Money and Banking

The financial press gives us the what, when we need the how and why. Economic journalism needs a reset.

China was one of the first countries to develop a metallic money that was valued and exchanged by weight. Evidence suggests that this monetary regime originated during the Shang Dynasty (1766–1122 BC). 

Monetary sovereignty is not something the government decides. It all depends on the public's demand for a currency. That demand comes and goes, and once it's gone, a currency is irreparably damaged. 

Rothbard recognized that money and exchange could not develop without first establishing private property. So Rothbard also recognized that it was important to develope theories of how private property might come about. 

If Europe wants to build wealth for its poorest members, it needs private entrepreneurship. But entrepreneurs need exactly the opposite of the Keynesian plan for building a European superstate. 

If Europe wants to build wealth for its poorest members, it needs private entrepreneurship. But entrepreneurs need exactly the opposite of the Keynesian plan for building a European superstate. 

Here's a likely reason the Fed has chosen to hide its data on government deposits: the explosion of Treasury deposits at the fed “fuels … suggestions that the Fed is directly financing the government [and] foster[s] uncertainty about central bank independence.”

Rothbard recognized that money and exchange could not develop without first establishing private property. So Rothbard also recognized that it was important to develope theories of how private property might come about. 

Using the Mises’s regression theorem, we can infer that it is not possible that money could have emerged because of a government decree as suggested by the modern monetary theory (MMT).

Murray Rothbard didn’t need to explain to me on the bus why East Berlin, the so-called Paris of Eastern Europe, was a broken-down dump. He already had explained it to me in his numerous writings.