A Trapped Fed
The clearest way to understand current Fed policy and its effect on markets is to view it through interest rates. Interest rates are the price of credit. Credit is not money. When a bank creates credit, it does not create…
Read more
Tag Archive: Money
The Basics of Money
Start with the basics of money. Money is not wealth, it is the measurement of wealth. All money does is value the exchange of goods and services—the productive economy—similar to any other basic unit of measurement in the International System…
Read more
The Promise of Cryptocurrency
Cryptocurrency is money, not a rare artifact of speculative value. Decentralized issuance beyond the control of government or central banks is the essential tenet and attraction of cryptocurrency. The immutable, public ledger blockchain provides the foundation for peer-to-peer commerce in…
Read more
Money and Credit
What is money? That seems like a simple question. It’s mainly the green stuff in your pocket that you want more of, but it leads to all sorts of confusion in the economic world, with harmful results. It is the…
Read more