“I personally have always been a big believer in providing as much information as you can to help the public understand what you’re doing, to help the markets understand what you’re doing, and to be accountable to the public for what you’re doing.” Federal Reserve Chairman Ben Bernanke,…
"In the next few days the situation would grow much worse, and the interconnected nature of the relationships among the nation's financial institutions would only enable the contagion to spread." The question I pose is which set of circumstances is the author of this passage describing? Was…
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 second front is a lot smaller than the first, it’s far from being…
My Free Banking posts will not be focused on the monetary policy aspects of ‘free banking,’ but rather on the other aspects of what I would call a ‘free-er banking’ environment going forward. I plan to focus not only on these non-monetary policy activities of central banks, but also…
Happy days are, make that, stagflation is here again. So says Ronald McKinnon in a Wall Street Journal column. Stagflation was memorialized by the 1970s experience of high inflation and economic stagnation. The Stanford professor says it's rearing its ugly head again. He lays out the cause:…