Via The Austrians Were Right, Yet Again, Jeffrey A. Tucker sets out the way it is in the USA: After three-plus years of floundering around, a consensus has finally arrived that we are back in recession. Growth is not happening. The meager statistical growth of the past few years — […]
Read MorePost Tagged with: "Money"
Inflation and government borrowing
In his short article Inflation and You, Ludwig von Mises explains inflation itself, the social and economic effects of inflation, who inflation’s victims are, the futility of attempts to hedge against inflation, the moral and political effects of inflation and, finally, inflation and government borrowing. I thoroughly recommend the whole article, […]
Read MoreAnother £10bn to the IMF?
Yesterday, a statutory instrument committee was asked to decide to agree another £10bn for the IMF. With others, I crashed the committee and spoke. You can find the debate here. In addition to rejecting bailouts, I attacked the IMF before questioning our fundamental monetary arrangements. Here’s the section on the […]
Read MoreMust read, paywall or not: Fame & fortune: Why I bet the ranch on cattle
In today’s world it’s impossible to be a saver. You’re forced to be a speculator because cash is being undervalued by governments through quantitative easing (QE) [printing money]. I buy hard assets, such as commodities, although there are few bargains anymore. via Fame & fortune: Why I bet the ranch […]
Read MoreWhat Is Money? – Frederic Bastiat – Mises Daily
Anyone could do wonders if he could contrive to overcome all resisting influences, and if all mankind would consent to become soft wax in his fingers; but men are resolved not to be soft wax; they listen, applaud, or reject and — go on as before. via What Is Money? […]
Read MoreOn the biggest threat to our prosperity
From a superb article by Detlev Schlichter, which I recommend in full: Of course, by printing new money, expanding the central bank balance sheet and artificially lowering interest rates, – something that has been done on a vast scale for decades on end! – extra economic activity can be generated […]
Read MoreCobden Centre Radio » Detlev Schlichter
As a derivatives trader for 19 years, Detlev Schlichter resigned his position as a senior bond portfolio manager in 2009 to work full-time on this book, about fiat monetary systems and financial crises. He therefore knows of what he speaks. In this extensive and detailed interview, he explores with Brian […]
Read MoreEmbrace Default! » The Cobden Centre
Via Embrace Default! » The Cobden Centre: There is a myth circulating, and I am not sure whether it has its origin in sloppy thinking or devious manipulation. It is this: sovereign default in the euro-area is the biggest threat to the euro’s survival. Really? Why? The euro is a form […]
Read MoreQuote of the Day from Sybil by Benjamin Disraeli – 1845
Nor have the demoralising consquences of the funding system on the more favoured classes been less decided. It has made debt a national habit; it has made credit the ruling power, not the exceptional auxiliary, of all transactions; it has introduced a loose, inexact, haphazard, and dishonest spirit in the […]
Read MoreInflation Is Here, and It Is Going to Get Worse – Frank Shostak – Mises Daily
A great lesson on inflation from Frank Shostak appears on mises.org, including this quote from Ludwig von Mises: Inflation, as this term was always used everywhere and especially in this country, means increasing the quantity of money and bank notes in circulation and the quantity of bank deposits subject to […]
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