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All world fiat currencies are in a race to the bottom...
ZeroHedge is a very good daily reading too (it can get wonky at times)
Inflation, actually high inflation, is alive and well if you know where to look....where the new money (+credit) creation is allowed to flow freely, mainly in the canyons of Wall Street at the moment.
A reading that may help you understand this concept is "The Great Deformation", by David Stockman
Not to mention the fact that we changed the way how we measure inflation (or how we measure GDP recently).
In my personal experience, in the last few years even my grocery bill has gone up significantly (I mostly buy high quality groceries and a lot of imported stuff) but there is no sign of it in the official CPI.
Saturno_v, Lowexpectations is one eye blind, one sided and he doesn't want to see or know about it. It is much better to ignore things and pretend it's not there for him.
There is a lot of people who are benefiting from the status quo, from criminal Fed policies designed to protect the rich, protect OLD MONEY, OLD WORLD and prevent restructuring and creating a new world.
I can suggest some good books to start understanding how the world monetary system really work
Those are all kook sources. I can suggest some good places to start learning about how ACTUAL economies work. First, obtain a BA or BS in basic economic principles, then get yourself admitted to grad work at the likes of Harvard, MIT, Princeton, Stanford, Berkeley, Yale, Penn, NYU, Michigan, Duke, Johns Hopkins or others of such stature. Before you know it, you too can know what you are talking about.
Those are all kook sources. I can suggest some good places to start learning about how ACTUAL economies work. First, obtain a BA or BS in basic economic principles, then get yourself admitted to grad work at the likes of Harvard, MIT, Princeton, Stanford, Berkeley, Yale, Penn, NYU, Michigan, Duke, Johns Hopkins or others of such stature. Before you know it, you too can know what you are talking about.
Sure.....all kook sources...including central bankers of insignificant nations like the UK and some of the most successful asset managers in the world.....if you want to really understand economics the first thing to do is not pursuing a degree in economics....and it is not something I said myself...
"Central bankers are threatening the engine of the economy", an article on a fringe publication such as the Financial Times penned by a poor kook called Bill Gross that happened to be the founder of, until recently, the largest bond fund in the world....
They are all kooks indeed if they deny the validity and necessity of central banking. It would of course be something altogether different simply to disagree with central bank policy from time to time.
They are all kooks indeed if they deny the validity and necessity of central banking. It would of course be something altogether different simply to disagree with central bank policy from time to time.
Putting aside the fact that the absolute necessity of a central bank is to be proven (I guess it is "necessary" if we want to practice the fraud of fractional reserve banking)....yes, you can have central banking done right and done wrong......in the last 30+ years we had central bank done done wrong and often very wrong...
By the way, none of the "kooks" I mentioned advocate for the elimination of central banking so you labelled them "kooks" without even reading or hearing what they have to say...typical of people prisoners of dogmas
Just to let you know.....Milton Friedman, one of the most influential figures in modern economics, coming from and teaching in these highly esteemed world class universities you mentioned, actually argued that we did not really need a central bank...oops!!! Are you lost?? LOL
Putting aside the fact that the absolute necessity of a central bank is to be proven (I guess it is "necessary" if we want to practice the fraud of fractional reserve banking)....yes, you can have central banking done right and done wrong......in the last 30+ years we had central bank done done wrong and often very wrong...
By the way, none of the "kooks" I mentioned advocate for the elimination of central banking so you labelled them "kooks" without even reading or hearing what they have to say...typical of people prisoners of dogmas
Just to let you know.....Milton Friedman, one of the most influential figures in modern economics, coming from and teaching in these highly esteemed world class universities you mentioned, actually argued that we did not really need a central bank...oops!!! Are you lost?? LOL
Yes, of course, banks do not really need reserves to lend out money (at least for a while), they can create money (deposits) just by the act of loaning them....banks are simply capital constrained not reserve constrained.
There is a beautiful article by Prof. Steve Keen "The Roving Cavaliers of Credit” about how the modern banks really work where he addresses the reserve requirements nonsense...I would consider it requirement readings for everyone with an interest in economics, including Princeton PhDs...
I used the term "fractional reserve banking" as a general term (understood by most that do not necessarily have a detailed understanding of how banking works) opposed to full reserve banking.
....interesting that the classic "10% reserve requirements" is still part of the university coursework in economic studies that our friend Pub-911 seems so fond of......
Last edited by saturno_v; 11-03-2016 at 03:53 PM..
Just to let you know.....Milton Friedman, one of the most influential figures in modern economics, coming from and teaching in these highly esteemed world class universities you mentioned, actually argued that we did not really need a central bank...oops!!! Are you lost?? LOL
Friedman was so bamboozled by the Fed that he had to make up helicopters and fireplaces in order to be able to write about the money supply. Milton Berle would have gotten it better.
You are facing here the consequences of having walked down a primrose path of woefully misplaced confidences. The people you listen to offer pointless parodies of actual economics. They will lead you nowhere but further into the wilderness.
You are facing here the consequences of having walked down a primrose path of woefully misplaced confidences.
............the only "misplaced confidence" I see around in the real world is the one on modern central banking....unfortunately for the planet....
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