Money and Banking

The weak dollar was a subsidy for the oil industry, but as Hazlitt noted, they make “the industries in which we are comparatively inefficient larger, and the industries in which we are comparatively efficient smaller.”

Is the Coast Clear? I don't think so.

Joseph Salerno Interviewed on Gold Standard, Fiat Money...

Milton Friedman once compared monetary stimulus to daylight saving time. But while daylight saving has an ending date, current monetary stimulus has no end in sight, and we’re just moving the clock ahead repeatedly without ever moving it back.

An out of print (1991) publication of the Federal Reserve Bank of Chicago provides an excellent summary of Fed money mechanics.

I am interviewed on Power Trading Radio about the Skyscraper Curse and Cyber Security Issues—Biggest Bank Heist in History!

Reserve currencies serve an important economic purpose. If the dollar loses its status as a reserve currency, the resulting adjustments will be painful for many. So, the global economy would benefit from a new US monetary policy devoted to a sound dollar.

True credit can only expand if the stock of real savings and real wealth expands. Unfortunately, fractional reserve banking and central banks facilitate the expansion of false credit which diverts resources from true wealth producing activities.

The Europeans have decided to limit funding and credit extended to the Greeks. This puts the Greek financial system under pressure, but there are free-market solutions that could set the Greeks on the path to a sound economy.

The Europeans have decided to limit funding and credit extended to the Greeks.