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Ideas for an Alternative Monetary Future

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Ideas for an Alternative Monetary Future

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clearinghouse

Canadian Banking System, clearinghouses, Glass-Steagall, Unit Banking, intragroup funding
Banking Regulation, Financial Markets, Free Banking

Intragroup Funding: Don’t Build the Wall

Julien Noizet/April 28, 2017June 19, 2022

Three years ago, I wrote about the importance of intragroup funding, liquidity, and capital flows within a banking group composed of multiple entities , as is common nowadays. In short, I suggested that, based on the evidence, intragroup funding — or “internal capital markets,” as some academics refer to…

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Continental Illinois, Gary Gorton, lender of last resort, Too Big To Fail, Walter Bagehot
Economic History, Free Banking, The Fed & Central Banks

Were Banks "Too Big to Fail" Before the Fed?

George Selgin/March 22, 2016June 19, 2022

According to Gary Gorton and Ellis W. Tallman, in their  recently released NBER Working Paper, some were. For several decades prior to the Fed's establishment, Gorton and Tallman note, "private bank clearinghouses provided lending facilities and assisted member banks when they needed help."  The pattern of such…

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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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