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Category Archives: Money
Free Banking in the Digital Age?
By Warren Coats[1] Introduction A number of central banks are considering issuing digital currency either in place of the paper currency they now issue or in parallel with it. The advantages of central bank digital currency (CBDC) over paper currency … Continue reading
Posted in Economics, Money
Tagged bank notes, BIS, bitcoin, Block chain, bordo and Levin, CBDC, central banks, Chicago Plan, digital coins, digital currency, digital tokens, Free Banking, Geva, ledger, technology
4 Comments
Review of John Tamny’s attack on Jack Kemp Foundation article
By Dr. Warren Coats Dr. Coats is retired from the International Monetary Fund, where he was Assistant Director of the Monetary and Capital Markets Department. In an article titled, “When the Ideas of Thinkers and Great Statesmen Are Perverted,” John Tamny … Continue reading
Posted in Money, trade
Tagged fiscal deficit, Gold standard, International Monetary System, Jack Kemp, John Tamny, SDRs, trade deficit
3 Comments
Bitcoin, Cybercurrencies and Blockchain
What would we do without money/currency? Money is the unit in which we express prices (making it easer to compare the relative cost of things) and the asset with which we pay for our purchases and debts. A good currency … Continue reading
Sound Money
Philadelphia Society Address on Oct 14, 2017 Introduction Sound money is a necessary but not a sufficient condition for a healthy economy. How can we best achieve and maintain it? For almost two hundred years the gold standard did a good … Continue reading
Posted in Economics, Government, Money
Tagged CPI, exchange rates, floating exchange rate, Friedman, gold, Gold standard, hard anchor, inflation, Money, Nixon, Paul Volcker, President Ford, sound money
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My Political Platform for the Nation – 2017
For me, the ideal American government would deliver its important but limited functions efficiently and effectively and would raise the money to pay for these activities with efficient, minimally distorting (neutral), and fair taxes following a principle of maximum subsidiarity … Continue reading
Posted in Banks, Economics, Government, Money
Tagged currency board, debt, education, Fiscal Policy, Foreign policy, Health care, Minimum Guaranteed Income, monetary policy, safety net, SDR, tax reform, taxation, trade, tuition vouchers, VAT, WTO
1 Comment
Discussion of John Tamny’s: Who Needs the Fed?
John concludes that we do not need the Fed because the Fed has become irrelevant. He argues that the interest rate “set” by the Fed is not relevant for the rest of the economy and that the Fed’s influence on … Continue reading
Posted in Economics, Money, Uncategorized
Tagged banking, credit, Fed, Federal Reserve, Gold standard, inflation, inflation targeting, monetary policy, Money, money multiplier, money supply, Real SDR, SDR
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A Modest Proposal—Helicopter Money and Pension Reform
It is possible to fix the bankrupt Social Security System and the Federal Reserve’s failure to achieve its inflation target painlessly. Yes, really. The Fed has failed to raise inflation to its 2% target because over regulated banks can’t find … Continue reading
Posted in Debt, Government, Money, Uncategorized
Tagged debt, debt crisis, inflation, pension reform, printing money, social security
1 Comment
