Economics and Banking – James Tobin 1963 (Redux)

Introduction This essay (unlike the previous) is an unfiltered look at the famous 1963 James Tobin paper on banking: Commercial Banks as Creators of “Money” (1963) http://cowles.econ.yale.edu/P/cm/m21/m21-01.pdf The Tobin paper has been the subject of recent vigorous blogosphere discussion. Steve Waldman has included a list of links at the conclusion of his own excellent postRead More

Bitcoin is a Scam

Great article here about bitcoin price fixing. The article points out this valuation using the size of the bitcoin economy and a reasonable monetary velocity is at most $4 per bitcoin. “: As pointed out by Jon Matonis and others, Automattic’s WordPress bitcoin revenue turned out to be not representative. The BitPay clearinghouse has anRead More