Money and Banking

Money proper is not artifice. It is a physical "thing" of value, acquired through labor and emerging out of the needs of individuals, who through voluntary exchanges determine its value.

The story of the failure of Silicon Valley Bank is the story of nearly every bank failure. Fractional reserve banking invites the risky behavior that brings down the banking system.

The story of the failure of Silicon Valley Bank is the story of nearly every bank failure. Fractional reserve banking invites the risky behavior that brings down the banking system.

The FDIC's takeover of Silicon Valley Bank should make us take a hard look at the damage the Federal Reserve has done. Will other banks face the same fate?

People are innovative—if government doesn't get in the way. Entrepreneurs in developing countries find alternatives for people cut off from commercial banking services.

We're still living with the consequences of the massive monetary inflation by Trump and Biden. Prices are stubbornly high, and falling real wages are driving Americans to say things are getting worse.

Money is simple. The political program of monetary "policy" is not.

Measures of the U.S. money stock in current use are flawed precisely because they are not based on an explicit and coherent theoretical conception of the essential nature of money.

No matter the historical era, governments have excelled at one thing: debasing their own currency. Rome was no exception, as Roman government excesses required inflation—lots of inflation.

The fiat monetary system is slowly breaking down, taking the economy with it.