Tom Duncan
at Sound Money Project
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“EU Proposes Tax to Support Bank Crisis Funds”
“The European Commission Wednesday proposed that each European Union government levy a tax on its banks and use the proceeds to create a fund dedicated to ensuring the “orderly failure” of troubled banks. The proposal would create a European network of such funds that would follow the same rules, although the commission, the EU’s executive…
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Budgetary Impact of Fed’s Actions During the Crisis
“Over the past several years, the nation has experienced its most severe financial crisis since the Great Depression of the 1930s. To stabilize financial markets and institutions, the Federal Reserve System used its traditional policy tools to reduce short-term interest rates and increase the availability of funds to banks, and created a variety of nontraditional…
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“US exposed to Europe debt woes”
“A top Federal Reserve official said on Tuesday that European debt woes pose a risk to the US economic recovery, but expressed confidence the danger of contagion was small. ‘It’s hard to see a banking crisis,’ St. Louis Federal Reserve Bank President James Bullard told Reuters Insider in an interview. ‘It might be expensive, there…
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Good Money
“This is the true and remarkable story of private coinage and banking in Britain in the early years of the Industrial Revolution (1775-1850). Making money was a business in demand. The needs of business for small denominations were changing. Merchants needed small denomination coins in copper and silver. The Royal Mint couldn’t be bothered. It…
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“Financial Reform Bill is a ‘Disaster’: Sen. Gregg”
“The financial regulatory bill is a “disaster,” and its proposed consumer protection agency would create a Fannie and Freddie “on steroids,” Sen. Judd Gregg, R-N.H. told CNBC on Monday. “The bill is a disaster because it doesn’t address the fundamental underlining causes of the economic issue, which were real estate and underwriting,” he said. “This…
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“Monetary-Policy Disasters of the Twentieth Century”
“The Federal Reserve System was created in 1913 and soon did what central banks almost always do: it started printing lots of money. During World War I the Bank of England inflated its money supply, and as a result a significant amount of gold flowed out of Great Britain to the United States in the…
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Less is More
It’s absolutely mind-boggling to think that Congress can successfully regulate something as complex as the entire financial industry. I don’t believe it for a second. These are the same legislators who just lost billions in TARP funds. These are the same political leaders who directly and purposefully threw money away on failing companies around the…
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Applying Hayekian Ideas: Leonard Read and I, Money
“In a recent blog post, Peter Boettke argues that in reading F.A. Hayek it is important to distinguish between Hayek and Hayekianism. Because Hayek, as a lifetime learner, did not always apply his ideas as fully he possibly could have, Hayek the man was at times less willing to take the ideas as far as…
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“Can the Government Regulate Inflation?”
“In a recent column, Nobel Prize winning economist Paul Krugman claimed that the government needs to have two important duties in finance. First, it must keep interest rates low; second, it must strictly regulate where the newly created money goes. Now, as one who believes that government cannot simultaneously make water run downhill and uphill,…
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“Did Deregulation Cause the Financial Crises?”
“The growing narrative in Washington is that a decades-long unraveling of the regulatory system allowed and encouraged Wall Street to excess, resulting in the current financial crisis. Left unchallenged, this narrative will likely form the basis of any financial reform measures. Having such measures built on a flawed foundation will only ensure that future financial…
-
“EU Proposes Tax to Support Bank Crisis Funds”
“The European Commission Wednesday proposed that each European Union government levy a tax on its banks and use the proceeds to create a fund dedicated to ensuring the “orderly failure” of troubled banks. The proposal would create a European network of such funds that would follow the same rules, although the commission, the EU’s executive…
-
Budgetary Impact of Fed’s Actions During the Crisis
“Over the past several years, the nation has experienced its most severe financial crisis since the Great Depression of the 1930s. To stabilize financial markets and institutions, the Federal Reserve System used its traditional policy tools to reduce short-term interest rates and increase the availability of funds to banks, and created a variety of nontraditional…
-
“US exposed to Europe debt woes”
“A top Federal Reserve official said on Tuesday that European debt woes pose a risk to the US economic recovery, but expressed confidence the danger of contagion was small. ‘It’s hard to see a banking crisis,’ St. Louis Federal Reserve Bank President James Bullard told Reuters Insider in an interview. ‘It might be expensive, there…
-
Good Money
“This is the true and remarkable story of private coinage and banking in Britain in the early years of the Industrial Revolution (1775-1850). Making money was a business in demand. The needs of business for small denominations were changing. Merchants needed small denomination coins in copper and silver. The Royal Mint couldn’t be bothered. It…
-
“Financial Reform Bill is a ‘Disaster’: Sen. Gregg”
“The financial regulatory bill is a “disaster,” and its proposed consumer protection agency would create a Fannie and Freddie “on steroids,” Sen. Judd Gregg, R-N.H. told CNBC on Monday. “The bill is a disaster because it doesn’t address the fundamental underlining causes of the economic issue, which were real estate and underwriting,” he said. “This…
-
“Monetary-Policy Disasters of the Twentieth Century”
“The Federal Reserve System was created in 1913 and soon did what central banks almost always do: it started printing lots of money. During World War I the Bank of England inflated its money supply, and as a result a significant amount of gold flowed out of Great Britain to the United States in the…
-
Less is More
It’s absolutely mind-boggling to think that Congress can successfully regulate something as complex as the entire financial industry. I don’t believe it for a second. These are the same legislators who just lost billions in TARP funds. These are the same political leaders who directly and purposefully threw money away on failing companies around the…
-
Applying Hayekian Ideas: Leonard Read and I, Money
“In a recent blog post, Peter Boettke argues that in reading F.A. Hayek it is important to distinguish between Hayek and Hayekianism. Because Hayek, as a lifetime learner, did not always apply his ideas as fully he possibly could have, Hayek the man was at times less willing to take the ideas as far as…
-
“Can the Government Regulate Inflation?”
“In a recent column, Nobel Prize winning economist Paul Krugman claimed that the government needs to have two important duties in finance. First, it must keep interest rates low; second, it must strictly regulate where the newly created money goes. Now, as one who believes that government cannot simultaneously make water run downhill and uphill,…
-
“Did Deregulation Cause the Financial Crises?”
“The growing narrative in Washington is that a decades-long unraveling of the regulatory system allowed and encouraged Wall Street to excess, resulting in the current financial crisis. Left unchallenged, this narrative will likely form the basis of any financial reform measures. Having such measures built on a flawed foundation will only ensure that future financial…
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