This
is a fascinating 15-minute video, where George Selgin criticises the operation
of U.S. monetary policy. In particular,
he criticises the Fed for only engaging in open market operations with primary
dealers (i.e., large stable (?) financial institutions) and only buying and
selling government securities. He
recommends that both these policies be ended and that the Fed stops lending
directly to individual institutions i.e., that it closes its discount window.
According to Robert Shiller , speaking at Davos, Bitcoin is a perfect example of a bubble - story here . Shiller sees Bitcoin as a backwards step in the evolution of money. George Selgin , a free banker, takes an opposing view - click here . Although he doesn't believe that Bitcoin is money, he sees its development as a fascinating turn in the evolution of money. In particular, he lauds the fact that Bitcoin production is constrained and cannot be infinite. There is a short video below where Bitcoin explain how it works.