Bank reform demands monetary reform – an essay for Banking 2020
byThis article was published yesterday at stevebaker.info. Today sees the return of the Financial Services (Banking Reform) Bill to Parliament. It does not do enough. In…
Fiat currency
The rise of the money cranks
byIt’s official: global economic policy is now firmly in the hands of money cranks. The lesson from the events of 2007-2008 should have been…
The relationship between money and prices
byThe quantity theory of money and its accompanying equation of exchange are generally accepted as defining the relationship between money and prices. The equation…
All power to the state! – money madness at the IMF
byYou cannot escape an all-pervasive sense of crisis these days. Impending doom does not only announce itself in actual events but also via the…
Subjective value and currencies
by“The issuer’s promise” is a phrase I have used recently to describe the backing for fiat currencies. The purpose of this article is to…
Happy interventionists: the economist’s attack on your property
byLast week, DIW – the Deutsches Institut für Wirtschaftsforschung (German Institute for Economic Research) – an influential think tank, proposed an ingenious solution to…
What gives money value, and is fractional-reserve banking fraud?
byI thought I should address a couple of points that I consider to be misconceptions and that frequently come up in discussions with the…
ECB money injection not a reason for optimism
byAre you feeling optimistic yet? Are you confident that policy-makers have things under control? – If so, you must believe that we can solve…
James Dines: Gold, Rare Earth, Uranium, and the Mother of all Bubbles
byRare Earth elements are essential for the production of modern technology — for instance, Toyota Prius drive motors rely upon dysprosium. Phones, computers, and…
What the pound has still to learn from gold
byToday, as there are so many politicians meddling around trying to get things right in our economies, people are concerned about money; not only…