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

Freigeld , or stamp scrip, is designed to pay negative interest, but it can be re-purposed to pay positive interest. Remember when glob...

Cross section of a banknote with a cotton paper core surrounded by two layers of polymer [ Source ]   Central bankers are at their most...

by Paul Conrad When we talk about bitcoin, one thing we need to ask ourselves is this: can worthless things circulate and be accepted i...

Florentine florin Last year Scott Sumner introduced the econ blogosphere to what he likes to call the medium-of-account function of...

Tyler Cowen and Scott Sumner discuss the idea of abolishing central bank-issued cash. The existence of cash can create problems for mon...

Tyler Cowen posts on Is there an easy way out of the eurozone? He notes it would be harder than Robert Barro thinks. I agree. My comment...

Tyler Cowen posts again on the theory that banks are using the ECB's new and broader facilities for arbitrage by buying risky sovereign...

Have commented on a few blogs that bring up the meme of collateral shortages. Commodity money: It's back! (and it sucks) at Macromani...

Tyler Cowen has another post on the ECB financing sovereign governments via loans... It is finally being recognized that the eurozone made a...

Interesting post on Marginal Revolution, What is the difference between LOLR to banks and LOLR to governments? Cowen: “Is this transfer of...