Banking came up with its own methods of inflating the supply of legal tender-fiat money, fractional reserve lending. A bank comes to know (a version of the dispersal of knowledge of the market) how much [more…]
Prior to written documents being exchanged as representations of mutually agreed perceived value, the concept of money arose amongst multiple trading groups. This may have taken place prior to the credit/debit system as a substitute [more…]
Having been born into and grown up within the never-ending promise of prosperity guaranteed by Keynes’s gospel that saved us all from the purgatory of the Depression, I like others only began to see a [more…]
Interview with Jeff Deist, President Mises Institute, Auburn, USA Division, friction and polarization have been on the rise in the West for at least a decade, but the escalation we saw during the “covid years” [more…]
According to Wikipedia, Bernie Madoff ran the world’s largest Ponzi scheme, with losses estimated to be as high as $65 billion. Madoff promised to invest his customers’ money in productive enterprises and pay them generous [more…]
Those who are familiar with my ideas and my writings undoubtedly know that one the issues I’m most passionate about is individual freedom, on all levels. I believe that free-thinking people know what’s best of [more…]
Every time I start this essay I find the political background has shifted so dramatically that I have to start again. Only Ollie’s complaint to Stan seems to be an apt constant: “another fine mess [more…]
The end of world dollar hegemony is coming and hardly anyone in government is taking notice or even understands what this means. Since the Bretton Woods Conference in 1944, the dollar has been the only [more…]
During my year and a half stay in Kuwait in the late 1970s the country had two big objectives. Increase the number of Kuwaiti citizens Reduce dependence on oil The population was about 1.5 million [more…]
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