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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: Quantitative easing
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
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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Tagged Bank of England, inflation, Mervyn King, Quantitative easing
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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
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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Tagged Bank of England, central banks, gold, Quantitative easing
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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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Tagged asset management, economics, japan, Keynesianism, Quantitative easing
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What the world’s central banks have been upto
Via ZeroHedge, the worldwide race to the bottom continues: Hard to see how this ends well.
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Tagged Austrian school, central banks, inflation, printing press, Quantitative easing
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Why sound money is important – and the Bank must go
One of the arguments made defending increases in the money supply, such as the recent quantitative easing in Britain, is that such money inflation does not always result in price inflation. Paul Krugman, a Nobel prize winning Keynesian economist, argued this recently … Continue reading
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Tagged Austrian school, Bank of England, central banks, econ, economics, inflation, Paul Krugman, Quantitative easing
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A little (on topic) light relief
Whoever said “if you don’t laugh, you’ll cry”, certainly was on to something. I think I would paraphrase it as “if you don’t laugh, you’ll go mad with incandescent rage”, but heh. The following youtube video was created a year … Continue reading
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Tagged central banks, economics, Humour, Quantitative easing
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The monetisation of debt continues
Today, the Bank of England announced another £75bn of quantitative easing in an effort to boost the economy [BBC]. Much of this is likely to be used to purchase government debt, as the politicians are presumably too afraid to tax us directly. Why do … Continue reading
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Tagged Bank of England, central banks, economics, fiat money, Quantitative easing
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