Sound Banking
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“Monetary Theory and the Trade Cycle” – F.A. Hayek
“It seems certain, however, that we shall merely make matters worse if we aim at curing the deflationary symptoms and, at the same time (by the erection of trade barriers and other forms of state intervention) do our best to increase rather than to decrease the fundamental maladjustments. More than that: while the advantages of…
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“Surging Inflation Spurs Debt Concern in 2012, Swaps Show: Argentina Credit”
“The third-highest inflation rate in the world is making investors less confident in Argentina’s ability to keep up economic growth and repay debt beginning in 2012, credit default swaps show. Five-year contracts that protect investors against a default by Argentina cost 123 basis points, or 1.23 percentage points, more than two-year swaps on Oct. 15,…
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“China Hides Rampant Inflation in Money Binge”
“When money is created at a faster rate than real economic growth, the result is inflation. Yet so far this year, China’s official statistics show consumer inflation at barely over 3 percent. Those figures have many economists scratching their heads, wondering where the inflation went, while most people in China seem content to believe their…
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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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“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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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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Land of Confusion
I thought that I would offer a run-through of what the government and the Fed have done to help us out during our troubled economic times. It is, of course, not a complete list, but it may be interesting to think about when you ask yourself why the latest recession went so badly. 1) Both…
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“It’s the Money, Stupid”
“At the moment, Republican leaders and policy elites are advancing exclusively fiscal solutions that address only the government response to the economic crisis and not the crisis itself. Fiscal deficits did not create the crisis, and reducing deficits won’t put our economy on a stable footing. From its inception in 2007 right up to the…
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Central Banking, Limited Purpose Banking, Free Banking…
“But if the problem isn’t in the application of the system, but it is the system, then all efforts to reform practice will fail, and fail miserably. This is what we believe the logic of economic argument leads one to conclude about central banking and government monopoly over the currency. We also believe that the…
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“Blame Central Banking Not Banks”
“Too much money leads first to a boom and then a terrible bust. Re-stimulation continues the process and makes economic imbalances worse over time until finally the whole system begins to collapse and something else emerges. We are in a collapse phase currently. The problems begin and end with mercantilist central banks. Absent central banks…
-
“Monetary Theory and the Trade Cycle” – F.A. Hayek
“It seems certain, however, that we shall merely make matters worse if we aim at curing the deflationary symptoms and, at the same time (by the erection of trade barriers and other forms of state intervention) do our best to increase rather than to decrease the fundamental maladjustments. More than that: while the advantages of…
-
“Surging Inflation Spurs Debt Concern in 2012, Swaps Show: Argentina Credit”
“The third-highest inflation rate in the world is making investors less confident in Argentina’s ability to keep up economic growth and repay debt beginning in 2012, credit default swaps show. Five-year contracts that protect investors against a default by Argentina cost 123 basis points, or 1.23 percentage points, more than two-year swaps on Oct. 15,…
-
“China Hides Rampant Inflation in Money Binge”
“When money is created at a faster rate than real economic growth, the result is inflation. Yet so far this year, China’s official statistics show consumer inflation at barely over 3 percent. Those figures have many economists scratching their heads, wondering where the inflation went, while most people in China seem content to believe their…
-
“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…
-
“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…
-
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…
-
Land of Confusion
I thought that I would offer a run-through of what the government and the Fed have done to help us out during our troubled economic times. It is, of course, not a complete list, but it may be interesting to think about when you ask yourself why the latest recession went so badly. 1) Both…
-
“It’s the Money, Stupid”
“At the moment, Republican leaders and policy elites are advancing exclusively fiscal solutions that address only the government response to the economic crisis and not the crisis itself. Fiscal deficits did not create the crisis, and reducing deficits won’t put our economy on a stable footing. From its inception in 2007 right up to the…
-
Central Banking, Limited Purpose Banking, Free Banking…
“But if the problem isn’t in the application of the system, but it is the system, then all efforts to reform practice will fail, and fail miserably. This is what we believe the logic of economic argument leads one to conclude about central banking and government monopoly over the currency. We also believe that the…
-
“Blame Central Banking Not Banks”
“Too much money leads first to a boom and then a terrible bust. Re-stimulation continues the process and makes economic imbalances worse over time until finally the whole system begins to collapse and something else emerges. We are in a collapse phase currently. The problems begin and end with mercantilist central banks. Absent central banks…
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