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Today in the New York Times Paul Krugman calls for “an all-out effort by the Federal Reserve to get the economy moving, with the deliberate goal of generating higher inflation to help alleviate debt problems.” The destruction of the US monetary order …
READ MORELately, a lot has been said about Greece, Spain and Italy in the financial crisis affecting Europe. The fear is that these economies can affect the performance of bigger economies, like Germany, one of the largest economies in the world and the second …
READ MOREArticle and photo originally found at The Telegraph, July 18, 2011, Ambrose Evans-Pritchard As the twin pillars of international monetary system threaten to come tumbling down in unison, gold has reclaimed its ancient status as the anchor of stability. …
READ MOREItaly’s senate approved today a plan to cut government spending for the period 2011-2014. Italy’s public debt is more than 100% of GDP and the fiscal deficit was between 3% to 5.9% of GDP for last year. Similar situation is shared by other European cou …
READ MOREThe European countries seem to be facing a road with no easy exit. One on side they are facing fiscal deficits. On other side they are already dealing with an important debt amount that can hardly be sustained, as the case of Greece is showing these da …
READ MOREArticle and photo originally found at The Wall Street Journal: Opinion Europe Author: Dr. Judy Shelton It can be hard to remember these days, but the International Monetary fund started out as an undeniable force for good. Even as World War II was ragi …
READ MOREWith the financial crisis affecting the United States and Europe, here and there are comments and concerns on what could happen with the dollar, the euro and even the international monetary order. With politicians and economists warning that the financ …
READ MORE“After 1914, the gold standard was given up and in the 1920s countries unabashedly resorted to unbridled fiat money resulting in hyper-inflation in a number of European countries. World War II resulted in the virtual demise of the sterling as a reserve …
READ MORE“The devaluation of the British pound from $2.80 to $2.40 is not only another declaration of the bankruptcy by Great Britain; it is another revelation of the bankruptcy of the international money system concocted at Bretton Woods, N.H., in 1944.” Read …
READ MORE“‘World leaders must understand that re-establishment of international confidence is more important for recovery in every country than the artificial measures from which people sometimes expect salvation,’ Daladier said. He hoped the world would not su …
READ MORE“A top Chinese economist warned that the world has fallen into a “dollar trap,” as U.S. trading partners lack an alternative to the greenback and can’t prevent the Federal Reserve from printing more money. The arrangement means big holders of dollars – …
READ MORE“The benefit of maintaining price stability in the eurozone as a whole, and thereby keeping the inflation risk low, becomes even greater in times of crisis. At the height of the financial crisis, the ECB lowered interest rates aggressively in the face …
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