It’s not every evening that you are able to pack a room full of a hundred libertarians on the Upper West Side of Manhattan, let alone at the bastion of leftism that is Columbia University.  But tonight was different, as Loyola Professor and Columbia alum Walter Block was on campus, leading a spirited lecture on [...]

1. The interest rate is a price – the price of credit like the price of any good.  In a free market the price would be set like the price of any good at the intersection of the supply of funds (our savings), and demand for funds (businesses’ and individuals’ investing [...]

On 25 June 2009 I was invited to the Cafe Libertalia to speak at a book club where I was given the latitude to choose the book for discussion.  I picked What Has Government Done To Our Money And The Case For A 100% Gold Dollar by Murray Rothbard. This book is an easy to [...]

“To some extent, commercial bankers lend out their own capital and money acquired by CDs (certificates of deposit). But most commercial banking is “deposit banking” based on a gigantic scam: the idea, which most depositors believe, that their money is down at the bank, ready to be redeemed in cash at any time. If Jim [...]