The looming derivative crisis
byThe powerful forces of bank credit contraction are at the heart of a rapidly evolving financial crisis in global derivatives, whose gross value is…
money supply
Chapter 8: Negotiable Debt, A Bit of History
byThis chapter is a quick summary and clarification of what happens when debt becomes negotiable. The focus is on money, but other…
Chapter 7: Secrets, Ignorance and Lies: Money, Credit and Debt.
by“The tyranny of fraud is not less oppressive than that of force.” John Taylor of Caroline, Virginia (1814). Our money system relies on…
Chapter 5: Bubbles and Adam Smith.
byThis chapter explores how laws enabling debt to be bought and sold transformed Britain. Suddenly, vast quantities of money and value were being…
From the Moneyness Blog: Electronic money will only save central banks from subjugation if it is anonymous
by50 SEK banknote issued by the Riksbank in 1960 “Do we need an eKrona?” asks Stefan Ingves, the Governor of the Riksbank, Sweden’s central bank. The…
Does the price of oil determine general increases in the prices of goods and services?
byA very good visual correlation between the yearly percentage change in the consumer price index (CPI) and the yearly percentage change in the price…
What should be the correct money supply growth rate?
byMost economists believe that a growing economy requires a growing money stock, on grounds that growth gives rise to a greater demand for money,…
Benn Steil: RMB Globalization, Once “Unstoppable,” Heads Into Reverse
by“The globalisation of the [Chinese RMB] seems remorseless and unstoppable,” the Economist pronounced in April 2014. A year later, a research-grant foundation asked me…
Should cash be eliminated?
byAt the World Economic Forum in Davos Switzerland, Joseph Stiglitz the Nobel Prize-winning economist argued in favor of phasing out currency and moving towards…
David Gordon on Mervyn King: Central Bankers Are Losing Faith in Their Own Alchemy
byMervyn King is the British Ben Bernanke. An eminent academic economist, who now teaches both at New York University and the London School of…