This paper is an attempt to synthesize the classical Misesian argument for the impossibility of economic calculation in socialism with the Mises-Hayek credit cycle theory. The key concepts of the ABCT such as “interest rate” and “natural interest rate” have been traditionally defined for a barter economy, which made it very difficult to integrate them with the monetary theory of economic calculation. The focal point of the synthesis proposed here is Mises’s regression theorem in which he showed that money can be understood only as a commodity that has to be independently demanded for industrial and consumption purposes prior to establishing itself as a medium of exchange. It is shown that abandoning of the pure gold standard is just a special and limited case of the general problem Mises originally explored in the context of the debate on socialism – abolishing of the private property rights that leads to “incalculability” in the economic system. The main finding of the paper is that maturity mismatching and fractional reserve banking in a similar way bring about the inconsistent time structure of private property rights in money, and distort the economic calculation that way. Hence, the necessary condition for both the rational economic calculation and the avoidance of business cycle is the presence of a 100% reserve commodity money that is privately owned, the full-banking reserve as well as the private property in the means of production and the absence of maturity mismatching.