Gold and Free Banking versus Central Banking
byIn spite of the officially declared “independence” of the Federal Reserve from the immediate political control of either Congress or the White House, America’s…
monetary policy
Estimating the shape of the coming crisis
byWith a recession become increasingly certain and the end of the expansionary phase of the credit cycle in sight, we can expect a periodic…
Chapter 5: Bubbles and Adam Smith.
byThis chapter explores how laws enabling debt to be bought and sold transformed Britain. Suddenly, vast quantities of money and value were being…
Coffee Sellers Are Not Fundamentally Different from Banks
byBy Joakim Book With the 2007-8 financial crisis came a splendid alphabetical soup of central bank interventions to stimulate financial markets, lower interest rates, provide…
Event Announcement: The Future of Money – 10 years after Lehman and Nakamoto
byI have the pleasure of speaking at the Future of Money Conference in Frankfurt next month on the 24th November. It should be a…
LvMI produces book on Austrian School with many contributors – published by Springer
byI wrote a chapter on business cycle theory – there are some terrific economists, including Prof. Gunther Schnabl, with whom I gave a seminar…
Interest Rates Need to Tell the Truth
byIn the middle of July 2018, President Donald Trump said in an interview that he was “not happy” with the Federal Reserve nudging up…
James Madison’s Essay on Money
byThe following is by James Madison, the primary author of the US Constitution and fourth president. For those who wish to get a…
The Deflation/Inflation Debate
by“Naïve inflationism demands an increase in the quantity of money without suspecting that this will diminish the purchasing power of the money.” ― Ludwig von…
When will the next credit crisis occur?
byThe timing of any credit crisis is set by the rate at which the credit cycle progresses. People don’t think in terms of the…