March 2023 Newsletter: A Look at Bank Solvency - Lyn Alden, Mar 13th 2023 Those Dishonest Goldsmiths - George Selgin, Sep 2012 What Is Riba in Islam, and Why Is It Forbidden? - Investopedia, Aug 2022 Rethinking the American Union for the Twenty-First Century - by Donald Livingston et al, Feb 2012ĭouglas, Heron & Company - Wikipedia The Righteous Mind: Why Good People are Divided by Politics and Religion - by Jonathan Haidt, May 2013 Russian defector sheds light on Putin paranoia and his secret train network - The Guardian, Apr 5th 2023Ģ0 years on, memories of the Iraq war may have faded, but it shaped the diminished UK we know today - The Guardian, Mar 12th 2023įinland’s Nato membership poses ‘real dilemma’ for Putin, western officials warn - Yahoo News, Apr 2023ġ952: Michael Malice - The Joe Rogan Experience, Mar 8th 2023 Machinery of Freedom: Guide to a Radical Capitalism - by David I. Milton Friedman: Do-Gooders And Special Interest - LibertyPen, YouTube, 1975Ĭhild abductions in the Russian invasion of Ukraine - Wikipediaīlack Earth: The Holocaust as History and Warning - by Timothy Snyder, Sep 2016 As Matthew asserts in the show: “In the last 100 years, the central bank, the premier banking institution in the United States, has gone to three extremes never ever has happened in recorded history.” Thank god we have Bitcoin. As a result, bailouts for commercial banks are happening with alarming regularity. Further, commercial banks have been allowed to get around the rules of the system for decades. the money supply) and the credit supplied to the economy through commercial banks. At the root of the problem is that central banks control both the base money (i.e. Matthew Mežinskis is able to bring colour to this issue through his peerless analysis of the different types of money flowing through the economy, and how these are currently out of kilter with the economic system they are intended to support. A sovereign debt spiral is a symptom of such centralising control. Further, without competition, those running monopolies distort prices and capital through subjective and misaligned priorities. It is well documented that monopolies often result in market failure due to their constraining of efficiency and innovation. The idea of free banking is re-emerging as a response to the failures of central banks. However, despite some common narratives, it’s demise was more to do with pressure from governments to create monopolies for currency issuance, than inherent weaknesses in the free banking system. It was widespread in the 19th century, but from the early 20th century onwards it was supplanted by central banking in modern economies. The history of free banking goes back over 1,000 years and it has existed in over 60 countries. We also talk about how credit is a natural economic phenomenon, and why narrow banking is centralising in nature. In this interview, we discuss why free banking has always failed due to central bank interference, and how Bitcoin changes the rules of the game. Matthew Mežinskis is the creator of the Crypto Voices podcast and Porkopolis Economics website.
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