Yesterday’s WSJ featured an excellent piece by Father Robert Sirico (a Catholic priest who has learned more about economics on his own than most econ professors know) on a recent Vatican document which shows a glimmering of understanding about fiat money and the manipulation thereof by politicians.
While the document shows a glimmering of understanding, Father Sirico expands upon it, showing how fiat money harms most people. If you scroll down into the comments, you’ll find some utterly closed-minded drivel from statists who just KNOW that returning to gold-backed money would be backward.
