Monetary Theory

Milton Friedman and all monetarists after him claimed that the Gold Standard had a fatal flow. The Gold Standard required that gold be dug up, refined and then made into coins or stored away in vaults to back paper money in circulation. Therefore this gold was expensive and could not be used in...

David Kramer on Bitcoin—Just Another Bogus Medium of Exchange

I’m sure by now many of you have heard about Bitcoin. The fact that it’s called “virtual currency” gives

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For 94 years, Americans were supposed to be awed and bored by the central bank, and pay no real attention to the greatest counterfeiting machine in the history of the world. Yet Ron has made an issue, and a huge one, out of the Federal Reserve and its destructivism and business cycles. Last...

From today's New York Times:

Three of the nation's largest banks, working together at the behest of the Treasury Department, announced this morning that they were creating a large fund to serve as a buyer of bonds and other debt at a time when many investors are avoiding...