Bulgarians are already feeling the consequences of Bulgaria’s FORCED ADOPTION of the euro.
Inflation SURGED to 3.9%/yr in March from 3.3%/yr in February.
As the Father of Bulgaria’s currency board, the inflation surge is exactly what I said would happen.
August 15, 1971: Nixon sits in the Oval Office, preparing to deliver the most economically destructive speech in American history. His advisors nervously shuffle papers as he rehearses lines about "temporary" measures to protect the dollar.
What they called the "Nixon Shock" was really the death of economic calculation itself. By severing the last link between money and gold, Nixon didn't just close a "window" - he obliterated the pricing mechanism that had guided human cooperation for millennia.
Today's inflation, boom-bust cycles, and financial chaos all trace back to that Sunday evening when one man's signature turned money into mere paper. The "temporary" measure is now in its 53rd year.
In 1936, Keynes famously wrote that paying people to dig holes and fill them back up would boost the economy. Meanwhile, French economist Bastiat was spinning in his grave, having warned a century earlier about the "broken window fallacy" - the illusion that destruction creates wealth.
When New Deal programs put thousands to work building bridges to nowhere, Keynesians cheered the employment statistics. But they ignored what Bastiat called "the unseen" - the private investments never made, the businesses never started, the innovations never pursued because capital was diverted to government make-work.
Today's politicians still invoke Keynesian magic, claiming every trillion in deficit spending creates prosperity. They see the government jobs, the infrastructure projects, the GDP bump.
They don't see the entrepreneur who couldn't get a loan, the startup that never launched, or the future growth sacrificed for today's political theater.
Of course Epstein tried to control bitcoin. The entire point of bitcoin is that he can't.
This isn't the dollar or gold; there are no demented pedophiles in charge to blackmail.
If you sell the money he can't control for the one he controls, have fun staying a slave of pedos!