(Originally appeared as George Selgin's first-ever post in Alt-M's predecessor blog freebanking.org.) *** Free bankers have been fighting a war on two fronts. On one they face champions of central banking and managed money. On the other they struggle against advocates of 100-percent reserve banking. Although the…
In my opening post about Scottish banks' suspension of specie payments, I explained that, although the suspension was technically illegal, it failed to provoke any lawsuits in part because it was no less in the interest of many Scottish citizens, and Scottish bank creditors especially, than it…
(Today we celebrate the great Walter Grinder's 80th birthday by reposting our tribute to him on his 75th.) Walter E. Grinder turns 75 years old today [80 now!]. He is the former CEO of the Institute for Humane Studies and President Emeritus of the Institute for Civil…
From the beginning, there is one embarrassing and evident fact that Professor White has to cope with: that "free" Scottish banks suspended specie payment when England did, in 1797, and, like England, maintained that suspension until 1821. Free banks are not supposed to be able to, or…
In February 2018 Agustin Carstens, the General Manager of the Bank for International Settlements in Basel, gave a speech at Goethe University in Frankfurt entitled "Money in the digital age: what role for central banks?" The speech quickly became notorious in the cryptocurrency community for its brusque…