Archive for June, 2011

What is Bitcoin?

What is Bitcoin?
The bitcoin phenomenon has attracted quite a lot of attention lately. It has been discussed in many blogs and media websites. But what are they? Are they really money? Can they replace actual monetary institutions? Who issues and manages the bitcoins? Does the regression theorem hold, and if so how? What...
June 29th, 2011 | Commentary, Scholars' Corner | Read More

Greece and the Lost Opportunity of the Euro

Greece and the Lost Opportunity of the Euro
With the financial crisis affecting the United States and Europe, here and there are comments and concerns on what could happen with the dollar, the euro and even the international monetary order. With politicians and economists warning that the financial crisis can become the worst economic situation...
June 23rd, 2011 | Commentary, Scholars' Corner | Read More

A Bit of Sound Money: BTC & FRB

A Bit of Sound Money: BTC & FRB
In the argument between proponents of fractional reserve and 100% reserve banking, it often comes down to a moral argument with the Full Reservers usually charging that fractional reserve banking (FRB) is inherently fraudulent because it is placing two full, separate claims on the same item, i.e. a piece...
June 21st, 2011 | Blogs, Commentary, Scholars' Corner | Read More

You’re Pre-Approved! (Tim Geithner’s junk mail)

You’re Pre-Approved! (Tim Geithner’s junk mail)
It goes without saying that finances are tight for many Americans these days. The problem is not only affecting American families at all income levels, but the mighty US government. For a sampling of our government’s fiscal woes, check out this (hypothetical) junk mailer recently found in the inbox...
June 20th, 2011 | Scholars' Corner | Read More

A Bit of Sound Money: Can Trust Be Centrally Planned?

A Bit of Sound Money: Can Trust Be Centrally Planned?
Bitcoins (BTC) have found their way into the news recently, largely as a result of their association with the underground economy via the “Silk Road: Anonymous Marketplace,” and are very much worth examining in a forum dedicated to sound money. They are a completely decentralized, mostly anonymous,...
June 17th, 2011 | Commentary, Scholars' Corner | Read More