Financial Intermediaries: Banking Matters

Imagine selling your house without depositing the money in a bank or taking your savings with you wherever you go. In Myanmar (Burma), this seemingly irrational behavior has been logical. In 1987, when Myanmar’s socialist government became concerned that people…

War and Money

A ship carrying freshly printed Libyan currency was intercepted near the coast of Great Britain. Assuming that it would be used to fund the Gaddafi regime, the British seized the cash and stored it in a “secure location.” Like many…