Month: August 2020

The Panic of 1907 was a period of monetary contraction leading to a financial/banking crisis which set the tone for the creation of a central bank in the United States (The Federal Reserve). The panic…

Many people mistakenly blame our current financial crises on fractional reserve lending. I believe this is an incorrect position. By definition, any lending institution is to some degree under-collateralized. This simply must be the case….

With all the recent talk about systemic inequalities it’s helpful to remember the words of Milton Friedman: “Inflation is taxation without legislation”. We’ve discussed a great deal in the past how inflation redistributes wealth to…

The Florin was a gold coin struck in Florence Italy from 1252 to 1533. Containing 0.1125 troy ounces of find gold, the metal content and design of the coin did not change during the near…