A few months back I wrote about the odd case of the Somali shilling. Despite the fact that Somalia's central bank was looted in 1991...

Imagine a market where buyers and sellers of moneyness congregate. In this post I'll flesh this market out. By moneyness I mean th...

Once in a while I veer out of the realm of abstraction into the land of usefulness. This post is meant to be helpful for anyone currently...

IMF board room I like to think of the International Monetary Fund's special drawing rights (SDR) program as the world's largest...

'...the peculiar feature of a money economy is that some commodities are denied a role as potential or actual means of payment. To st...

The Telegraph's Willard Foxton writes that Silk Road, a venue where people exchange drugs for bitcoin, is in a recession of sorts. He b...

For the full version, go here . The chart below only includes Eurosystem assets, not liabilities. It goes back just a few years. The full ve...

Stock trading on the New York Curb Association market, 1916 This isn't a bitcoin post. But it cribs some ideas from bitcoin and ap...

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 ...