I love Terry Pratchett. He is one of my favorite authors, due to mainly to his witty brilliance. As I have been pondering this current economic recession of ours, I decided to re-read his 2007 tale of monetary policy: Making Money.
And I found some rather lovely gems on the nature of money and banking. Here are a few of my favorites:
Conversation between Mr. Bent and Moist von Lipwig
(Mr. Bent) “I would prefer to say that it is a tacit understanding that we will honor our promise to exchange it for a dollar’s worth of gold, provided we are not, in …read more

This morning, there was a great deal of excitement surrounding a press conference that involved several officials (including President Bush) telling us all about how they are going to save our financial system from complete and utter ruin. The key is injecting more capital into banks, so that they will feel better about lending to each other, to businesses and to the rest of us. Bloomberg reports on the main thrust of the moves made today:
“We must restore confidence in our financial system,” Paulson said in a statement in Washington. “The needs of our economy require that our financial institutions …read more