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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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Tag Archives: central banks
Kept in the dark
In my last post, I shared the news that the MPC keeps no minutes of its meetings. I had pondered whether there would be any gain in trying to use the Freedom of Information Act to force the Bank to … Continue reading
Posted in Uncategorized
Tagged Bank of England, central banks, economics, FOI, mpc, Secrecy
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The Bank of England must share the blame for the cost of living
Many central banks now have “inflation targets” that they are required to meet, and such targets are set by the government. For the Bank of England, this target is 2%, and is based on the Consumer Price Index (CPI). Some … Continue reading
Posted in Uncategorized
Tagged Austrian economics, Bank of England, central banks, economics, Federal Reserve, inflation, Keynesianism, monetarism
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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
Posted in Uncategorized
Tagged Austrian school, Bank of England, central banks, economics, fed, inflation
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The subtle Cantillon effects of inflation
The biggest problem with increases in the money supply is not that it causes a rises in prices – that monetary inflation can cause price inflation – for this is what we would expect to happen in most cases. Rather, … Continue reading
Posted in Uncategorized
Tagged Austrian school, Bank of England, cantillon, central banks, economics, fed, inflation, QE
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The new man at the helm
At the start of July, Mark Carney became the new Governor of the Bank of England. He appears to have taken his job at a time when there is greater optimism regarding the state of the UK economy, which has … Continue reading
The Monarchs of Money
An interesting look at the role of central bankers from the CBC, Canada’s public broadcaster:
Posted in Uncategorized
Tagged bank of canada, Bank of England, cbc, central banks, ECB, economics, Federal Reserve
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Quote of the Day
The Fed is the elephant in the living room that everyone pretends not to notice. Even many of those who blame government for the current mess leave the Fed out of the picture altogether. The free market, meanwhile, takes the … Continue reading
