Dear Readers,
Fiat currencies are enormously wasteful. They incentivize companies, governments, and individuals to take out massive debts that they frequently can’t pay back. They can also be printed by governments and banks at any time, stealing massive quantities of wealth from the billions of people who are forced to use them day in and day out.
There’s one aspect of fiat-based excess that doesn’t get talked about frequently because it isn’t well understood: governments have an unlimited ability to fund their pet projects through fiat, no matter the costs to society at large.
In today’s newsletter, I hope to pull back the curtain a bit on the true costs of one government pet project: renewable wind energy.
