The hottest Monetary Systems Substack posts right now

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ONE YEAR (& SIXTEEN YEARS) AGO ON GRASPING REALITY: The Panic of 1825

Brad DeLong's Grasping Reality • 169 implied HN points • 29 May 25
💰 Finance Banking Economic Policy Financial Crisis Investment Monetary Systems
  1. The 1825 Panic marked a key moment in the development of modern central banking. It showed how banks can turn to a central authority for help during financial crises.
  2. The Bank of England stepped in during the 1825 financial turmoil to prevent a collapse of the banking system. This was a major shift, highlighting the importance of central banks in managing economic stability.
  3. The actions taken during the panic helped restore confidence in the financial system. When people began to trust that banks were safe again, the economy slowly recovered.

Would Lenin have approved of the IMF?

Global Inequality and More 3.0 • 1328 implied HN points • 16 Nov 24
💰 Finance Economic Policy Monetary Systems Global Economy Financial Institutions
  1. The IMF has a specific role in ensuring countries maintain fiscal discipline and avoid excessive borrowing. This role is seen as necessary for economic stability, regardless of whether the system is capitalist or socialist.
  2. Critics often misunderstand the IMF's core mission, which is about discipline and accountability in fiscal matters. Austerity measures taken by the IMF are not inherently bad; they are meant to promote responsible economic behavior.
  3. If Lenin were alive today, he might actually support the IMF for its emphasis on fiscal responsibility and international trade management. He believed in the need for structured economic governance, similar to what the IMF provides.

Top Links 630 Flexible exchange rates, fear of floating, Goldfinger & the reality of the global exchange rate system.

Chartbook • 414 implied HN points • 26 Jan 25
💰 Finance Economic Policy Global Economy Monetary Systems Financial Markets
  1. Flexible exchange rates can cause uncertainty, which some countries try to avoid, leading to a 'fear of floating'.
  2. The discussion around the realities of the global exchange rate system helps us understand how it impacts economies worldwide.
  3. Lessons from past conferences on floating exchange rates are valuable for grasping their long-term effects and challenges.

Money as Addiction

Altered States of Monetary Consciousness • 864 implied HN points • 15 Mar 24
💰 Finance Monetary Systems Economic History Currency
  1. Addiction can distort our sense of agency, making us act out of instinct rather than choice.
  2. Solutionism creates a narrative that presents our dependencies as voluntary choices, leading to a cycle of justification for those dependencies.
  3. Monetary systems, like addiction, can create a state of involuntary dependence presented as a state of voluntary choice, reshaping our societies and individual lives.

De-dollarization is about more than currencies: As dollar system declines, what comes next?

Geopolitical Economy Report • 378 implied HN points • 03 May 23
🌍 World Politics Economic Systems Monetary Systems Political Economy Global Trade Financialization
  1. De-dollarization is a shift away from the US dollar system towards a new economic system based on reducing imbalances and promoting balanced economic growth.
  2. The current crisis in the dollar system is exposing vulnerabilities, such as declining capital inflows and the need for central bank intervention to prop up asset markets.
  3. The future economic system may involve a mixed public-private economy, government intervention in strategic sectors, and capital controls to prevent financialization and promote productive expansion.
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The Case for Fiat

The Dollar Endgame • 159 implied HN points • 23 Sep 23
💰 Finance Monetary Systems Economic Theory Financial Literacy Cryptocurrency Wealth Inequality
  1. The fiat system's survival doesn't depend on morality, as history shows evil systems have persisted. People may feel powerless against organized evil but may also become complicit in it.
  2. The fiat system, flawed as it is, has worked to lift many out of poverty and fuel innovation. Everyday citizens often lack the financial and political knowledge to make informed decisions about the system.
  3. Bitcoin's adoption faces hurdles as the majority may not share the beliefs of its proponents. Transitioning to a new system might lead to short-term pain and disparities, impacting various demographics differently.

Zero is the Future of Money

Altered States of Monetary Consciousness • 5 HN points • 26 Jun 23
💰 Finance Crypto Decentralization Monetary Systems
  1. Mainstream money system is hierarchical and dynamic, with layers of players issuing, transferring, and redeeming money.
  2. Crypto tokens offer a rigid decentralization approach and fixed supply, but struggle to compete with the flexibility and dynamism of fiat money.
  3. A synthesis could involve blending the dynamism of credit money systems with the decentralized approach of crypto to create a more dynamic and liquid decentralization.

It's All About the Khans, Baby!

Homo Ludens • 0 implied HN points • 17 Apr 24
💾 History Monetary Systems
  1. Late medieval Chinese were advanced in creating financial tools like paper money, prevalent in China but unfamiliar in medieval Europe.
  2. Gold and silver weren't always the main forms of currency in history; many medieval economies relied on virtual currency or silver over gold.
  3. The gold standard was a socially constructed system whose significance varied by context, with silver being more significant than gold for much of ancient and medieval times.