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Ideas for an Alternative Monetary Future

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Ideas for an Alternative Monetary Future

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Recent

Fed, repos, Treasury, Interest on excess reserves, standing repo facility,

Stop the Presses! or, How the Fed Can Avoid Reserve Shortages without Bulking-Up,
Part 2

George Selgin/November 14, 2019November 18, 2019 /Leave a comment
"You’ve always had the power to go back to Kansas.” --the Good Witch of the East, to Dorothy, in The Wizard of Oz. (This is the conclusion of a two-part essay. For Part 1 click...
Continue reading
excess reserves, fed, fed balance sheet, repos, bank reserves

Stop the Presses! or, How the Fed Can Avoid Reserve Shortages without Bulking-Up,
Part 1

George Selgin/November 12, 2019November 15, 2019 /6 Comments
Cato Monetary Conference, Fed, Federal Reserve, Richard Clarida, Monetary Alternatives

Cato's 37th Annual Monetary Conference: A Shadow Review of Fed Policy

James Dorn/November 1, 2019November 2, 2019 /2 Comments
consumer credit, consumer loans, financial inclusion, payday lending, student loans

Financial Inclusion without Finance? The Misguided Quest to Limit Choice in Consumer Credit

Diego Zuluaga/October 24, 2019October 26, 2019 /Leave a comment
cryptocurrencies, libra, currency alternatives, currency choice, currency competition

Bruno Le Maire’s Coup de Brumaire

Diego Zuluaga/October 17, 2019 /1 Comment

Money & Politics

Fed, repos, Treasury, Interest on excess reserves, standing repo facility,

Stop the Presses! or, How the Fed Can Avoid Reserve Shortages without Bulking-Up,
Part 2

George Selgin/November 14, 2019November 18, 2019 /Leave a comment
"You’ve always had the power to go back to Kansas.” --the Good Witch of the East, to Dorothy, in The Wizard of Oz. (This is the conclusion of a two-part essay. For Part 1 click...
Continue reading
excess reserves, fed, fed balance sheet, repos, bank reserves

Stop the Presses! or, How the Fed Can Avoid Reserve Shortages without Bulking-Up,
Part 1

George Selgin/November 12, 2019November 15, 2019 /6 Comments
Cato Monetary Conference, Fed, Federal Reserve, Richard Clarida, Monetary Alternatives

Cato's 37th Annual Monetary Conference: A Shadow Review of Fed Policy

James Dorn/November 1, 2019November 2, 2019 /2 Comments
cryptocurrencies, libra, currency alternatives, currency choice, currency competition

Bruno Le Maire’s Coup de Brumaire

Diego Zuluaga/October 17, 2019 /1 Comment
currency competition, dollarization, hyperinflation, libra, zimbabwe

The Zimbabwe Dollar, Monetary Sovereignty, and Opposition to Libra

Larry White/October 17, 2019October 18, 2019 /2 Comments

The Fed & Central Banks

Fed, repos, Treasury, Interest on excess reserves, standing repo facility,

Stop the Presses! or, How the Fed Can Avoid Reserve Shortages without Bulking-Up,
Part 2

George Selgin/November 14, 2019November 18, 2019 /Leave a comment
"You’ve always had the power to go back to Kansas.” --the Good Witch of the East, to Dorothy, in The Wizard of Oz. (This is the conclusion of a two-part essay. For Part 1 click...
Continue reading
excess reserves, fed, fed balance sheet, repos, bank reserves

Stop the Presses! or, How the Fed Can Avoid Reserve Shortages without Bulking-Up,
Part 1

George Selgin/November 12, 2019November 15, 2019 /6 Comments
Cato Monetary Conference, Fed, Federal Reserve, Richard Clarida, Monetary Alternatives

Cato's 37th Annual Monetary Conference: A Shadow Review of Fed Policy

James Dorn/November 1, 2019November 2, 2019 /2 Comments
Nominal GDP, Inflation Target, Monetary Policy, Fed, Dual Mandate

Lars Svensson on NGDP Targeting

George Selgin/October 15, 2019October 16, 2019 /23 Comments
Fed, IOER, Liquidity, Repos, Standing Repo Facility

Reflections on the Repo-Market Imbroglio

George Selgin/October 3, 2019October 6, 2019 /27 Comments

Monetary Policy Primer

commodity money, monetary policy primer, federal reserve, fiat money, alternative monetary policy, monetary alternatives

A Monetary Policy Primer, Part 12: Monetary Alternatives

George Selgin/October 31, 2017February 28, 2019 /28 Comments
This primer is supposed to introduce readers to the workings of the present U.S. monetary system. So it's only natural that it should take established...
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lender of last resort, bank runs, panics, monetary primer

A Monetary Policy Primer, Part 11: Last-Resort Lending

George Selgin/August 8, 2017February 28, 2019 /16 Comments
monetary rules, discretionary monetary policy, time-inconsistency problem, stable spending, NGDP targeting

A Monetary Policy Primer, Part 10: Discretion, or a Rule?

George Selgin/May 11, 2017February 28, 2019 /10 Comments
Inflation Expectations, interest on reserves, interest rate targeting, natural rate of interest, QE

A Monetary Policy Primer, Part 9: Monetary Control, Now

George Selgin/January 10, 2017February 28, 2019 /30 Comments
asset bubbles, Great Recession, inflation targeting, monetary policy, NGDP targeting

A Monetary Policy Primer, Part 8: Money in the Latest Great Muddle

George Selgin/January 4, 2017February 28, 2019 /51 Comments

Financial Markets

consumer credit, consumer loans, financial inclusion, payday lending, student loans

Financial Inclusion without Finance? The Misguided Quest to Limit Choice in Consumer Credit

Diego Zuluaga/October 24, 2019October 26, 2019 /Leave a comment
On October 21, I had the pleasure to give the research keynote address at the annual conference of the Financial Services Centers of America (FiSCA) in Miami. Below are...
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Monetary Policy, MMT, Financial Inclusion, Cato Journal, Fed

New Cato Journal Features an Array of Articles on Urgent Monetary Matters

Amanda Griffiths/October 2, 2019October 2, 2019 /2 Comments
CFPB, consumer loans, financial regulation, mortgage finance mortgage, Fannie Mae

More Than Patching Up: What the CFPB Should Do with Mortgage Underwriting Standards

Diego Zuluaga/September 27, 2019September 27, 2019 /Leave a comment
Fannie Mae, Freddie Mac, Housing, Government Bailout, Reform

Was the Housing Bailout Good Business for the Taxpayer?

Diego Zuluaga/September 19, 2019September 20, 2019 /3 Comments
yield curve, federal reserve, fed, inversion

How to Flip a Yield Curve

George Selgin/August 19, 2019November 10, 2019 /10 Comments

Fiat Money

cryptocurrencies, libra, currency alternatives, currency choice, currency competition

Bruno Le Maire’s Coup de Brumaire

Diego Zuluaga/October 17, 2019 /1 Comment
The French finance minister, Bruno Le Maire, delivered a scathing rebuke to Libra, the Facebook-led digital currency initiative, in the Financial Times this morning. Coming on the heels of several U.S. companies' withdrawal from the...
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currency competition, dollarization, hyperinflation, libra, zimbabwe

The Zimbabwe Dollar, Monetary Sovereignty, and Opposition to Libra

Larry White/October 17, 2019October 18, 2019 /2 Comments
real bills doctrine, the fed, gold, timberlake, humphries, cato, milton friedman

Inside America's Worst Financial Crisis: Gold, the Real Bills Doctrine, and the Fed

Amanda Griffiths/September 10, 2019September 9, 2019 /2 Comments
gold standard, commodity prices, inflation, volatility, Stephen Moore, Herman Cain, Jerome Powell, Judy Shelton

On Targeting the Price of Gold

George Selgin/August 29, 2019September 4, 2019 /5 Comments
gold standard, interest rate target, Stephen Moore, Herman Cain, Lucas critique

A Gold Standard Does Not Require Interest-Rate Targeting

Larry White/April 18, 2019April 20, 2019 /15 Comments

Digital Money

cryptocurrencies, libra, currency alternatives, currency choice, currency competition

Bruno Le Maire’s Coup de Brumaire

Diego Zuluaga/October 17, 2019 /1 Comment
The French finance minister, Bruno Le Maire, delivered a scathing rebuke to Libra, the Facebook-led digital currency initiative, in the Financial Times this morning. Coming on the heels of several U.S. companies' withdrawal from the...
Continue reading
Libra, digital money, national security, AML/KYC, payments

Of Libras and Zebras, Part Three

Diego Zuluaga/July 17, 2019July 17, 2019 /Leave a comment
cryptocurrency, digital money, monopoly, Libra, financial regulation

Of Libras and Zebras, Part Two

Diego Zuluaga/July 16, 2019July 15, 2019 /Leave a comment
cryptocurrency, Libra, systemic risk, financial regulation, macroprudential regulation

Of Libras and Zebras, Part One

Diego Zuluaga/July 11, 2019July 11, 2019 /1 Comment
Libra, mutual fund, cryptocurrencies, currency board

Libra's Unresolved Puzzles

Larry White/July 2, 2019October 22, 2019 /1 Comment

Commodity Money

gold standard, commodity prices, inflation, volatility, Stephen Moore, Herman Cain, Jerome Powell, Judy Shelton

On Targeting the Price of Gold

George Selgin/August 29, 2019September 4, 2019 /5 Comments
Thanks to President's Trump's picks for prospective Fed Board nominees, the subject of gold price targeting (or a gold "price rule") is getting attention once again. The idea, which got a lot of attention back...
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Federal Reserve, gold standard, free market, Libra

Is There Such a Thing as a Free-Market Gold Standard?

George Selgin/July 9, 2019July 12, 2019 /24 Comments
Alan Greenspan, Judy Shelton, Federal Reserve, Gold Standard

Fear of a Gold Planet

Larry White/June 4, 2019June 4, 2019 /16 Comments
gold standard, interest rate target, Stephen Moore, Herman Cain, Lucas critique

A Gold Standard Does Not Require Interest-Rate Targeting

Larry White/April 18, 2019April 20, 2019 /15 Comments
cryptocurrency, sovereign cryptocurrency, Petro, Venezuela, blockchain

Venezuela's Petro: Fool's Oil

Diego Zuluaga/March 23, 2018March 22, 2018 /1 Comment

Free Banking

Alexander Hamilton, antebellum banking, First Bank of the United States, mercantilism, ten dollar bill

Friday Flashback: Alexander Hamilton, Banking Mercantilist

Larry White/February 22, 2019February 22, 2019 /3 Comments
(Originally appeared on Alt-M on December 30, 2015) *** In this past summer’s controversy over whether Alexander Hamilton’s image should be replaced on the $10 bill, outraged commentators made many extravagant claims on behalf of...
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free banking, Canadian free banking, fractional reserve banking, Austrian economics, economic history

Bob Murphy on Free Banking in Canada

George Selgin/February 12, 2019February 12, 2019 /52 Comments
AMU, Alternative Money University, monetary economics, students, Cato Institute

Announcing Alternative Money University Round Two

Tyler Whirty/January 10, 2019January 9, 2019 /4 Comments
scottish free banking, bank of england, Bank Restriction Act, specie, free banking

Scottish Banks and the Bank Restriction, 1797-1821, Part 3

George Selgin/November 13, 2018November 14, 2018 /9 Comments
free banking, 100% reserve, public banks, economic history, friday flashback

Friday Flashback: The State and 100 Percent Reserve Banking

George Selgin/November 9, 2018November 9, 2018 /27 Comments

Currency Boards

currency competition, dollarization, hyperinflation, libra, zimbabwe

The Zimbabwe Dollar, Monetary Sovereignty, and Opposition to Libra

Larry White/October 17, 2019October 18, 2019 /2 Comments
The Zimbabwe government is back to its old money-printing tricks. As demand for Zimbabwe dollars dwindles, the government has ramped up restrictions on the use of substitutes. Late last month, as reported by Bloomberg News,...
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dollarization, Ecuador, mercantilism, trade

A Strong Currency is No Good Reason to Keep Tariffs High

Larry White/July 5, 2019July 5, 2019 /2 Comments
Libra, mutual fund, cryptocurrencies, currency board

Libra's Unresolved Puzzles

Larry White/July 2, 2019October 22, 2019 /1 Comment
Bitcoin, Blockchain, cryptocurrencies, currency board, Tether

Dollar-Denominated Cryptocurrencies: Flops and Tethered Success

Larry White/April 6, 2017April 5, 2017 /20 Comments

A lot of data, and good-bye

Kurt Schuler/December 31, 2014December 19, 2015 /5 Comments

Inflation & Deflation

Nominal GDP, Inflation Target, Monetary Policy, Fed, Dual Mandate

Lars Svensson on NGDP Targeting

George Selgin/October 15, 2019October 16, 2019 /23 Comments
Back in July, I shared here some thoughts concerning the Fed's conference in Chicago that month, which was dedicated to a review of its tools, strategies, and communications. Among other things, I said I was...
Continue reading
real bills doctrine, the fed, gold, timberlake, humphries, cato, milton friedman

Inside America's Worst Financial Crisis: Gold, the Real Bills Doctrine, and the Fed

Amanda Griffiths/September 10, 2019September 9, 2019 /2 Comments
yield curve, federal reserve, fed, inversion

How to Flip a Yield Curve

George Selgin/August 19, 2019November 10, 2019 /10 Comments
Irving fisher, monetary disequilibrium, stable money, sound money, monetary reform

Irving Fisher's Search for Stable Money: What We Can Learn

James Dorn/January 17, 2019January 17, 2019 /3 Comments
Federal Reserve, Donald Trump, monetary policy, fiscal policy, Fed independence

Donald Trump's Real Influence on Fed Policy

David Beckworth/August 15, 2018August 15, 2018 /5 Comments

Economic Thought

Nominal GDP, Inflation Target, Monetary Policy, Fed, Dual Mandate

Lars Svensson on NGDP Targeting

George Selgin/October 15, 2019October 16, 2019 /23 Comments
Back in July, I shared here some thoughts concerning the Fed's conference in Chicago that month, which was dedicated to a review of its tools, strategies, and communications. Among other things, I said I was...
Continue reading

Bagehot: The Life and Times of the Greatest Victorian

Amanda Griffiths/September 13, 2019September 13, 2019 /Leave a comment
Federal Reserve, gold standard, free market, Libra

Is There Such a Thing as a Free-Market Gold Standard?

George Selgin/July 9, 2019July 12, 2019 /24 Comments
dollarization, Ecuador, mercantilism, trade

A Strong Currency is No Good Reason to Keep Tariffs High

Larry White/July 5, 2019July 5, 2019 /2 Comments
Cato Journal, monetary policy, Cato 36th Annual Monetary Conference, James Dorn, new release

Monetary Policy 10 Years after the Crisis—New Issue of the Cato Journal

Amanda Griffiths/May 22, 2019May 25, 2019 /Leave a comment

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Contributors

  • George Selgin
  • Larry White
  • Hu McCulloch
  • James Dorn
  • Diego Zuluaga

Categories

  • Banking Regulation (58)
  • Booms & Busts (23)
  • Commodity Money (63)
  • Currency Boards (14)
  • Digital Money (82)
  • Economic History (143)
  • Economic Thought (143)
  • Events (46)
  • Fiat Money (60)
  • Financial Innovation (33)
  • Financial Markets (111)
  • Free Banking (199)
  • Inflation & Deflation (63)
  • Monetary Policy Primer (12)
  • Money & Politics (221)
  • News (134)
  • Recommended Reading (93)
  • The Fed & Central Banks (310)
  • Uncategorized (11)

Recent Posts

  • Stop the Presses! or, How the Fed Can Avoid Reserve Shortages without Bulking-Up,
    Part 2
  • Stop the Presses! or, How the Fed Can Avoid Reserve Shortages without Bulking-Up,
    Part 1
  • Cato's 37th Annual Monetary Conference: A Shadow Review of Fed Policy
  • Financial Inclusion without Finance? The Misguided Quest to Limit Choice in Consumer Credit
  • Bruno Le Maire’s Coup de Brumaire
  • The Zimbabwe Dollar, Monetary Sovereignty, and Opposition to Libra
  • Lars Svensson on NGDP Targeting

Recent Comments

  • Selgin on Stop the Presses! or, How the Fed Can Avoid Reserve Shortages without Bulking-Up,
    Part 1
  • mikesproul on Stop the Presses! or, How the Fed Can Avoid Reserve Shortages without Bulking-Up,
    Part 1
  • B Walby on Stop the Presses! or, How the Fed Can Avoid Reserve Shortages without Bulking-Up,
    Part 1
  • Selgin on Stop the Presses! or, How the Fed Can Avoid Reserve Shortages without Bulking-Up,
    Part 1
  • mikesproul on Stop the Presses! or, How the Fed Can Avoid Reserve Shortages without Bulking-Up,
    Part 1

About Us

Welcome to Alt-M, a community devoted to exploring and promoting ideas for an alternative monetary future. Our goal is to reveal the shortcomings of today’s centralized, bureaucratic, and discretionary monetary arrangements, and to bring serious consideration of real alternatives to the center stage of current monetary and financial reform debates.

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