Central Banking
-
|
The Lenders of Hazard
The following passage in a note at The Economist points out to the well-known problem of moral hazard with lenders of last resort. But the moral hazard problem affects more […]
-
|
The US Economy is Fedlocked
By all accounts in the news, the FOMC basically threw up its hands at its meeting this week, deciding it can’t do anything constructive to improve economic conditions. The official […]
-
|
Business Cycles, Open Economies and Wandering Bubbles
In a previous post we commented on some aspects that are relevant for business cycles in the context of open economies. We also showed that in not a few cases […]
-
|
“Gold is NOT money!.. But, can we have yours to pay our bills?”
“NEIN! But take all zee paper you wish…”
-
|
Speech given to the Committee for Monetary Research and Education
Speech given to the Committee for Monetary Research and Education
-
-
|
The Fed as Witchdoctor
Although very few in the mainstream media are paying much attention, there’s growing chatter in sound-money circles about the ongoing phenomenon of negative real interest rates. By pumping in nearly […]
-
|
The Incredible Morphing Fed
Student blogger Andrew Mack points out that the Fed was a creature of the “progressive” ethos of the early 20th century—i.e. the idea that powerful centralized institutions could “manage” the […]
-
|
Nuts to Higher Inflation
The chorus of voices calling for higher inflation is growing. Joining “respectable” mainstream economists like Harvard’s Greg Mankiw and Ken Rogoff is Rex Nutting at Marketwatch. To his credit, Nutting […]
-
|
(Poison) Ivy League Economists Dis the Gold Standard
As the Wall Street Journal reports, 6 Yale economists convened last week in New Haven to discuss “The State of the U.S. Economy: How Do We Create More Jobs?” Not […]
-
|
Operation Twist: Not What the Doctor Ordered
Last week the Fed announced “Operation Twist,” in which the central bank will buy $400 billion of longer-dated Treasury securities while selling the same amount of shorter-dated Treasuries. This episode epitomizes everything that is wrong with the modern, statist view of money.
-
|
Mirage or truth?: Economic Freedom going down but access to sound money improving
Fraser Institute released its new index of economic freedom. The data shows that economic freedom in the world has been going down during the last two years of the study. […]
