The Bank Notes Act of 1910
Some recent discussion here on the ALS blog has centred around the issue of private currency, fractional reserve banking (FRB) and the historical role of gold within monetary systems. Whilst some of the associated questions will no doubt get rehashed again and again I would like to focus this article on what I think is the key obstacle to freedom when it comes to the question of private currency.
Currency comes in a multitude of forms. Some alternate categorisations that we might apply to currencies are:-
- Privately issued or Government issued.
- Fiat or Promisory
- Tangible or Electronic
- Paper or metallic
-
Recent Comments
Dom Vasta on Libertarians and elections (an… 
Shem Bennett on Libertarians and elections (an… 
'Nuke' Gray on Libertarians and elections (an… Dom Vasta on Libertarians and elections (an… 
TerjeP (say tay-a) on Libertarians and elections (an… TerjeP (say tay-a) on Libertarians and elections (an… 'Nuke' Gray on Libertarians and elections (an… Shem Bennett on Libertarians and elections (an… 
Brendan Halfweeg on The Santa Claus Governmen… 'Nuke' Gray on The unforgivable stupidity of …
Catallaxy Files- Not all recessions are caused by the Fed February 10, 2012More middle of the night blogging. My economics is classical. The almost perfect overlay of my own book can be found in a series of notes taken by Nicholas Kaldor at the LSE in 1927-29 from lectures delivered by the great American economist, Allyn Young. These notes were only published around a decade ago but [...]Steve Kates
- Where’s Romney? February 10, 2012It is quite extraordinary to watch the American political process up close. Now, I admit I have been busy and I don’t watch much of the television and do not read a lot of the press. But before I arrived the thing I did want to do was see more of Mitt Romney since from [...]Steve Kates
- Keeping tabs on the Climate Commission February 10, 2012Gosh, they’ve been flat out over at the Climate Commission. The last event was 9 November last year – in Alice Springs. We really are getting value for money from all those Climate Commissioners. Really educating the public on the intracies of climate change and computer modelling. But fear not, there are two upcoming events [...]Judith Sloan
- Not all recessions are caused by the Fed February 10, 2012
- inCISe
- More on PHI rebate means test February 10, 2012When I wrote in Incise yesterday, ‘Rebate should not be means tested,’ I did not expect events to move quite as quickly as they have. The government seems confident it has the numbers to get the means test through. I wouldn’t be surprised if Rob Oakshott and Andrew Wilkie have indeed swallowed the government’s nonsensical arguments, but it will be interestin […]Robert Carling
- Quiggin versus Carling and Kirchner February 9, 2012John Quiggin accuses Robert Carling and I of ‘an appalling breach of elementary standards of research’ for not acknowledging that Alberto Alesina’s work on the effectiveness of fiscal stimulus and consolidations is ‘highly controversial.’ In fact, we referenced Alesina’s work precisely because it has featured so prominently in public debate, including in the […]Stephen Kirchner
- Police going too far February 9, 2012According to an article in the Sydney Morning Herald, police are lecturing parents for letting their children walk to the shops or catch a bus on their own, with senior police saying such incidents will be reported to the Department of Community Services (DOCs) if a child is considered at risk. But when is a child ‘at risk’? One mother was told it was inappr […]Sara Hudson
- More on PHI rebate means test February 10, 2012
- IPA news
- Let European dogs lie February 9, 2012Australians will be surprised to learn that, apparently, the federal government now has responsibility to help the city of...
- It's time to bring back the thrift February 9, 2012Ted Baillieu plans to shave 3600 jobs from Victoria's bloated public service. The state of Wisconsin in the US, with a...
- We'll huff, we'll puff, we'll blow the budget into surplus February 8, 2012Bill Clinton famously said, "It's the economy, stupid". So it is. Unsuccessful politicians might be inclined to argue,...
- Let European dogs lie February 9, 2012
