Money and Banking

The fewer non-productive bubble activities we have, the better it is for those activities that actually crate wealth. But attempts to reverse deflation with new money creation only create new bubbles.

Abenomics, Japanese Keynesianism on steroids, has made the rich richer, and all others poorer. 

It is no coincidence that the century of total war coincided with the century of central banking.

Politicians, who claim that a week in politics is the long term, fail to see any problem.

Central bankers are claiming that a global savings glut is driving down the "natural" interest rate to negative levels. They're wrong.

The repo crisis — and it is a crisis — is telling us that liquidity providers are aware that the price of money, the assets used as collateral and the borrowers’ ability to repay are all artificially manipulated. 

Saifedean Ammous explains why Austrian economics helps us understand Bitcoin, and how Bitcoin can help us understand Austrian economics.

Without a turn toward hard money, the odds are that the world’s dependence on the Greenback will not decline but presumably grow even more in the years to come.

The depreciation of the yuan since 2014 is more of a response to market movements than a planned devaluation to gain competitiveness illegitimately.

In a true market — i.e., without a central bank — banks are intermediaries of real savings in their lending activities, thus promoting genuine and real economic growth.