“Banking was conceived in iniquity and was born in sin. The bankers own the earth. Take it away from them, but leave them the power to create money, and with the flick of the pen they will create enough deposits to buy it back again. However, take away from them the power to create money, […]

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Before we get to the Origin of Banking I would like to spend a post discussing a few concepts regarding money and exchange in the economy more generally… And to illustrate these concepts I will use a set of quotes from some great Classical Liberal French Economists, much neglected by the history of economic thought… […]

Read more "The Essence of Money"

Another controversial topic perhaps… There are numerous theories and historical evidence for the origin of money, and it has caused rigorous debate among Economists, Archaeologists, Anthropologists and other Social Scientists… What is money, what constitutes a money, and where does it originate? And considering the importance of money to a functioning market economy beyond that […]

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A provocative title to kick things off… Many so-called “Financial Experts”, Bankers, “Economists” and myriad “Analysts” have decried Bitcoin as a fiction, a delusion, a Ponzi Scheme, Linden Dollars, “intrinsically” worthless imaginary monopoly money… Even elements within Mainstream Austrian Thought, which one would expect to know rather better, have jumped on the Bitcoin Ponzi bandwagon… […]

Read more "The “Intrinsic” Value of Bitcoin"