Money and Banks

If wealth could be created out of scraps of paper or their digital equivalent, world poverty would be a thing of the past. Remember, the commodity money takes care of itself—and us too, if we let it.

MMT and chartalism claims that money is a creature of the state and is valued because of state action. The fact that tobacco acted as colonial money independently of the state demonstrates this to be false.

MMT uses chartalism and a few dubious examples to appeal to history to establish the theory‘s authority and validity, only to discard this element as irrelevant and unnecessary.

MMT uses chartalism and a few dubious examples to appeal to history to establish the theory‘s authority and validity, only to discard this element as irrelevant and unnecessary.

Government protection and deposit insurance slows the inevitable—until it doesn’t.

The MMT crowd now claims that the monetary history of the US is an example of chartalism. US history is actually an example of the opposite.

This slim book engagingly written encapsulates the basic lessons of money and of how it is deformed by government and central banking in a magical story that will charm and enlighten young readers.

Fiat money and state coercion have prevented us from seeing the threat to our well-being that would be apparent with sound money and true liberty.

Some economists fear that excessive government debt will lead to an economic crisis and recession. However, the real threat to the economy is Federal Reserve-supported fractional reserve lending that helps to set off an unsustainable boom.

Our current paper fiat money system comes from a long process of building up state power that destroyed private money, ended truly private banking, and abolished the market system of competing currencies. It took 300 years, and we are now facing the inflationary results.