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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: Federal Reserve
What has the MPC got to hide?
News to light the fires of the paranoid and conspiracy theorists out there: The Bank of England’s Monetary Policy Committee (MPC), the group which decides on interest rates each month, keeps no minutes of their meetings. We’ve argued on this … Continue reading
Posted in Uncategorized
Tagged Austrian school, Bank of England, central bank, economics, Federal Reserve, keynesian, mpc
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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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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
Posted in Uncategorized
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:
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
Should we end the Fed?
Posted in Uncategorized
Tagged Austrian economics, economics, End the fed, Federal Reserve
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Schlichter on the 1 trillion dollar coin
But once the government has replaced liquid government bonds on the central bank’s balance sheet with illiquid coins the central bank’s maneuverability is severely restricted. When the public gets nervous about inflation, the central bank would have to reverse its … Continue reading
Hurrah! We are all saved! Until around March.
This is a guest post by Philip Holton. The financial press are heralding the US’s so called budget deal as the driver of today’s global equity market rally. They are right, it is, but does it mean we are safe? … Continue reading
Posted in Uncategorized
Tagged central banks, economics, Federal Reserve, fiscal cliff, libertarianism
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Quote and chart of the day
Whoever said the advent of the Federal Reserve, or the end of “hard money” standard courtesy of Richard Nixon, made catastrophic or systematically shocking events less frequent, probably should have their head examined. Tyler Durden, of ZeroHedge. Accompanying this: You don’t … Continue reading
Posted in Uncategorized
Tagged debt, economics, Federal Reserve, fiscal cliff, GDP, US
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