Free Banking is now Alt-M

The Free Banking blog was a venue for leading free banking advocates to share their insights with the world. This illustrious cast includes academics, public policy experts, government officials, and rabble rousers. Guest bloggers will feature financial gurus, entrepreneurs, historians, celebrities, and many other different perspectives.

Alt-M is a blog devoted to exploring and promoting ideas for an alternative monetary future. Our goal is to reveal the shortcomings of today’s centralized, bureaucratic, and discretionary monetary arrangements, and to bring serious consideration of real alternatives to the center stage of current monetary and financial reform debates. is a joint project of the Cato Institute’s Center for Monetary and Financial Alternatives and the Liberty and Privacy Network’s Center for Financial Privacy and Human Rights.

Free Banking is now Alt-M

This issue of the Cato Journal is dedicated to Allan H. Meltzer who passed away on May 8, 2017. Allan spoke at the 1st Annual Monetary Conference in 1983 and many thereafter. He was a frequent contributor to the Cato Journal, a friend, and mentor. He will be sorely missed….

The post New Release: Cato Journal on The Future of Monetary Policy appeared first on Alt-M.

Last month, in what will presumably be one of his last public speeches before he retires this June, New York Fed President William Dudley defended the Fed’s current “floor” system of monetary control against the alternative of a corridor arrangement. Because Dudley’s is one of the more…

The post Dudley’s Defense of the Fed’s Floor System appeared first on Alt-M.

In the long, tragic chronicle of the Great Recession, April 30, 2008, doesn’t resonate as an infamous date. It lacks the notoriety of March 16, 2008, when, by guaranteeing $30 billion of Bear Stearns’ assets, the Federal Reserve crossed a last-resort lending Rubicon, extending its safety net…

The post Anniversary of a Fed Blunder appeared first on Alt-M.

When the New York Attorney General launched an inquiry into cryptocurrency exchanges last week, his office cited “significant volatility, instability, and risk” as motivating factors for the probe. This echoes statements by International Monetary Fund chief Christine Lagarde and Agustín Carstens of the Bank for International Settlements….

The post Are Cryptoassets as Risky as Policymakers Think? appeared first on Alt-M.

The world has lost one of its greatest monetary economists ever: Leland Yeager (b. 1924) has passed away, and boy will I miss him. Leland’s writings on monetary economics taught me a big chunk of all that I know about the subject. Among other things, they gave…

The post Leland Yeager, R.I.P. appeared first on Alt-M.

Last week the White House announced that Richard Clarida will be nominated to become Vice Chair of the Federal Reserve Board. More than a month ago, Clarida became the front-runner for the role. He is widely seen as a centrist and a pragmatist holding mostly conventional views…

The post Clarida Nomination Completes the Fed’s Triumvirate appeared first on Alt-M.

Those who follow cryptocurrencies will know that an initial coin offering (ICO) refers to the issuance of digital tokens to finance a blockchain-based venture. They will also know that the legal status of tokens is an ongoing discussion among market participants and regulators. ICOs have attracted policymakers’…

The post The Legal Status of ICOs: New Insights from Economic Theory appeared first on Alt-M.

The Federal Reserve Bank of New York has made its decision. On June 18 of this year John Williams, currently serving as the President of the Federal Reserve Bank of San Francisco, will succeed William Dudley as New York Fed President. This decision will have many ramifications…

The post From Silicon Valley to the Big Apple: John Williams Named Next NY Fed President appeared first on Alt-M.