Source: Gravity Glue (2014) Cryptocurrencies were supposed to destroy the traditional monetary system. Ten years on, where are we? B...

Nations never experience year-over-year declines in cash in circulation. Sweden (which I wrote about here , here , and here ) is one of t...

On Twitter , Noah Smith asks: @ClicheGuevara But why don't we use stock shares as our medium of exchange? — Noah Smith (@Noahpinion...

We all carry a variety of media of exchange in our portfolios, some more liquid than others. Deposits are pretty high on the liquidity sc...

I'm going to use a stock market analogy to work out the costs of manufacturing liquidity premia. In addition to paying dividends and...

Real t-bill and bond yields have been falling for decades and are incredibly low right now, even negative (see chart below). With an eye ...

[This is a continuation of my post on liquidity adjusted equity valuation .] If your favorite holding period is forever, then today'...

There is a recurring story in the media that 150oz Tide detergent bottles are being used as money by criminals. It's a fun story an...

Christmas is upon us, and so is the seasonal spike in the demand for cash. This Christmas bump relates to the previous post on liquidity a...

In between my more practical posts, once every week or so I'll do something on the idea of moneyness . Economists have known for a lo...

On November 15 @ 5:37 PM, Wordpress.com tweeted that it would be accepting bitcoin as payment. Over the next twenty-four hours, the price o...