I’ll start with a confession. After about 10 years of reading Austrian economics, attending events at the Mises Institute, studying carefully through Human Action and completing my coursework for a Masters in Political Economy, I still find central banking a bit mysterious. Ask me about price controls, monopoly theory, value theory, international trade or just about any other economic topic and I should be able to give you an impromptu lecture that would be fairly satisfactory. But bring up M1, M2, velocity of money and so forth and you’ll see that "deer caught in the headlight" look start to come … Continue reading Socialist Money