Saturday, 20 December 2014

Uncategorized

Do higher reserves reduce bank risk?

Posted by Thomas L. Hogan
November 10, 2014

During the 2008 financial crisis, many banks became illiquid and did not have enough cash reserves to pay their debts. The Fed responded to the liquidity shortage by paying banks to hold more reserves. The policy of paying interest on reserves (IOR) is intended to make banks safer, but can higher reserves actually increase risk? […]

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Most of the team of the Atlas Sound Money Project attended the Cato Institute Monetary Conference. Dr. Judy Shelton, co-director of the project spoke on “Building an Orderly and Ethical International Monetary System,” Senior fellow, Dr. Jerry L. Jordan, who knows more than any other person I know how the Fed interacts with banks spoke on “The Role of Gold in a Market-Based Monetary System” and former Atlas trustee Dr. Gerald P. O’Driscoll Jr. presented a paper on “Monetary Reform: Process and Substance.”

Several members of the Sound Money Project team, including talented young academics Nicolás Cachanosky, winner of the 2nd Prize in the Mont Pelerin Society Hayek Essay contest, William Luther (Kenyon College), Thomas Hogan (Troy University, and Gonzalo Schwarz (Atlas Network) were able to network and strategize about how best to embark on the road to sound money.

Congratulations and gratitude to James A. Dorn, George Selgin, John Allison, and others for the outstanding conference.

Sound Money team

In Memoriam: Leonard Liggio

October 14, 2014

Leonard P. Liggio, Executive Vice President of Academics at Atlas Network, passed away October 14, 2014 at the age of 81. Leonard’s career advancing liberty spanned seven decades, during which time he served as the President of the Mont Pelerin Society, the Philadelphia Society, and the Institute for Humane Studies, where he later continued to […]

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A model for a free market monetary reform

August 26, 2014

Despite the approval and respect central banks receive around the world, it is questionable that even the best of them managed to outperform previous monetary institutions (see, for instance, here). It is not uncommon to see free market advocates to call for a return to the gold standard. The intention is no other than a […]

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Friedman vs. Hayek on currency competition

August 22, 2014

In a recent post, co-blogger Jerry Jordan refers to the “new monetary scheme” offered by Friedrich Hayek in the mid-1970s. Hayek outlined his proposed reform in Choice in Currency (1976) and Denationalisation of Money (1976). Milton Friedman and others were quick to point out its shortcomings. I’ve written a bit more on the exchange between […]

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