Miguel C.’s Reviews > The Economics and Ethics of Private Property: Studies in Political Economy and Philosophy > Status Update

I'm at that part where Selgin and White get BTFO in the most legendary way imaginable.

"Only a system of universal commodity money (gold), competitive banks, and 100-percent-reserve deposit banking with a strict functional separation of loan and deposit banking constitutes a just monetary system that can assure economic stability and present a genuine answer to the current monetarist fiasco."

from Chapter 6, "How is Fiat Money Possible? — or, The Devolution of Money and Credit"