The outbreak of Covid-19 has caused a global increase in the amount of cash in the economy. I think I've got a pretty neat explanatio...

We can all think of examples of state failure. The most obvious include the inability to protect citizens from criminals, failure to prov...

People in the bitcoin community often make fun of me as a nocoiner . That is, I don't have any bitcoins and am vocal about that fact....

I often encounter memes claiming that fiat money is to blame for all sorts of government evils. Here is one example from Kraken bitcoin stra...

Chase Sunset & Vine, 2012. Painting by Alex Schaefer There is a fundamental asymmetry to banking. Banks don't like to share hig...

The only type of central bank-issued money that we hoi polloi can own are banknotes. But over the last few years, researchers at central...

Ever since the coronavirus hit, the Bank of Canada's balance sheet has been exploding. In late February its assets measured just $118 bi...

I often write about odd monetary phenomena on this blog. Here's a new contender, Yemen's dual banknote system. Yemen uses the Y...