Author Archives: philipholton

Forward guidance

One of the notably sinister traits of a central bank is the act of collaboration (read, collusion) between countries: they can’t exist for long without it. It is therefore not surprising that when Ben Bernanke issued a statement linking future monetary policy … Continue reading

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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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The long run

Labour recently commissioned a report into ‘short termism’ in the UK which aims to take a look at the reasons for short term behaviour by businesses and recommend how this can be changed. It makes several recommendations: taper capital gains tax; reduce reporting; … Continue reading

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Tautology and the bank

One of the major works of departing Bank of England Governor Mervyn King was the Inflation Report – a quarterly report on what inflation is and what caused it. It is here that economists earn their stereotype for obfuscation, blaming inflation … Continue reading

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Safe as houses

Yesterday’s news of the effects of George Osborne’s Funding For Lending scheme came as no surprise to those who understand the basic premise that monetary inflation results in asset price inflation. In a video we posted earlier we saw how house … Continue reading

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Prince Albert’s golden countenance

Apologies for the terrible title – “buy gold” is a little boring. In a video by Citywire, Gavin Lumsden explains why buying gold is becoming more popular. Why is this so? Lumsden tells us that over the last century “returns” have … Continue reading

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Kamikaze Keynesianism

A quick three minute video by Citywire (free!) explains the view of a Norwegian bond fund manager who is rather skeptical of trying to “stimulate” an economy by borrowing. Torgeir Høien, manager of Skagen Tellus, is blunt about the matter, “it won’t work”. Why not? … Continue reading

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