From an economic point of view, the current state of monetary affairs in this world is rather unsatisfactory, to put it mildly. Our fiat monies are inflationary, socially unjust, they cause crises and lead to over-indebtedness, and they allow the states to become bigger and more powerful – at the expense of civil and entrepreneurial freedoms and liberties. And don’t we forget: Fiat money is the money of war. It is against this backdrop that there are important lessons that can be learned from Hayek’s “Denationalisation Of Money”. A free market in money will end chronic inflation, money-driven boom & bust and their economic and financial crises; it will prevent states from spinning out of control, it will preserve and restore, individual liberties and freedoms, enhance the wealth of the nations, make the world more peaceful. I hope my remarks encourage and inspire you, increase your in Hayek’s idea of “denationalising money”, in creating a free market in money.

A talk held by Thorsten Polleit, Freedom Week 2024, Adam Smith Institute & Institute of Economic Affairs, Cambridge University, 23 Aug '24.

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Thorsten Polleit’s latest books can be found here:

“Des Teufels Geld”, www.amazon.de/Teufels-Geld-faust…hren/dp/3959727437

“The Global Currency Plot”, mises.org/library/global-currency-plot

“So act that your principle of action might safely be made a law for the whole world.”

| Immanuel Kant (1724–1804)