The IMF is set up to deal with liquidity crises.

Why is it so hard for the IMF and the U.S. government to understand that putting out the fire comes before fireproofing the building?

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.

In January 2013, one could buy a Bitcoin for about $13. By late November, one Bitcoin would have set a buyer back over $1100.

In 2008, Bitcoin was mysteriously introduced to the world in an obscure, technical paper written under the pseudonym Satoshi Nakamoto. By late 2013, the financial press was filled with reportage on Bitcoin and its dramatic price increase.

A minimum wage leads to higher levels of unemployment.