John Paul Koning

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John Paul Koning works in the financial industry. He also designs wall charts, available at Financial Graph & Art.

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How the Fed Helped Pay for World War I

The FedWar and Foreign PolicyMonetary TheoryMoney and Banking

02/12/2021Mises Daily ArticlesJohn Paul Koning

Just as kings debased coins to help pay for their wars, the Fed used inflation to help pay for US participation in World War I. It did so by creating and issuing dollars in return for government debt.

High-Frequency Trading: Menger vs. Walras

Financial Markets

03/08/2012Mises Daily ArticlesJohn Paul Koning

While Carl Menger and Léon Walras simultaneously discovered the principle of marginal utility, their ideas about the nature of market prices are very different.

The Losing Battle to Fix Gold at $35, Part II

Big GovernmentFree MarketsWorld HistoryGold Standard

03/31/2009Mises Daily ArticlesJohn Paul Koning

Much like the US's decision to save Bretton woods by coercing South African gold sales, today's governments will resort to ever more authoritarian measures rather than allowing their pet institutions to fail.