technological regression. Economic calculation falls apart across borders when the units in which it is conducted are constantly varying. Monetary policy becomes an issue of international politics.
All the goals of international economic policy, which the IYIs at the IMF & BIS get paid to concern troll about achieving, emerged spontaneously under the gold standard & would emerge freely under a bitcoin standard, because these are free market systems & not centrally planned.
My book has a chapter dedicated to discussing the disastrous idea that is national money and why it's infinitely inferior to a global free market monetary standard.
amazon.com/Bitcoin-Standa…
amazon.com/Bitcoin-Standa…
