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

Commercial Habits and Pandemics

– March 24, 2020

Historian William Hutton recounts how country-folk were often too afraid to enter villages filled with potentially sick customers. Instead, they would bring their merchandise to the plague stone, usually set up on the outskirts of a town.

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The Best-laid Plans Often Go Astray, Even for Macroprudential Regulators

– March 24, 2020

The problem with this comment is its failure to be the least bit realistic. It ignores a basic fact: whatever plans regulators have in place for a financial crisis or for a pandemic causing financial distress or some other event causing financial distress–any plan, that is–will be wrong in important ways.

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Coronavirus Lockdowns: When Will They End?

– March 23, 2020

There is no evidence that these grave consequences are being considered in a serious way. Instead, presentations tend to focus on technical issues and avoid the widespread suffering that soon will overwhelm many in the United States.

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Judy Shelton Is Right: The Fed Is Lawless

– March 7, 2020

Judy Shelton, President Trump’s nominee to the Federal Reserve board, got little love in her pre–Valentine’s Day confirmation hearing. (Shelton was previously the director of the Sound Money Project, prior to its moving to AIER.) Regardless of what cri …

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The Fed Cannot Combat Coronavirus

– March 5, 2020

At a campaign speech on February 29, Senator Elizabeth Warren (D-Mass.) introduced her economic plan for combating COVID-19, more commonly known as the coronavirus.  The Warren plan has two elements. First, it calls for “a major targeted fiscal st …

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Federal Reserve Codependence with Government Debt

– March 5, 2020

For those familiar with the structure of quantitative easing, Bernanke’s claim to noble behavior by the Federal Reserve in its program of quantitative easing causes no small amount of cognitive dissonance.

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Bootleggers, Baptists, and Banking

– March 4, 2020

Big tech giants like Amazon, Google, and Facebook are trying to enter the banking business. But they’re facing stiff resistance from a number of sources.

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The $1 Coin: World’s Worst Monetary Idea

– March 2, 2020

There are a lot of bad monetary ideas floating around. Few are as awful as the American one-dollar coin, however. Despite almost fifty years of existence, the $1 coin has perennially failed to gain currency in the US.

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The Coronavirus Reveals the Limits of Monetary Policy

– March 2, 2020

There is a growing buzz in the media that the Federal Reserve and other central banks should provide support due to any slowdown that accompanies the coronavirus.

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Banking the Unbanked: Lessons from the Developing World

– February 29, 2020

Access to financial services, or “financial inclusion,” has long been recognized as a critical step towards escaping poverty. Having a bank account enables people to protect their savings, diversify risk, lower transaction costs and access credit …

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Why Is Maduro Pushing the Petro?

– February 20, 2020

Why would the Venezuelan government prefer the petro? Three reasons stand out.

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Dollarization in Ecuador after 20 Years

– February 18, 2020

In January, Ecuador celebrated its 20th anniversary of dollarization. The Bastiat Society of Guayaquil and the Instituto  Ecuatoriano de Economia Política organized a conference to discuss the pros and cons of Ecuador’s monetary regime. Internatio …

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