Sound Money Project


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. The Sound Money Project also hosts an annual essay contest. 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. JordanGerald P. O’Driscoll, Jr., Lawrence H. White
Director: William J. Luther
Senior Fellows: Gerald P. DwyerJoshua R. Hendrickson
Fellows: Scott A. Burns, James L. Caton, Nicolás Cachanosky, Judge GlockAlexander W. Salter
Contributors: Brian C. Albrecht, J.P. Koning

Thursday, February 11th, 2010
"The volume of mortgages written back then Stunned imaginations. In a single quarter in 2003, A trillion in originations! But something happened late that year That caused long rates to rise. And that was the end of the refi boom. It came as quite a surprise."
Wednesday, February 10th, 2010
"It is largely a myth that unregulated financial capitalism failed and new regulation is needed. Aside from health care, financial services is the most heavily regulated industry in the economy.
Tuesday, February 9th, 2010
"To alleviate the global recession, the G-20 group of nations recently agreed to authorize the International Monetary Fund to allocate $250 billion worth of Special Drawing Rights — the IMF's unit of account — to its member states.
Monday, February 8th, 2010
"After a month of wrangling, Argentine President Cristina Kirchner succeeded in sacking central bank President Martin Redrado last week.
Friday, February 5th, 2010
"We are now more than two years into the Great Recession, which began in December 2007. In the Great Depression, this was the point where the Fed decided to raise interest rates to keep the dollar from depreciating (after Britain left the gold standard.) Mr. Bullard of the St.
Wednesday, February 3rd, 2010
"As policymakers confront the ongoing U.S. financial crisis, it is important to take a step back and understand its origins.
Monday, February 1st, 2010
"This Policy Analysis explains the antecedents of the current global financial crisis and critically examines the reasoning behind the U.S. Treasury and Federal Reserve's actions to prop up the financial sector.
Friday, January 29th, 2010
"China hopes cooling the pace of lending will keep its economy growing without creating inflation and overheating." See the CNN video here.
Thursday, January 28th, 2010
"Federal Reserve Chairman Ben Bernanke has explained his exit strategy to prevent future inflation. The Fed recently began to pay interest to banks on the reserves they hold in their vaults.
Wednesday, January 27th, 2010
"A history of the Federal Reserve is a history of the decisions made and the ideas that prompted them. The chapters that follow allow the participants to explain their action and the reasons for them, in their own words.
Tuesday, January 26th, 2010
"Prices rise soonest, fastest, and highest where the money is being loaned out. During the realestate boom until 2007, much of the lending went to real estate, and land values zoomed up.
Monday, January 25th, 2010
"In all countries of the so-called 'free world,' money represents nowadays a government controlled irredeemable paper, or 'fiat,' money standard.
Friday, January 22nd, 2010
The Obama administration thinks it has found the cure all for its economic woes. The solution: regulate, restrict and play God in the economy.
Thursday, January 21st, 2010
"The U.K.'s economic policy puzzle just got harder. Inflation was expected to rise in December, but not by a full percentage point to 2.9%. That is well above market expectations of 2.6% and the Bank of England's forecast of about 2.7%.
Thursday, January 21st, 2010
"Examples of the move from piecemeal to comprehensive intervention are found in the 1930s after the collapse of social democratic policies in Weimar Germany and in the United States after the failed interventions of the Hoover administration.
Wednesday, January 20th, 2010
On February 5, 2010, our friends at the Cato Institute will be hosting a Capitol Hill Briefing, "Greed, Irresponsibility, or Policy Mistakes: What Caused the Recession?".
Wednesday, January 20th, 2010
Mike Van Winkle interviews Professors Peter Boettke and Steven Horwitz, co-authors of the recent FEE monograph “The House That Uncle Sam Built,” about what led to the financial meltdown and the Great Recession of 2008.
Wednesday, January 20th, 2010
"I use the term to mean laissez-faire banking — banking without any special government regulations or restrictions. Like free trade, it’s an ideal concept. It doesn’t refer to any specific or actual banking system, although some, like Scotland’s in the early 19th century, came close.