Money and Banks

Bob breaks down the mechanics behind how commercial banks create money out of thin air—and why that power fuels economic booms and busts.

Werner’s experiment is dubious at best. He strawmaned the alternative theories and set up the experiment in such a way that only his preferred theory would be confirmed.

In most of the world, inflation is no longer an exception, it is the rule. Official inflation targets of 4 percent, 5 percent, or even 6 percent per year have become normalized.

In most of the world, inflation is no longer an exception, it is the rule. Official inflation targets of 4 percent, 5 percent, or even 6 percent per year have become normalized.

Thanks to modern Keynesian economics, most people believe money gains its value from the government that issues it. Money's value, however, is historically tied to the value of the commodity from which money was derived.

Thanks for modern Keynesian economics, most people believe money gains its value from the government that issues it. Money's value, however, is historically tied to the value of the commodity from which money was derived.

Bob Murphy and Jonathan Newman offer a comprehensive Austrian response to Richard Werner’s claims on the Tucker Carlson Show about banks, money creation, and credit theory.

Abraham Lincoln is best known for his role as a wartime president, but his economic policies were a precursor to the New Deal. From railroad subsidies to a national banking system, Lincoln paved the way to the Progressive Era and beyond.

The Federal Reserve is not the only central bank in the world doing monetary and economic damage. Portugal‘s central bank—working as a branch of the European Central Bank—has been undermining sound money and economic prosperity in that country.

The Federal Reserve is not the only central bank in the world doing monetary and economic damage. Portugal's central bank, working as a branch of the European Central Bank, has been undermining sound money and economic prosperity in that country.