Topic: Sound Money Project

The Hong Kong dollar, rock solid

– February 29, 2016

The currency speculators are restless, again. Many, like George Soros and Kyle Bass, are reportedly taking aim at the Hong Kong dollar (HKD). HKD bear circles think China’s renmimbi (RMB) will lose value against the U.S. dollar (USD) as China’s economy …

Sound Money Project

Op-ed: Global monetary turmoil is hurting economic growth

– February 25, 2016

For the first time in recent memory, politicians and candidates alike are talking about the importance of rules-based monetary reform and the public is shifting its attention (and ire) from the bankers on Wall Street to the central bankers at the Feder …

Sound Money Project

Austrian business cycle theory and rational expectations

– February 24, 2016

Although Austrian business cycle theory (ABCT) is a powerful price-theoretic explanation for monetary-induced booms and busts, it is not without critics. Indeed, many find ABCT implausible for two reasons. The first is that it seems to rely on indivi …

Sound Money Project

13 Things Bernanke Believes (That I Don’t)

– February 22, 2016

Ben Bernanke is obviously a very intelligent guy. And I am inclined to believe he is a good person (i.e., honest, well-intentioned, etc.). So it is a bit unsettling to find that we seem to disagree on so many fundamental issues.

Sound Money Project

Nicolas Cachanosky interviewed at Reinvent.Money

– February 17, 2016

This week, Sound Money Project fellow Nicolas Cachanosky appeared in an episode of Reinvent.Money and discusses free banking vs. central banking, competing currencies, property rights and his involvement with the Sound Money Project. Watch the intervie …

Sound Money Project

Expectations under growth and level targeting regimes

– February 9, 2016

Under a level target, one can reasonably predict the level of nominal income at any point in the future. The same cannot be said for a nominal income growth target.

Sound Money Project

Steve Forbes speaks out on the Presidential race, Fed recklessness, and gold

– February 4, 2016

The following is an exclusive interview with Mike Gleason, Director of Money Metals Exchange and originally appeared on the Money Metals Exchange page. To listen to the interview, click here. Mike Gleason, Director, Money Meta …

Sound Money Project

Austrian business cycle theory and monetary equilibrium

– February 3, 2016

As Steve Horwitz has shown, the insights of Austrian macroeconomics and monetary disequilibrium theory can be combined to yield a powerful paradigm for understanding how monetary policy affects the economy. Crucial to this synthesis is the neutrality …

Sound Money Project

Central banks and foreign exchange markets

– February 1, 2016

In addition to turmoil in common stock markets around the world, the early weeks of the new year have been characterized by changes in—and much hand wringing about—exchange rates between currencies. Prospects for changes in currency exchange rates were …

Sound Money Project

Economic headwinds: Big players, regime uncertainty and the Misery Index

– January 29, 2016

Before we delve into the economic prospects for 2016, let’s take a look at the economies in the Americas, Asia, Europe and the Middle East/Africa to see how they fared in the 2014-15 period. A clear metric for doing this is the misery index. For any co …

Sound Money Project

Sound money isn’t what you think it is

– January 28, 2016

Many people define sound money as being when a currency’s purchasing power is not declining, but stable. This isn’t quite right, so let’s drill down. Consider two relentless processes occurring in the economy. They are both happening at all times, but …

Sound Money Project

What Austrian business cycle theory does not predict

– January 13, 2016

Many economists who have broadly free market views on money are sympathetic to the Austrian theory of the business cycle (ABCT). As developed in the early part of the 20th century by Ludwig von Mises and Friedrich Hayek, and further refined in recent …