The three lives of Japanese military pesos

The three lives of Japanese military pesos

| backing theory of money, cash, Gresham's Law, inflation, Japan, quantity theory of money, unit of account

1942 Japanese Invasion Philippines Peso with a JAPWANCAP Stamp In his reply to Mike Sproul, Kurt Schuler brings up the question of the dete...

Friends, not enemies: How the backing and quantity theories co-determine the price level

Friends, not enemies: How the backing and quantity theories co-determine the price level

| backing theory of money, liquidity premium, Mike Sproul, moneyness, quantity theory of money

Kurt Schuler was kind enough to host a Mike Sproul blog post, which I suggest everyone read. I think Mike's backing theory makes a lo...

The rise and fall (and rise) of the hot potato effect

The rise and fall (and rise) of the hot potato effect

| backing theory of money, convenience yield, hot potato effect

Don Randi Trio +1 at the Baked Potato , Poppy Records, 1971. [ link ] In this post I'll argue that: 1. When it comes to financial asset...