Steve Hanke

Following Greece's defeat at the hands of Turkey in 1897, Greece's fiscal house was entrusted to a Control Commission. During the 20th century, the drachma was one of the world's worst currencies. It recorded the world's sixth highest hyperinflation. In October 1944, Greece's monthly inflation rate hit 13,800%.

Although floating and fixed rates appear dissimilar, they are members of the same freemarket family. Both operate without exchange controls and are free-market mechanisms for balance-of-payment adjustments.

The government would be able to go to court with respect to newspaper articles, broadcast pieces and the like that they thought were bad or harmful or even against the government and try to block them.

On April 1, 1998, I launched Webmaster-Resources.com, and I remember that date specifically because it was the date that the price of a two-year domain name registration dropped from $100 to $70, and considering I was funding this out of my allowance, that $30 made all the difference.