Sound Money Project
The Sound Money Project was founded in January 2009 to conduct research and promote awareness about monetary stability and financial privacy. The project is comprised of leading academics and practitioners in money, banking, and macroeconomics.
It offers regular commentary and in-depth analysis on monetary policy, alternative monetary systems, financial markets regulation, cryptocurrencies, and the history of monetary and macroeconomic thought.
For the latest on sound money issues, subscribe to our working paper series and follow along on Twitter or Facebook.
Advisory Board: Steve H. Hanke, Jerry L. Jordan, Lawrence H. White
Director: William J. Luther
Senior Fellows: Nicolás Cachanosky, Gerald P. Dwyer, Joshua R. Hendrickson, Thomas L. Hogan, Gerald P. O’Driscoll, Jr., Alexander W. Salter
Fellows: J.P. Koning
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IRS Summons of Coinbase Undermines Privacy, Discourages Innovation
The IRS is expected to respond to a recent Congressional inquiry into its summoning records from Coinbase, a San Francisco-based digital currency intermediary, by June 7.
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The Institutional Character of Money
On the one hand, money is the language of commerce; money prices are the very medium of economic experience. On the other hand, there seems to be a deeper reality […]
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The Politics of Bitcoin
David Golumbia has a new book titled The Politics of Bitcoin: Software as Right-Wing Extremism. It has received less than stellar reviews from Duke University’s Mike Munger and Bitcoin Magazine’s […]
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The Regression Theorem: Practical Applications
Commodity money can emerge naturally. Fiat monies require some form of sovereign support to get off the ground (though, once they have gained circulation, the fixed exchange rate or sovereign backing can be removed).
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The Regression Theorem: Summary
The value of money today depends on the the value of money yesterday; the value of money yesterday depends on the value of money the day before that; and so on.
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Two Tales of Unintended Consequences of Monetary Policy – Tale 1
Even when a policy is successful in achieving its desired ends, we have to consider its unintended and unforeseen consequences, resulting from cumulative market adjustments to policy changes that make […]
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Is Money Really a Veil?
My previous post was a crash course on the role of prices in a market economy. Importantly, prices are money prices. The vast majority of the time, producers accept the […]
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Escape from the Central Bank Trap
Cheap money becomes very expensive in the long run. In my new book, “Escape from the Central Bank Trap” (Business Expert Press), I explain that central banks are using the […]
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The Rule of Law vs the Rule of Experts
Our worldviews shape the ways in which we approach problems, challenges, and questions. Our “worldviews,” as I refer to them in this post, are so deeply embedded in our minds […]
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Reserve Holdings and the Size of the Fed’s Balance Sheet
Reserves are greater than they were before the crisis because, beginning in 2008, the Fed created more reserves. It did so in the process of expanding its balance sheet. Reserves will not fall—indeed, cannot fall—until the Fed shrinks its balance sheet.
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What the Gold Standard Is and Why Government Killed It
This piece originally appeared in Learn Liberty The gold standard is both a strongly advocated and vehemently opposed monetary regime. Both positions, however, usually rely on misconceptions on what the […]
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Here’s Where All That Chinese Money Came From
Have you read about tens of billions of U.S. dollars — sometimes over $100 billion — “flowing out of China” every month?
