Money and Banks

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David Gordon

Bob Murphy provides the “intelligent layperson a concise yet comprehensive overview of the theory, history, and practice of money and banking, with a focus on the United States.”

Friedrich A. Hayek

Legal tender laws create special privileges for government money. That kills true currency competition and favors the state's monopoly power.

Douglas French

Monetary inflation results in a general rise in prices, often called "price inflation." But rising prices are not always "inflation." In any case, more government regs and subsidies won't help.

Joseph Solis-Mullen

In its effort to patch together a working financial system out of postwar crises, the Federal Reserve would wildly exceed its mandate, flooding the world with dollars.

Ryan McMaken

Thanks to vast regulatory powers, regimes have many tools and many advantages in propping up fiat currencies when faced with competition from other currencies. 

Brendan Brown

After many months of covid stimulus, there's a bonanza in US pandemic profits. But unlike price inflation, these profits really are likely to be transitory.

Ryan McMaken

When we ask ourselves the question, “Can states survive without fiat currency?” the answer is clearly yes.