BankNotes – April 2015

Surely, by this time in your life, you have a deepseated feeling that there is something fundamentally wrong in the financial world today. There is debt of unbelievable proportions! There is confused thinking that results in irrational behavior as a matter of course.

Read More »

BankNotes – March 2015

One of the great debates today between left and right is whether government stimulus is worth it. The left says “yes, early and often.” And the right says “only in the right circumstances.” Unsurprisingly, both left and right are completely off — stimulus is the quickest way to impoverish an economy.

Read More »

BankNotes – February 2015

The IBI Board of Directors consisting of Carlos Lara, Robert Murphy, David Stearns, and, begrudgingly Nelson Nash, voted unanimously to rename the institute. We made the initial announcement at the annual IBC Practitioners Think Tank held last week. The institute’s new logo is based on the flame of knowledge, and integrates the letter “N”. With the change, we codified our mission and vision statements.

Read More »

BankNotes – January 2015

Radio talk show host Dave Ramsey has made a national name for himself guiding people out of debt. I occasionally listen to his show (Ramsey and I both live in Nashville), and I applaud much of what he tells his listeners. In particular, Ramsey stresses the importance of having a specific budget and communicating with one’s spouse about money.

Read More »

BankNotes – December 2014

There is a reason for our mess. We are now reaping the bitter harvest of the poisonous seed sowed intermittently during the past. We are experiencing bad effects whose causation can be traced to the employment of wrong means. We suffer the natural consequences of our folly, which proves once again that the universe is rational. To state this in another way, if improper methods did not lead to failures, we would really have a problem.

Read More »

BankNotes – November 2014

Very few Americans have paid enough close attention to the particulars of a law that began to be formulated shortly after the financial crisis of 2008 and was ratified January 21, 2010. This lack of awareness on the part of the public is certainly understandable. First of all, you don’t see much of it in the news and, secondly, who would want to take the time to read it or struggle trying to understand it?

Read More »

BankNotes – October 2014

It should be evident to most people that the last 100 years have been very violent in the financial world. Why? What happened to cause all this turbulence? During this period we have witnessed the bloodiest century of all time. Two World Wars. Endless smaller wars all over the earth. An influenza epidemic after WWI.

Read More »

BankNotes – September 2014

Today, capitalism is blamed for our current disastrous economic and financial situation and a history of incessant booms and busts. Support for capitalism is eroding worldwide. In a recent global poll, 25 percent (up 2 percent from 2009) of respondents viewed free enterprise as “fatally flawed and needs to be replaced.” The number of Spaniards who hold this view increased from 29 percent in 2009 to 42 percent, the highest amongst those polled.

Read More »

BankNotes – July 2014

The production of money in a free society is a matter of free association. Everybody from the miners to the owners of the mines, to the minters, and up to the customers who buy the minted coins — all benefit from the production of money. None of them violates the property rights of anybody else, because everybody is free to enter the mining and minting business, and nobody is obliged to buy the product.

Read More »