Money and Banks

Rothbard argued that the Fed stripped away the natural checks of free banking, paving the way for endless credit expansion and inflationary cycles.

The notion that transparency fosters trust fails to account for the indispensable role of privacy. Privacy is not merely a personal preference—it is the guarantor of fungibility.

The comparison between gold and bitcoin comes down to their respective qualities and how well these qualities answer to the purpose of money.
 

Bob breaks down the mechanics behind how commercial banks create money out of thin air—and why that power fuels economic booms and busts.

Werner’s experiment is dubious at best. He strawmaned the alternative theories and set up the experiment in such a way that only his preferred theory would be confirmed.

In most of the world, inflation is no longer an exception, it is the rule. Official inflation targets of 4 percent, 5 percent, or even 6 percent per year have become normalized.

In most of the world, inflation is no longer an exception, it is the rule. Official inflation targets of 4 percent, 5 percent, or even 6 percent per year have become normalized.

Thanks to modern Keynesian economics, most people believe money gains its value from the government that issues it. Money's value, however, is historically tied to the value of the commodity from which money was derived.

Thanks for modern Keynesian economics, most people believe money gains its value from the government that issues it. Money's value, however, is historically tied to the value of the commodity from which money was derived.

Bob Murphy and Jonathan Newman offer a comprehensive Austrian response to Richard Werner’s claims on the Tucker Carlson Show about banks, money creation, and credit theory.