Saturday, 25 March 2017

Monthly Archives August 2012

World Hyperinflations

Posted by Gonzalo Schwarz
August 22, 2012

World Hyperinflations by Steve H. Hanke and Nicholas Krus Steve H. Hanke is a Professor of Applied Economics and Co-Director of the Institute for Applied Economics, Global Health, and the Study of Business Enterprise at The Johns Hopkins University in Baltimore and a Senior Fellow at the Cato Institute. Nicholas Krus is a research associate at […]

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The Economist On Money and the State

Posted by Gonzalo Schwarz
August 22, 2012

by George Selgin I couldn’t help being glad to see The Economist refer to Carl Menger’s theory of the origins of money just as I was about to explain that theory to my undergraduate classes. Nor did I at all mind having Menger’s ideas contrasted with those of another of my favorite economists, Charles Goodhart. I was, however, sorry to see […]

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Slumping Money Supply (Not Austerity) Plunges Hungary Into Recession

Posted by Gonzalo Schwarz
August 22, 2012

by Steve H. Hanke Hungary is in a recession, again. According to the chattering classes, as well as many analysts and financial reporters, fiscal austerity is the cause of Hungary’s slump. Nonsense. Hungary’s recession results from its slumping money supply. When monetary and fiscal policies move in opposite directions, the economy will follow the direction taken by monetary […]

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The Fed Has Forgotten Sound Money, And Now Just Manipulates Interest Rates

Posted by Gonzalo Schwarz
August 22, 2012

by James Dorn While some members of Congress and Republican presidential hopeful Mitt Romney want to label China a “currency manipulator,” little is said about the Federal Reserve’s role as an interest-rate manipulator.  Interest rates are relative prices that should be freely determined in private capital markets, not manipulated by the central bank.  The Fed is […]

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How China Is Driving Federal Reserve Policy

Posted by Gonzalo Schwarz
August 21, 2012

By JAMES RICKARDS During the Cold War, national security analysts spoke knowingly about the art of “Kremlinology.” This was a technique for understanding Soviet power relations and policy changes taking place inside the leadership compound in the Kremlin. The Soviet Union was completely opaque. One-time leaders could be demoted and new leaders advanced without any public […]

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Central Banks Race to BUY Gold At Record Pace

August 21, 2012

This must be more evidence of Bernanke’s “tradition.” The Olympics may be over, but central banks around the world have begun a race to buy gold and are doing so at the highest level in decades. The World Gold Council recently announced that central banks officially bought 157.5 tonnes of gold, equivalent to just over […]

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