Inflating

Wednesday, October 24th, 2012

A new gold standard is crucial. The disasters that the Federal Reserve and other central banks are inflicting on us with their funny-money policies are enormous and underappreciated.

Friday, October 19th, 2012

Steve H. Hanke, Professor of Applied Economics and Co-Director of the Institute for Applied Economics, Global Health, and the Study of Business Enterprise, and his team of 10 undergraduates, known as the bullpen, were the first ones to come to the realization that Iran was undergoing hyperinflation after studying the black market exchange rate in the country.

Friday, October 19th, 2012

The hyperbolic trend increase in the quantity of money is a reflection of this necessity, implying that if the Fed’s money issuance is at a slower rate than required, then strains will appear in the financial system. There are a number of reasons behind this monetary acceleration, not least the need to perpetuate bubbles in securities markets, but there are three major underlying problems.

Wednesday, October 17th, 2012

As I noted not long ago, I find myself in serious disagreement with a portion of the end-the-Fed movement. This is the segment of the movement whose complaints are that the Federal Reserve is “privately owned,” that the Fed does not inflate enough, that interest payments are unjust or inherently unpayable all at once, etc.

Tuesday, October 16th, 2012

Journalists, politicians and economists all seem to agree that the biggest economic issue currently worrying voters is unemployment. It follows then that most believe that the deciding factor in the presidential race will be the ability of each candidate to convince the public that his policies will create jobs. It seems that everyone got this memo...except the voters.

Monday, October 15th, 2012
This summer Roger Bootle won Lord Wolfson's £250,000 prize for the best advice for a country leaving the European Monetary Union (one may assume that this advice is aimed at Greece).
Friday, October 12th, 2012
As noted in last week’s column about the rising recognition by authorities in Germany about the virtues of gold, the gold standard is receiving impressive new recognition internationally.
Thursday, October 11th, 2012

“Fiat” is money with no intrinsic value beyond whatever an issuing government is able to enforce. When it enjoys a monopoly as currency, fiat inevitably turns the free market functions of money inside out.

Tuesday, October 9th, 2012

Understanding the euro's failure and Triffin's Paradox helps us understand why the dollar will rise significantly in the years ahead.

Friday, October 5th, 2012

A policy of low but persistent inflation anesthetizes workers to declining real wages.

Monday, October 1st, 2012

It isn't terribly often that people discuss the development of total war in tandem with the development of modern central banking, which — although antecedents existed long before — also came into its own in the 20th century.

Friday, September 28th, 2012

The recent decision by the US Federal Reserve to contaminate the financial body until it responds favorably was the last straw in my book.

Tuesday, September 25th, 2012

The US central bank announced on Thursday, September 13, 2012, that it will expand its holdings of long-term securities with open-ended purchases of $40 billion of mortgage debt a month as it seeks to boost economic growth and reduce unemployment.

Monday, September 17th, 2012

The San Francisco Fed asked people what they thought Quantitative Easing would do to the economy. The answer wasn't what they expected...

Pages