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Operation Twisted Logic – Detlev Schlichter


Via Operation Twisted Logic, an article by Detlev Schlichter, author of Paper Money Collapse: The Folly of Elastic Money and the Coming Monetary Breakdown: … Like all state bureaucracies, the Fed is in fact struggling with problems that are predominantly of its own making. The Fed is the reason we are in this crisis. Or, more specifically, the present economic crisis is the inevitable consequence of the political decision to adopt a system of unconstrained, constantly expanding fiat money, in which the […]

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Niall Ferguson reviews “Lords of Finance”


Via The great liquidity crisis – 94 years ago, Niall Ferguson provides an instructive review of Lords of Finance: 1929, The Great Depression, and the Bankers who Broke the World: By the summer of 1931, however, it was dawning even on Norman that the world economy was falling off a cliff. With massive bank failures on both sides of the Atlantic, it became clear that the Lords of Finance had bungled things. “Unless drastic measures are taken to save it,” he […]

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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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