Some Hope Amidst The Countdown

In October, YouGov partnered with the Victims of Communism Memorial Foundation to conduct the latter’s annual poll on US attitudes towards socialism. There was, as usual, some good and bad news contained within the results. The number of overall Americans who believe communism was and is still a problem, for example, rose 5 points to…


Where Do We Begin? Define What It Means To Be A Bank

It may sound overly basic, but the times being what they are there is a very well deserved need to be elementary about certain things again. That starts with banks and really defining what is and is not one. When money was money, banking was a very simple procedure, though not quite so stylized and…

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Financialism, Not Capitalism

Thirty-nine delegates signed the United States Constitution in September 1787, but three refused to. George Mason, Edmund Randolph, and Elbridge Gerry were against the final draft of the document, Gerry included even though he had chaired the committee that had produced the Great Compromise. Campaigning in his native Massachusetts, the former Revolutionary who had previously…


Elements Of Money

When life gives you lemons you intend to make lemonade, but in days long gone they often had to make due only with what was on hand. Some of the greatest scientific discoveries were by pure accident, though I doubt many (or any) were as plain unsanitary as Hennig Brand’s discovery. He had been looking…

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Where Do We Begin? No More Targets

In the seventeenth episode of the second season of the Comedy Central cartoon South Park, the show introduces one of its longest lasting memes that has survived despite the first airing being nearly twenty years ago, and all the vulgarity and seemingly gratuitous violence in between. Titled Gnomes, we find one of the main character’s…


Where Do We Begin? Thinking Seriously About Convertibilty

Throughout Milton Friedman’s (and Anna Schwartz) seminal book A Monetary History he tries to make the case that suspension of convertibility would have alleviated much of the suffering of the Great Depression. It had in the past worked in that sort of capacity, choking off the suffering of systemic runs just enough so that emotion…

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What Comes Next; Part 2, The Looming Transformation

Part 1 is here, the history of defining systemic operation since 1907. The quest over equality or the “right” to impose optimal outcomes is one that cannot go backward. The inevitable failures lead no duty to re-assess overall, but only the means by which the results are to be commanded. That was the essence of…


What Comes Next; Part 1, Useful History of the 20th Century

Value as a foundation seems almost too literal to be an economic or financial concept, but it is perhaps the bedrock association that makes the economic system. We are used to aspects like profits and money, even inflation, but those are all symptoms of the ever-changing world surrounding value. Karl Marx understood very well how…


Rather Than All Efforts Aimed At Making Central Banks More Efficient

Leave it to a self-described socialist to undermine his own argument. Decrying the apparent overabundance of personal hygiene and fashion, presidential candidate Bernie Sanders took to confounding as to how many ways evil capitalism could produce odor-altering products but leave so many so hungry. You don’t necessarily need a choice of 23 underarm spray deodorants…


Baby Steps and Lessons from Jupiter

For the longest time, Jupiter was never thought to play much of a role in celestial mechanics of the much smaller scales in the solar system. Comets and asteroids may not seem to be significant to solar reality, but to those of us that reside on Earth there is much to appreciate about even planetary…