Selgin, George A.

OK, my first thread on misconceptions about the history of bank-issued paper currency, motivated by claims that history shows that the private market can't be entrusted with supplying currency of any sort, including digital currency. Here I deal w/ antebellum U.S. experience.

"The private sector is not involved in creating the money supply, that’s something the central bank does.” Huh? Most "money" is supplied by the private sector; and no-one would be speaking of "digital" dollars were it not for private-market innovation.