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There is no means of avoiding a final collapse of a boom brought about by credit expansion. The alternative is only whether the crisis should come sooner as a result of a voluntary abandonment of further credit expansion or later as a final and total catastrophe of the currency system involved.
Ludwig von Mises
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Monthly Archives: June 2012
Pot meets kettle
Something went very wrong with the UK banking industry and we need to put it right. If only Mervyn King would apply his comments to the organisation he leads… the organisation responsible for boom and bust via the manipulation of … Continue reading
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Tagged Austrian economics, central banks, hypocrisy, interest rates, Mervyn King, QE
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On the Spanish bailout
The European Union’s economic affairs commissioner, Olli Rehn, said the deal should help calm investors’ nerves: “This is a very clear signal to the markets, to the public, that the euro area is ready to take decisive action in order … Continue reading
The price of free speech
In light of the UK Leveson inquiry into media ethics, and recent cases of people being sent to prison for drunken racist rants while on the Tube, this Australian video is a good reminder of the need to stand up for … Continue reading