Archives
The root cause of monetary confusion
September 23rd, 2016
Arguments about sound and unsound money often degenerate into a them-and-us dispute, with the supporters of unsound money casting sound money proponents as impractical out-of-date libertarian weirdos. Supporting one side or the other as if they were opposing football ...
CySec announced law violations by Cyprus Popular Bank Public Co Ltd and fined Members of its Board
September 21st, 2016
The Cyprus Securities and Exchange Commission (CySec) has issued an announcement to inform that the Commission has examined the matter of compliance of Cyprus Popular Bank Public Co Ltd with the Insider Dealing and Market Manipulation (Market Abuse) Law and ...
Why the EU is doomed
September 16th, 2016
We are accustomed to looking at Europe’s woes in a purely financial context. This is a mistake, because it misses the real reasons why the EU will fail and not survive the next financial crisis. We normally survive financial ...
The impoverishment of the masses
September 14th, 2016
Feudal and mercantilist economic systems were characterised by the lower orders of ordinary people being enslaved by, or subjected to, the commands of an elite. Beyond basic subsistence, serfs and slaves were not enabled to consume other goods, nor ...
Rabobank staff paid settlements for manipulating Euribor interest rates
August 18th, 2016
Four Rabobank staff and one former colleague have paid settlements of up to €3,000 for their role in manipulating internal interest rates. Three of the four workers held senior positions at the bank, the Financieele Dagblad reported. It is ...
Why Say’s law is always true
August 12th, 2016
One of my regular readers has raised the important subject of Say’s law, the denial of which both Keynesian and modern monetarists are emphatic. They need this fundamental axiom to be untrue to justify state stimulation of aggregate demand. ...
Saving the system
August 10th, 2016
Monetary policy, we are told, is all about staving off recession and stimulating economic growth. However, not only is monetary debasement in any form counterproductive and destroys the personal wealth of the masses, but the economists who devised today’s ...
Volkswagen AG models face sales suspension; fresh blow to the German automaker
August 4th, 2016
South Korea has suspended sales of most Volkswagen AG models in a fresh blow to the German automaker as it struggles to overcome the global repercussions of its emissions-test cheating scandal and rebuild its tattered image. The government revoked ...
Brexit post-mortem
July 29th, 2016
It is a month after Britain’s surprise vote to leave the EU. A new Conservative Prime Minister and Chancellor are in place, both David Cameron and George Osborne having fallen on their swords. The third man in the losing ...
The real message from asset inflation
July 22nd, 2016
The earliest signs are developing of hyperinflation, more correctly described as a collapse of the purchasing power of all the major government currencies. Central bankers are almost certainly unaware of this danger, partly because their chosen statistics fail to ...
