Demystifying banking

The banking sector is the Achilles Heel of the economy.

Note:  If you become an annual paid subscriber, you will receive an autographed copy of my memoir.

By now, everyone in America who has a TV, newspaper or Internet access knows about the bankruptcies of Silicon Valley Bank and Signature Bank and the Biden bailout.  The number of articles and commentaries must be in the hundreds. 

A few succinct articles about the SVB and Signature collapses and about the banking sector in general are https://mises.org/wire/yes-latest-bank-bailout-really-bailout-and-you-are-paying-it,https://mises.org/wire/bank-crisis-was-predictable-was-fed-lying-or-blind, https://www.fff.org/2023/03/14/why-not-let-banks-fail/, and https://mises.org/wire/how-easy-money-killed-silicon-valley-bank. These insightful essays about the Federal Reserve’s money creation, the flaws of borrowing short and lending long, and bank mismanagement explain the occasional bank failures that make sensational financial headlines. 

The Fed was created to end banking panics.  And if there should be one, the Fed would step in to be the lender of last resort to shore up the banking system.  The best overall history of American banking was written by Murray Rothbard, The Mystery of Banking, a book students read in my Financial History of the US course. 

Rothbard demystifies banking and gives readers a first-rate education about how banking problems stem from the fact it is not a free market business.  The fact that depositors have a federal government agency “insuring” their deposits is proof that banks need the government to protect them, which allow bankers to make risky loans by borrowing short and lending long.   

For the past three days I have been interviewed on radio and TV stations in major media markets, Chicago, Arizona, Connecticut, Colorado, Pittsburg, Iowa, as well as syndicated radio shows explaining the Fed’s counterproductive easy money policies and the banking sector’s flawed business model. 

In Arizona I was interviewed for an hour on Liberty Watch hosted by Charles Heller, https://0i.b5z.net/i/u/1219065/m/3_12_23_Murray_Sabrin_Frm_Immigrant_to_Intellectual_49.32.mp3.  We discussed numerous issues.  Enjoy!

Since I retired from Ramapo College on July 1, 2020, I am in my post college teaching career.  My Restore Free Markets, Limited Government and a Noninterventionist Foreign Policy media tour is being well received by talk show hosts across America.  They all indicated I would be welcome for encore interviews.

Boosting sales of the six books I have written would help go a long way in educating the American people about free markets, civil liberties, and peace.  The last four books were written since I retired nearly three years ago. 

Now is the time to expose the hideous welfare-warfare state and the toll it is taking on the American people and world peace.

Murray Sabrin, PhD, is emeritus professor of finance, Ramapo College of New Jersey. Dr. Sabrin is considered a “public intellectual” for writing about the economy in scholarly and popular publications. His new book, The Finance of Health Care: Wellness and Innovative Approaches to Employee Medical Insurance (Business Expert Press, Oct. 24, 2022), and his other BEP publication, Navigating the Boom/Bust Cycle: An Entrepreneur’s Survival Guide (October 2021), provides decision makers with tools needed to help manage their businesses during the business cycle.  Sabrin's autobiography, From Immigrant to Public Intellectual: An American Story, was published in November, 2022.