Money and Banks

From the dollar to bitcoin to Facebook's Diem, private monies and quasi monies are making the monetary landscape a lot more complicated.

Americans have benefited mightily by holding and trading with the world’s reserve currency, though most people haven’t given it a thought. No one remembers when the pound sterling held this distinction a hundred years ago. 

From the dollar to bitcoin to Facebook's Diem, private monies and quasi monies are making the monetary landscape a lot more complicated. 

A store of value is not necessarily a medium of exchange, and in our current fiat money system, gold is not money. But it has most of the desirable properties of money, and there is much to learn form the process of how it became money in the past.

As a result of past reckless fiscal and monetary policies the pool of real wealth could be declining. If so, stagflation will result.

A store of value is not necessarily a medium of exchange, and in our current fiat money system, gold is not money. But it has most of the desirable properties of money, and there is much to learn form the process of how it became money in the past.

As a result of past reckless fiscal and monetary policies the pool of real wealth could be declining. If so, stagflation will result. 

Mises's firm anti-inflation view—and his recommendation for a return to sound money (that is, free market money)—rested on his awareness of the disastrous consequences of an inflationary policy.

Rothbard: "At the outset of every step forward on the road to a more plentiful existence is saving….Without saving and capital accumulation there could not be any striving toward nonmaterial ends."

Mises's firm anti-inflation view—and his recommendation for a return to sound money (that is, free market money)—rested on his awareness of the disastrous consequences of an inflationary policy