“The gold standard isn’t perfect. No system is. But it has many virtues. A strong case can be made that it’s the best of all feasible institutional alternatives. As my dissertation adviser, Lawrence White, puts it: The gold standard is still the gold standard among monetary systems.” ~
READ MORE“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
READ MORE“We should acknowledge the weaknesses of our current system and make improvements if possible. At a minimum, that means scrapping the penny. More fundamental reforms, like permitting competition in coinage, would be better still.” ~ William J. Luther
READ MORE“One-size-fits-all solutions in our political discourse are often made to work for every topic globally. Reality is not like that, as both economic and ecologic matters frequently assert.” ~ Joakim Book
READ MORE“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
READ MORE“It seems odd that the crime of uttering currency is considered to be so grave an offense in this day and age. Reducing the punishment might cause law enforcement officers to approach cases of uttering as they do other less serious, non-violent offenses.” ~ J.P. Koning
READ MORE“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
READ MORE“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
READ MOREWe’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!
READ MOREHaving lived abroad for most of the last seven years, I am painfully aware of the challenges that emerge from having incomes, assets, and costs in different currencies. Sometimes that yields you unexpected windfalls, like when the British pound (GBP) b …
READ MOREThe Libra could be to money and finance what Henry Ford was to automobiles.
READ MOREIn a new report, the Government Accountability Office (GAO) considers the financial benefit of switching to a $1 coin.
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