Quarterly Journal of Austrian Economics
Author:
Nikolay Gertchev
Online Publish Date:
Volume 5, No. 4 (Winter 2002) The authors argue that a currency board is a creation of the state, aiming at granting particular political favors,and purposefully designed to secure the reappearance of an independent domestic money producer. A currency board establishes a foreign fiat money standard enforced by legal tender laws for its bank