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Ideas for an Alternative Monetary Future

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Ideas for an Alternative Monetary Future

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credit allocation

Money & Politics, The Fed & Central Banks

Friday Flashback:Why there is no Fiscal Case for the Fed's Large Balance Sheet

Larry White/February 11, 2022June 19, 2022 /1 Comment

(As the Fed is once again planning to unwind its balance sheet, the size of which doubled as a result of its COVID-19-crisis Quantitative Easing, we think it worthwhile to draw your attention to a 2017 exchange, on the fiscal implications of such an unwind, between two…

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balance sheet, credit allocation, Interest on Excess Reserves, money multiplier money, reverse repos
Money & Politics, The Fed & Central Banks

On Shrinking the Fed's Balance Sheet

George Selgin/February 23, 2017June 19, 2022 /36 Comments

If you're a regular Alt-M reader (and may the frost never afflict your spuds if you are), I needn't tell you that I'm the last person to exalt the pre-2008 Federal Reserve System. Among other things, I blame that system for fueling the 2003-2006 boom, and for…

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credit allocation, OMOs, open market operations, lender of last resort, Flexbile OMOs, money supply, fed, federal reserve, Term Auction Facility
Booms & Busts, The Fed & Central Banks

Reforming Last-Resort Lending: The Flexible Open Market Alternative

George Selgin/August 18, 2016June 19, 2022 /30 Comments

Having spent the last month or so poring over writings on last-resort lending,* and especially writings dealing with the recent crisis and its aftermath, with the particular aim of discovering the best means for supplying last-resort credit when it's called for, and for not supplying it when…

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Recent Posts

  • The Menace of Fiscal Inflation
  • Monetary Progress
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  • The New Deal and Recovery, Part 18: The Recovery So Far
  • Should the Fed Devalue Our Currency to Implement Negative Interest Rates?
  • Populism and the Future of the Fed: A New Book from Cato’s Center for Monetary and Financial Alternatives
  • Revising the Bank Secrecy Act to Protect Privacy and Deter Criminals (CMFA Working Paper No.007)

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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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