Wednesday Governments push out credit by means of buying bonds. They pay for the bonds by printing debt notes. On their ledger go the bonds as assets and the debt notes as liabilities. What we know as paper ‘money’ are actually IOUs – the opposite of money. When central banks buy bonds, it drives their price up and makes them less available to other market … [Read more...]
Cash Ban Ponderings
First published in the March 2016 edition of The Gold Standard TheGoldStandard63Mar16 Cash dollars have more value than bank account dollars. The many negatives of holding the latter include not only loss of privacy and anonymity, but also a variety of taxes, bank fees, accounting fees, pension considerations, credit card fraud, account hacking and bank insolvency. Most … [Read more...]