What The “Bourbon Shortage” And The Kentucky Derby Can Teach Us About The Fed
byThere is an urban legend that there is a looming Bourbon Supply Crisis. (Heaven Forfend!) Meanwhile, American Pharoah, as expected, won the Kentucky Derby….
Money
How Could the Fed Protect Us from Economic Waves?
byMainstream economists tell us that the Federal Reserve protects us from economic waves, indeed from the business cycle itself. In their view, people naturally…
Markets, Not Janet Yellen, Should Set Interest Rates
byFinancial markets in the United States and around the world are all waiting with “bated breath” for when the Federal Reserve modifies its “easy…
Euro-sclerosis
byThere appears to be little or nothing in the monetarists’ handbook to enable them to assess the risk of a loss of confidence in…
Inaccurate statistics and the threat to bonds
byStatistics have become very misleading: in particular we are being badly misled into believing that the US is teetering on the edge of price…
Bank Robbery Chapter Three. Law and the Banking System.
byThe first chapter of this book described how private commercial bankers came to provide almost all of the money supply in the West….
The trouble with cash
byWhen interest rates are zero and it costs a bank to look after your money it becomes an unattractive asset. Banks in some jurisdictions…
Why deflation is unlikely
byFinancial markets are becoming aware that the US economy is stalling, so investors increasingly take the view that with demand likely to stagnate or…
Think Different About Purchasing Power
byThe dollar is always losing value. To measure the decline, people turn to the Consumer Price Index (CPI), or various alternative measures such as…
Gold, the SDR and BRICS
byLast Monday there was a meeting in Washington hosted by the Official Monetary and Financial Institutions Forum (OMFIF) to discuss the future relationship, if…