When Ronald Reagan was elected president for his first term in 1980, he received strong support from the so-called Sagebrush Rebels. The Rebels wanted lands owned by the federal government to be transferred to state governments. Steve Hanke Read Quote
Contrary to what most people think, bank money is much more important than state money. In Greece, for example, bank money makes up 84.26% of the total money supply. Steve Hanke Read Quote
Following Greece’s defeat at the hands of Turkey in 1897, Greece’s fiscal house was entrusted to a Control Commission. During the 20th century, the drachma was one of the world’s worst currencies. It recorded the world’s sixth highest hyperinflation. In October 1944, Greece’s monthly inflation rate hit 13,800%. Steve Hanke Read Quote
The most important lesson to take away from allowing the minimum wage and unemployment benefit data to talk is that abstract notions of what is right, good and just should be examined from a concrete, operational point of view. A dose of reality is most edifying. Steve Hanke Read Quote
There has never been a failure of a currency board anywhere in the world. These are tough systems, and when I say they are foolproof, that’s exactly the case. Steve Hanke Read Quote
If you squeeze and squeeze, and you don’t allow the Iranians to sell any oil, then what do they have to lose by shutting the Strait of Hormuz down? And if they do that, that’s 35% of all the world’s oil that comes through the strait and 20% of the liquefied natural gas in the world. Steve Hanke Read Quote
Sanctions historically are quite counterproductive in the sense that if you impose sanctions on your enemy, it tends to strengthen your enemy. Steve Hanke Read Quote
In April 2013, Nathaniel Popper of ‘The New York Times’ reported on Bitcoin in an article titled, ‘Digital Money is Gaining Champions in the Real World’. Steve Hanke Read Quote
Following its recognition as a state in 1832, Greece spent most of the remainder of the 19th century under the control of creditors. The pattern started with a default in 1832. In consequence, Greece’s finances were put under French administration. Steve Hanke Read Quote
