Sunday, June 29, 2014

It was the best of times, it was the worst of times

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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...
9 comments:
Sunday, June 22, 2014

The monetary economics of the roll-up

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The so-called corporate "roll up" lies at the conjunction of finance and monetary economics. For those monetary eco...
6 comments:
Monday, June 16, 2014

When the good drives out the bad

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There's a fairly regular monetary phenomenon that needs a name. It's similar in nature to Gresham's law, yet the inverse vers...
10 comments:
Sunday, June 8, 2014

Why loonies circulate but Susan B. Anthony dollars don't

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What causes a new currency to survive while others fail? Why do some cryptocoins never see the light of day while others enjoy successful...
10 comments:
Tuesday, June 3, 2014

Scott Sumner vs. the Real Bills Doctrine

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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...
33 comments:
Saturday, May 31, 2014

Financial Plumbing: Europe and the Fed's Interdistrict Settlement Account

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One of this blog's most recurrently popular posts is a 2012 ditty entitled the Idiot's Guide to the Federal Reserve Interdistrict...
6 comments:
Friday, May 23, 2014

Deep money, the coexistence puzzle, and the legal restrictions hypothesis

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WWI Liberty bonds, which according to Neil Wallace circulated alongside Federal Reserve notes [ source ] What follows are some thought...
11 comments:
Wednesday, May 14, 2014

From corporate bonds to a fiat CPI standard

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Michigan Central Railroad 3.5% Bearer Bond with attached coupons, 1902 David Glasner is frustrated that there is no satisfactory theor...
24 comments:
Sunday, May 4, 2014

Labour Shares™: Beating capital at its own game

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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...
18 comments: