What role do changes in the supply of banknotes play in contributing to a central bank's ability to carry out monetary policy? Put diffe...

Central bank digital currency, or CBDC, is a form of highly-liquid digital debt that most governments have, till now, held back from issu...

David Andolfatto had a provocative and open-ended tweet a few days back: The difference between money and debt. pic.twitter.com/CSQuLzUJP...

Narayana Kocherlakota, formerly the head of the Federal Reserve Bank of Minneapolis and now a prolific economics blogger, penned a rece...

1934 Chinese silver dollar with Sun Yat-sen on the obverse side. The ship may be in freshwater. I have been hitting my head against the...

Shibboleth , by Doris Scalcedo John Cochrane writes an interesting post that makes the case that removing or penalizing cash would no...

I gave myself a quick whiff this week to determine if I pass the market monetarist smell test. This is by no means definitive, nor is th...

You may know by now that the final revision of U.S. first quarter GDP revealed a shocking 2.9% decline while its mirror image, gross dom...

This is a guest post by Mike Sproul . Mike's last guest post is here . Scott Sumner and I have argued about the backing theory of m...

What is this gas station using as a medium of account? Visa/Mastercard dollars or Federal Reserve dollars? In this post I'll argue ...