The Afghanistan story is a tragic one and I don't have much to add to it apart from my ability to read central bank financial statements...

[This is a guest post by Mike Sproul . Mike has posted a few times before to the Moneyess blog.] “If the Treasury were to fill old...

Here's an interesting fact. Remember all those worthless Zimbabwe paper banknotes? The Reserve Bank of Zimbabwe (RBZ), Zimbabwe'...

This is a guest post by Mike Sproul. Many of you may know Mike from his comments on this blog and other economics blogs. I first encounte...

In a previous post , I made the point that banknotes aren't Samuelsonian bubble assets , say like a chain letter or a ponzi scheme o...

1942 Japanese Invasion Philippines Peso with a JAPWANCAP Stamp In his reply to Mike Sproul, Kurt Schuler brings up the question of th...

Kurt Schuler was kind enough to host a Mike Sproul blog post, which I suggest everyone read. I think Mike's backing theory makes...

Don Randi Trio +1 at the Baked Potato , Poppy Records, 1971. [ link ] In this post I'll argue that: 1. When it comes to financi...

In the comments section of my post on Adam Smith and the Ayr Bank , frequent commenter John S. brought up the real bills doctrine . The p...

Gavyn Davies's post Will central banks cancel government debt? dovetails nicely with the recent fundamental value of fiat money deba...