wampum, colonial america, currency competition, thanksgiving, economic history, currency, inflation

(Originally appeared November 27, 2014) Happy Thanksgiving to all of my fellow free bankers out there! Today is our biggest secular national holiday. Not everyone celebrates Christmas or Easter much less other national holidays like Memorial Day or Labor Day, but I don't know anyone who doesn't…

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

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 monetary arrangements for granted, including an official, "fiat" dollar currency managed by the Federal Reserve System. And while I haven't hesitated to…