Central banks don’t “supply” dollars to cities, states and nations, rather dollars are an automatic effect of production in cities, states and nations. Contrary to what most economists believe, central banks don’t need to concentrate on managing so-called “money supply,” nor could they manage what is a market phenomenon in the first place. Money […]
Rising Dollar Circulation In Syria Is a Sign of Liberty Read More »
What should the interest rate be? The very question insults reason simply because economies are comprised of individuals, businesses and governments with wildly divergent pasts, presents and futures. An interest rate is a singular concept, not a number that a central planner can divine. What’s true about interest rates is similarly true about bank
The Arrogant Conceit of Bank Capital Requirements Read More »
There’s no such thing as “easy money” or “costless credit” contra what readers are told with great regularity by economists and their enablers in the commentariat. Evidence supporting this statement of the obvious can most easily be found in the powerful force that is compound interest or returns. Precisely due to the power of
The Surest Sign of Tight Credit? When Central Banks Go to Zero Read More »
