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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: May 2013
Quote of the Day
That we are witnessing strange and dangerous deformations of the capitalist system, if we can still even call it capitalist, and that new bubbles are being blown everywhere, is not only evident by the increasingly grotesque dichotomy between a woefully … Continue reading
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Tagged Austrian school, cheap money, ECB, economics, Federal Reserve, inflation, monetary policy
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The Monarchs of Money
An interesting look at the role of central bankers from the CBC, Canada’s public broadcaster:
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Tagged bank of canada, Bank of England, cbc, central banks, ECB, economics, Federal Reserve
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George Osborne warning us about the Bank of England?
In 1997, the Bank supposedly went independent. Of course, a central bank by its very nature is anything but independent. Ask Goldman Sachs. However the Chancellor of the Exchequer is still required by law to give advice to the Bank … Continue reading
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