How Easy Money Is Destroying Civil Liberties
“Giving money and power to government is like giving whiskey and car keys to teenage boys.” – P.J. O’Rourke Q1 2021 hedge fund letters, conferences and more The Dark Side of QE InfinityLast week I wrote about how ultra easy monetary policy is destroying personal wealth, distorting markets and causing governments to do dumb things. When you give a government infinite access to money, money itself ceases to be a measure of value. Without that measure, the state has no way of prioritising and no sense of proportion, leaving vested interests and personal biases to run amok. There are many nasty co...