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BBC News – Make foreign currencies legal in UK – Douglas Carswell

Via BBC News – Make foreign currencies legal in UK – Douglas Carswell: A Conservative MP is to call for a basket of foreign currencies to be made legal tender in the UK. Such a move would protect savers by allowing them to hold the currency least likely to be devalued, Douglas Carswell will argue in the Commons. And it would allow consumers to shop around for the best currency deal – perhaps via a smart phone application – when […]

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ConservativeHome’s Platform: Steve Baker MP: The Fed is very nearly bust and it is probably not alone amongst central banks

A review of the US Federal Reserve’s own document: “FEDERAL RESERVE statistical release, H.4.1: Factors Affecting Reserve Balances of Depository Institutions and ?Condition Statement of Federal Reserve Banks”, issued on August 23rd 2011, reveals some interesting information about the state of the Federal Reserve, the US central bank: it’s very nearly bust. As it is indirectly the lynchpin of the global financial system, that matters to the UK. via ConservativeHome’s Platform: Steve Baker MP: The Fed is very nearly bust […]

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Article on the money supply at thejc.com

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Via Honesty is best policy | The Jewish Chronicle, my article on measuring the money supply: Ask economists how much money there is and you will get many answers. You know money is what you can exchange for real goods and services, but economists often include things like time deposits, which cannot be spent because they have fixed terms. Money is one half of every transaction, so its supply really matters. According to my colleague Dr Anthony J Evans of Kaleidic […]

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First in Line for New Money – Doug French – Mises Daily

Via First in Line for New Money – Doug French – Mises Daily: Increases in money aren’t sprinkled from the sky, floating indiscriminately into whoever’s hands are in the right place at the right time. Money-supply increases occur through the commercial banking system and Federal Reserve. Those who receive the money first benefit at the expense of those receiving the money last. “The fiat dollar is an ‘elite’ system,” Jim Grant told the Wall Street Journal recently, “and Wall Street is […]

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Credit expansion and the trade cycle

Via XX. INTEREST, CREDIT EXPANSION, AND THE TRADE CYCLE – – Mises Institute, which I recommend in full, old advice on our present situation: The wavelike movement affecting the economic system, the recurrence of periods of boom which are followed by periods of depression, is the unavoidable outcome of the attempts, repeated again and again, to lower the gross market rate of interest by means of credit expansion. There is no means of avoiding the final collapse of a boom brought […]

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