The Sound Money Project was founded in January 2009 to conduct research and promote awareness about monetary stability and financial privacy. The project is comprised of leading academics and practitioners in money, banking, and macroeconomics. It offers regular commentary and in-depth analysis on monetary policy, alternative monetary systems, financial markets regulation, cryptocurrencies, and the history of monetary and macroeconomic thought. For the latest on sound money issues, subscribe to our working paper series and follow along on Twitter or Facebook.

Advisory Board: Steve H. Hanke, Jerry L. Jordan, Lawrence H. White
Director: William J. Luther
Senior Fellows: Nicolás Cachanosky, Gerald P. DwyerJoshua R. Hendrickson, Thomas L. Hogan, Gerald P. O’Driscoll, Jr., Alexander W. Salter
Fellows: James L. Caton, J.P. Koning

“Giving the Fed New Powers Ignores History”

– March 17, 2010

“The Fed’s own origins are evidence for this point. It is usually argued that the Fed was created to avoid the banking crises that plagued the United States in the late 19th century. That is true to an extent. What it misses is that those crises were t …

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“Competitve Currencies, Legal Restrictions and the Origins of the Fed”

– March 17, 2010

“In the last several years, economists have produced numoerous studies examining both the theoretical operations and historical manifestations of unregulated banking systems. Recent examples of historical investigations are the studies by L. White (47) …

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“Sound Money: The Impossible Dream?”

– March 16, 2010

“Our gold standard money didn’t fail us in 1913; it was murdered. Did it deserve to die? What was its crime? It had provided us with nothing less than relative peace and prosperity over a span of 136 years. It had not only retained one hundred percent …

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“More Muscle to Fed”

– March 15, 2010

“Mr. Dodd’s bill would allow the Fed to examine any bank-holding company with more than $50 billion in assets, and large financial companies that aren’t banks could be lassoed into the Fed’s supervisory orbit. This came after Treasury officials pushed …

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The Global Debt Crisis

– March 12, 2010

Recent developments have clearly demonstrated that “there is no such thing as a Keynesian free lunch.” The grim story of fiscal crises afflicting major economies is something that should not be taken lightly. It could happen sooner than most people think if the governments of the US and other debt-ridden countries don’t get their fiscal houses in order.

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Getting to the Bottom?

– March 12, 2010

On Wednesday, March 10, a Wall Street Journal article announced that the Financial Crisis Panel will be convened in early April with Alan Greenspan as the center act. According to the article, “The hearing will focus on the explosion of subprime mortga …

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“Gold and Economic Freedom”

– March 11, 2010

“An almost hysterical antagonism toward the gold standard is one issue which unites statists of all persuasions. They seem to sense – perhaps more clearly and subtly than many consistent defenders of laissez-faire – that gold and economic freedom are i …

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Trust, like reputation is hard to earn, but easy to lose

– March 10, 2010

“Trust is similar in its fragility.  At the individual level, of course, these two concepts (reputation and trust) are inter-related.  We trust those who have a trustworthy reputation, and we don’t trust those who are known to be untrustworthy.  Once b …

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“Monetary Policy and the Free-Market Economy”

– March 10, 2010

“Let me say first that I believe in the benefits conferred by the free market as strongly as anybody in this country: nobody, anywhere, has yet devised a way of organising economic activity which comes close to the free market as a way of efficiently p …

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The Transmission Mechanism of Monetary Policy

– March 10, 2010

“Economists do not agree about how monetary policy affects the economy. Different observers weigh in different ways the various specific channels through which monetary policy works. Views diverge even about the monetary transmission process in individ …

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Monetary Policy Operating Procedures

– March 10, 2010

“This work provides an overview of monetary policy operating procedures in emerging market economies. Most of the discussion reflects the situation in mid-1998. The emphasis is on general principles although in practice country-specific factors conditi …

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Honest Money

– March 10, 2010

“There is a debt crisis in the making. It is international. Every industrial nation on earth faces a crisis that could dwarf the crisis of the 1930’s. The banks of the world have done the bidding of the politicians, and they have loaned hundreds of bil …

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