Monetary Policy
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Surprise! China Has Inflation Problems…
“In order to avoid the global recession that took hold in 2008, China implemented an aggressive stimulus policy. Credit was made plentiful and the inflation machine kept on chugging. The amount of foreign capital attracted to China’s continued growth helped to push prices of real property higher and higher.” Read more. Surprise! China Has Inflation…
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“Dollar Sinks Amid Fed Speculation…”
“The dollar weakened against 15 of 16 major peers, losing at least 1.5 percent versus currencies including the Australian dollar and Swedish krona. The U.S. currency has depreciated more than 3 percent versus all 16 major counterparts since the end of August, falling more than 10 percent versus the euro and Australian dollar, as speculation…
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“100 Percent Reserve Money: The Small Change Challenge” – George Selgin
“In a free market economy from which fiduciary media are excluded, economic progress will be limited, perhaps severely, by the high cost and correspondingly limited supply of small-denomination money—money that is needed to accomplish retail and other low-value exchanges. Historically, fiduciary token coins have proven to be the only practical means for addressing the small…
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“Federal Reserve State of Play”
“For many, Fed Chairman Ben Bernanke’s speech at the Boston Federal Reserve Bank conference last Friday confirmed expectations that renewed quantitative easing will definitely be approved at the Nov. 2-3 Federal Open Market Committee meeting. “QE2” advocates seized on his comment that high unemployment and low inflation make “a case for further action,” although that…
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“Politics and the Fed”
“The threat of politicization hangs over the Federal Reserve Board like the Sword of Damocles. It’s Capitol Hill’s response to the Fed’s proliferation of new programs to unglue credit markets. The Fed’s innovations threaten to create enough acronyms to tax the limits of the alphabet.” Read more. “Politics and the Fed” Alfred Tella The Washington…
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“The Fed and Politics”
“Politically oriented monetary policies and business cycles are the inevitable by-products of a central bank, the ultimate favored banking institution which is viewed as a savior by some politicians facing elections. After the elections comes the bill: Inflation runs amuck. The nation goes into a painful recession, or the stock market crashes. Whatever the extent…
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“How the Fed Is Holding Back Recovery” – David Malpass
“Whether in Republican or Democratic administrations, the Washington policy consensus for a decade has been “print and spend.” When that doesn’t work, the Washington prescription is to double the dose—more monetary easing and dollar devaluation, and always more government spending. The Fed in particular has become accustomed to subsidizing federal borrowing by holding interest rates…
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“Money and Finance in the Confederate States of America”
“The Confederacy then turned to debt issue as a means of war finance. The South successfully sold some long-term government securities during the early stages of the war. Bond issues proved a limited source of war financing as Southern prospects diminished, however. Investors increasingly shied away from purchasing securities offered by a government with little…
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Currency Chaos: Where Do We Go From Here? – Judy Shelton
‘The most important initiative you could take to improve the world economy would be to stabilize the dollar-euro rate.’Global monetary relations are in disarray. Exchange rates fluctuate wildly among the world’s major trade partners, spawning talk of protectionism and a currency war. Gold is soaring as the dollar slides, and economists debate whether the biggest…
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Limited Purpose Banking?
by Jerry O’Driscoll The following is a book review from the Cato Journal, Vol. 30, No. 3 (Fall 2010). Jimmy Stewart Is Dead: Ending the World’s Ongoing Financial Plague with Limited Purpose Banking Laurence J. Kotlikoff (Hoboken, N.J.: John Wiley & Sons, 2010, 241 pp.) Chapter 1 of the book is titled “It’s a Horrible…
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Surprise! China Has Inflation Problems…
“In order to avoid the global recession that took hold in 2008, China implemented an aggressive stimulus policy. Credit was made plentiful and the inflation machine kept on chugging. The amount of foreign capital attracted to China’s continued growth helped to push prices of real property higher and higher.” Read more. Surprise! China Has Inflation…
-
“Dollar Sinks Amid Fed Speculation…”
“The dollar weakened against 15 of 16 major peers, losing at least 1.5 percent versus currencies including the Australian dollar and Swedish krona. The U.S. currency has depreciated more than 3 percent versus all 16 major counterparts since the end of August, falling more than 10 percent versus the euro and Australian dollar, as speculation…
-
“100 Percent Reserve Money: The Small Change Challenge” – George Selgin
“In a free market economy from which fiduciary media are excluded, economic progress will be limited, perhaps severely, by the high cost and correspondingly limited supply of small-denomination money—money that is needed to accomplish retail and other low-value exchanges. Historically, fiduciary token coins have proven to be the only practical means for addressing the small…
-
“Federal Reserve State of Play”
“For many, Fed Chairman Ben Bernanke’s speech at the Boston Federal Reserve Bank conference last Friday confirmed expectations that renewed quantitative easing will definitely be approved at the Nov. 2-3 Federal Open Market Committee meeting. “QE2” advocates seized on his comment that high unemployment and low inflation make “a case for further action,” although that…
-
“Politics and the Fed”
“The threat of politicization hangs over the Federal Reserve Board like the Sword of Damocles. It’s Capitol Hill’s response to the Fed’s proliferation of new programs to unglue credit markets. The Fed’s innovations threaten to create enough acronyms to tax the limits of the alphabet.” Read more. “Politics and the Fed” Alfred Tella The Washington…
-
“The Fed and Politics”
“Politically oriented monetary policies and business cycles are the inevitable by-products of a central bank, the ultimate favored banking institution which is viewed as a savior by some politicians facing elections. After the elections comes the bill: Inflation runs amuck. The nation goes into a painful recession, or the stock market crashes. Whatever the extent…
-
“How the Fed Is Holding Back Recovery” – David Malpass
“Whether in Republican or Democratic administrations, the Washington policy consensus for a decade has been “print and spend.” When that doesn’t work, the Washington prescription is to double the dose—more monetary easing and dollar devaluation, and always more government spending. The Fed in particular has become accustomed to subsidizing federal borrowing by holding interest rates…
-
“Money and Finance in the Confederate States of America”
“The Confederacy then turned to debt issue as a means of war finance. The South successfully sold some long-term government securities during the early stages of the war. Bond issues proved a limited source of war financing as Southern prospects diminished, however. Investors increasingly shied away from purchasing securities offered by a government with little…
-
Currency Chaos: Where Do We Go From Here? – Judy Shelton
‘The most important initiative you could take to improve the world economy would be to stabilize the dollar-euro rate.’Global monetary relations are in disarray. Exchange rates fluctuate wildly among the world’s major trade partners, spawning talk of protectionism and a currency war. Gold is soaring as the dollar slides, and economists debate whether the biggest…
-
Limited Purpose Banking?
by Jerry O’Driscoll The following is a book review from the Cato Journal, Vol. 30, No. 3 (Fall 2010). Jimmy Stewart Is Dead: Ending the World’s Ongoing Financial Plague with Limited Purpose Banking Laurence J. Kotlikoff (Hoboken, N.J.: John Wiley & Sons, 2010, 241 pp.) Chapter 1 of the book is titled “It’s a Horrible…
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