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The destruction of the euro

October 26th, 2020 (0)
  The Eurozone is bust. The deterioration of TARGET2 imbalances have been hardly noticed, but in recent months it has been alarming. Despite official denials over the years that it is a matter of concern, it is increasingly obvious ...

The emerging evidence of hyperinflation

October 15th, 2020 (0)
  Note: all references to inflation are of the quantity of money and not to the effect on prices unless otherwise indicated. In last week’s article I showed why empirical evidence of fiat money collapses are relevant to monetary ...

Lessons on inflation from the past

September 25th, 2020 (0)
  This article examines two inflationary experiences in the past in an attempt to predict the likely outcome of today’s monetary policies. The German hyperinflation of 1923 demonstrated that it took surprisingly little monetary inflation to collapse the purchasing ...

China is killing the dollar

September 23rd, 2020 (0)
  In the wake of the Fed’s promise of 23 March to print money without limit in order to rescue the covid-stricken US economy, China changed its policy of importing industrial materials to a more aggressive stance. In examining ...

Inflation, deflation and other fallacies

September 15th, 2020 (0)
  There can be little doubt that macroeconomic policies are failing around the world. The fallacies being exposed are so entrenched that there are bound to be twists and turns yet to come. This article explains the fallacies behind ...

A critique of modern socialism

September 2nd, 2020 (0)
  Socialism has moved on from the Marxist version of the state owning the means of production to one whereby production remains in the hands of individuals but are heavily regulated — echoing Mussolini’s fascist-socialist model. But after nearly ...

Doubling down on failed policies with central bank digital currencies

August 27th, 2020 (0)
Many central banks are researching retail digital currencies, which if implemented, would allow them to issue a new currency directly to the public, managed on a centralised ledger bypassing commercial banks. While there is an element of feeling the ...

An unexpected systemic crisis is for sure

August 18th, 2020 (0)
  Downturns in bank credit expansion always lead to systemic problems. We are on the edge of such a downturn, which thanks to everyone’s focus on the coronavirus, is unexpected. We can now identify 23 March as the date ...

Gold at $2k+. So why the fuss?

August 10th, 2020 (0)
  There appears to be no way out for the bullion banks deteriorating $53bn short gold futures positions ($38bn net) on Comex. An earlier attempt between January and March to regain control over paper gold markets has backfired on ...

The Eurozone’s financial disintegration

July 31st, 2020 (0)
Introduction The Euro Crisis Monitor (above) shows the increasing imbalances in the TARGET2 settlement system between all its members: the ECB (itself with a €145bn deficit) and the national central banks in the Eurozone. Other than minor differences reflecting ...
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