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Peter St. Onge



Articles by Peter St. Onge

No, Dogecoin Does Not Compete with Bitcoin

May 5, 2021

Medium of exchange and store of value are very different products. Original Article: “No, Dogecoin Does Not Compete with Bitcoin​​” This Audio Mises Wire is generously sponsored by Christopher Condon. Narrated by Michael Stack.  

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No, Dogecoin Does Not Compete with Bitcoin

April 24, 2021

Elon Musk’s dogecoin tweets have given the coin a nice run, sending its price from fractions of a penny—where it traded for roughly 8 years—to 40 cents on April 20th before falling back. It was enough to yank bitcoin skeptic Peter Schiff from watching his gold portfolio do nothing—also for roughly 8 years—to crow that …

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The Left Understands Taxation Is Theft, That’s Why They Support It

April 22, 2021

It’s nice to know we all agree that taxes have nothing to do with civilization. They are for destroying with a side of discriminatory punishment. Original Article: “The Left Understands Taxation Is Theft, That’s Why They Support It” This Audio Mises Wire is generously sponsored by Christopher Condon. Narrated by Michael Stack.  

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Critics Claim Bitcoin Is a Threat to the Environment. They’re Wrong.

April 12, 2021

One popular critique of bitcoin is energy cost per transaction. This doesn’t begin to capture bitcoin’s massive energy savings compared to fiat currency. Bitcoin’s cost per transaction is well known, and often critiqued; one article in Wired magazine called bitcoin “[a] big middle finger to earth’s climate.” This is because bitcoin’s security, redundancy, and architecture are more …

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If Deficits Don’t Matter, Why Bother with Taxes?

March 30, 2021

If deficits don’t matter, why bother with taxes? The regime has the answer: taxes are important for punishing people we don’t like, rewarding our friends, and for maintaining control over the public.  Original Article: “If Deficits Don’t Matter, Why Bother with Taxes?” This Audio Mises Wire is generously sponsored by Christopher Condon. Narrated by Michael …

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If Deficits Don’t Matter, Why Bother with Taxes?

March 25, 2021

On March 18, Joe Wiesenthal of Bloomberg Markets had MMT economist Stephanie Kelton on the show. If you’re not familiar with modern monetary theory, they think governments should print more money because deficits aren’t a big deal. At one point in the show, Wiesenthal asked, “If we don’t need to worry about deficits, why do …

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How to Limit Social Media’s Power Without Growing Government

October 30, 2020

Censorship by private companies is a topic that divides free marketers but has suddenly become important in the wake of Twitter and Facebook’s recent attempts to squash a New York Post story alleging corruption in the Biden family. Last year, economist James Miller argued that just as the power company can’t turn off your electricity for being a Trump supporter, social media companies shouldn’t be able to silence you for your political opinions. Others have argued that companies can silence whomever they like because it’s their company. This is a red herring that misses the fact that reform would actually reduce government intervention by narrowing something called Section 230 immunity.
First, what free marketers agree on:

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How to Limit Social Media’s Power without Growing Government

October 29, 2020

Doing what we can to help narrow Section 230 immunities back to a free speech interpretation could solve this while actually reducing government involvement in speech. This Audio Mises Wire is generously sponsored by Christopher Condon. Narrated by Millian Quinteros. Original Article: “How to Limit Social Media’s Power without Growing Government”.

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How to Limit Social Media’s Power without Growing Government

October 27, 2020

Censorship by private companies is a topic that divides free marketers but has suddenly become important in the wake of Twitter and Facebook’s recent attempts to squash a New York Post story alleging corruption in the Biden family. Last year, economist James Miller argued that just as the power company can’t turn off your electricity for being …

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The COVID-19 Panic Shows Us Why Science Needs Skeptics

July 24, 2020

Every major scientific advance challenged the “settled science” of its day and was often denounced as pernicious and false, even dangerous. This Audio Mises Wire is generously sponsored by Christopher Condon. Narrated by Millian Quinteros. Original Article: “The COVID-19 Panic Shows Us Why Science Needs Skeptics​​”.

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The COVID-19 Panic Shows Us Why Science Needs Skeptics

July 15, 2020

The dumpster fire of COVID predictions has shown exactly why it’s important to sustain and nurture skeptics, lest we blunder into scientific monoculture and groupthink. And yet the explosion of “cancel culture” intolerance of any opinion that doesn’t fit a shrinking “3 x 5 card” of right-think risks destroying the very tolerance and science that …

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The Fed Has Gone Nuts. And It Can Get Worse.

April 27, 2020

With its $700 billion bond-buying expansion in response to the COVID crisis, the Federal Reserve has thrust itself into the limelight. Like a sixteen-year-old with a credit card, the Fed is salivating over what money-printing powers it shall seize next. How is the prudent investor to respond? First, what the Fed’s already done: pushed interest rates …

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What Gives Cryptocurrencies Their Value

December 1, 2017

The value of cryptocurrencies like bitcoin, just like any other kind of money, comes fundamentally from what you can do with it. As a follow up to What Backs Bitcoin, I want to dig into that value.The idea, which comes from Austrian economist Carl Menger, is that just as a shovel’s value comes from its ability to dig, a currency’s value comes from its ability to help you do two things: transactions and savings.Think of transactions as the money you carry in your wallet or checking account, and savings as the rest of what you have in the bank or buried in the yard. It’s worth mentioning here that that vast majority of money demand is indeed savings, making up 90% or more of all money demand.The reason this matters is because if we know what transactions cryptocurrencies are

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Is Population Decline Catastrophic?

October 23, 2017

Reprinted from Mises.org
In the 1970’s we heard the earth was going to get so crowded we’d be falling off. Now the panickers have flipped to population decline. They were wrong in the 70’s, so are they wrong again? Is a declining population catastrophic?
Countries from Germany to Japan are investing in mass immigration or pro-birth policies on the assumption that they must import enough warm bodies to stave off economic collapse. I think this is mistaken. Falling population on a country level is certainly no catastrophe and, indeed, may be positive. I’ll outline some reasons here.
Historically, the first question is why population declined. If it’s the Mongols invading again then, yes, the economy will suffer. Not because of the death alone, but because wholesale slaughter tends to destroy

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Is Population Decline Catastrophic?

October 3, 2017

In the 1970’s we heard the earth was going to get so crowded we’d be falling off. Now the panickers have flipped to population decline. They were wrong in the 70’s, so are they wrong again? Is a declining population catastrophic?Countries from Germany to Japan are investing in mass immigration or pro-birth policies on the assumption that they must import enough warm bodies to stave off economic collapse. I think this is mistaken. Falling population on a country level is certainly no catastrophe and, indeed, may be positive. I’ll outline some reasons here.Historically, the first question is why population declined. If it’s the Mongols invading again then, yes, the economy will suffer. Not because of the death alone, but because wholesale slaughter tends to destroy

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¿Es catastrófica la disminución de la población?

October 3, 2017

Lea esto en Español
En la década de 1970 oíamos que la tierra iba a estar tan poblada que no cabríamos todos. Ahora los vendedores de pánico se han cambiado a la disminución de la población. ¿Se equivocaban en los 70, así que están equivocando de nuevo? ¿Es catastrófica una disminución de la población?Países como Alemania y Japón están invirtiendo en inmigración masiva o políticas de natalidad, suponiendo que deben importar suficientes cuerpos como para evitar el colapso económico. Creo que se equivocan. La población en disminución a nivel de país indudablemente no es una catástrofe y, de hecho, puede resultar positiva. Daré aquí algunas razones.Históricamente, la primera pregunta era por qué disminuía la población. Si era porque los mongoles volvían a invadir, sí, la

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