fiat money

Summary of Jason Erb’s November 4, 2013 Red Ice Radio interview

Here is the summary I prepared of the first hour of my November 4, 2013 interview on Red Ice Radio. 1m – Credit default swaps 3m – The Federal Reserve as the world’s bank 5m – Big economic busts are a direct consequence of the debt-money system with compound interest 5m – Individual interest-based contracts […]

UK Proposal for Banking Reform: Fractional-Reserve Banking versus Deposits and Loans

[Cross-posted at Mises Blog (archived comments below] Austrians and others interested in fractional-reserve banking (FRB) will find of interest a banking reform about to be proposed in the UK. Douglas Carswell, an Austrian economics-informed member of the UK parliament for Clacton, is planning to introduce a so-called “Ten Minute Rule Bill” after Prime Minister’s Questions tomorrow […]