Money and Banks

Presented at Jekyll Island, Georgia, in September 1986.

Presented at Jekyll Island, Georgia, in September 1986.

In his new book The Bitcoin Standard, Saifedean Ammous displays a fine understanding of money, and also a good grasp of how currencies like Bitcoin could revolutionize the government-dominated banking sector.

Politicians, who claim that a week in politics is the long term, fail to see any problem.

Economic growth comes from the accumulation of real wealth — which is necessary to produce more goods and services.

A return to a system of 100% bank reserves is anything but radical. It would be quite conservative, prudent, and sensible.

Central bankers are claiming that a global savings glut is driving down the "natural" interest rate to negative levels. They're wrong.

As Zimbabwe's economy worsens, its government now insists residents start using easily-inflated local currency again. This is sowing the seed of another devastating episode of hyperinflation.

MMT “is a mix of old and new, the old is correct and well understood, while the new is substantially wrong.”

Some people — including Donald Trump — think the dollar is too strong, and many propose the creation of a new version of the Plaza Accord, i.e., a multilateral agreement that includes coordinated intervention in foreign exchange markets.