dollar construction

Who Bears the Burden of Dollars’ Falling Purchasing Power?

– August 4, 2020

“Inflation is not a one-trick pony, with an easily predictable outcome. Rather, it does several things at the same time. Looking at claims like the eradication of a dollar’s purchasing power is misleading: it is not the case that inflation has ripped off savers by eradicating 97% of their savings’ worth.” ~ Joakim Book


The Fed’s Liquidity Confusion

– July 14, 2020

“Fed lending to nonbank companies and municipalities is not liquidity provision; it’s credit allocation. It’s an area in which the Fed should not be involved.” ~ Thomas L. Hogan

piggy bank

What Can Be Done to Remedy the Coin Shortage?

– July 8, 2020

“The US Mint could focus all of its resources on producing dimes and quarters, not silly pennies. This would put an end to the US’s coin shortage, almost immediately.” ~ J.P. Koning

Federal Reserve of New York 1922

It’s Time to End the Fed’s Dual Mandate

– June 7, 2020

“The choice before us is simple: a central bank that is highly restricted, and therefore effective and independent, or one that is dominated by short-run political concerns, and therefore incompetent and subservient.” ~ Alexander Salter

It’s Time for a Taxpayer Debit Card

It’s Time for a Taxpayer Debit Card

– June 4, 2020

“Distributing EIP cards instead of checks should reduce the government’s costs of paying relief, speed up the payments pipeline, and provide Americans with a cheaper way of accessing funds than going to check cashing outlets.” ~ J.P. Konig


Cash Is King in COVID-19

– April 2, 2020

We’re still early in this crisis, so who knows what patterns in cash demand will emerge. But for now, cash is filling its normal role as alleviator of uncertainty. To cope with the turmoil, people are withdrawing a bit more of the stuff. And that’s fine!