Would Cleansing Banks’ Balance Sheets Kick-start the US Economy?
Since the heart of credit is real savings, it is obvious that no government schemes, such as cleansing banks' balance sheets, can increase fully backed credit.
Since the heart of credit is real savings, it is obvious that no government schemes, such as cleansing banks' balance sheets, can increase fully backed credit.
A full-blown bailout of the banks responsible for making bad loans will only further an economic system of private profits and socialized losses.
The 2009 Ludwig von Mises Memorial Lecture, presented by Thorsten Polleit.
Jörg Guido Hülsmann, professor of economics at the University of Angers in France, discusses his recent book, “The Ethics of Money Production
Studying Jörg Guido Hülsmann’s latest book, The Ethics of Money Production, is a vastly enriching experience.
"Gold's market premium to the official price was no small matter as it questioned the very fundamentals of the planned monetary system."
Presented as part of the Mises Institute’s Brown Bag Seminar series on April 23, 1997 in Auburn, Alabama.
Although the dollar is no longer tied to gold, that will not stop the dollar price of gold from exploding when more investors realize that no one, not even a sharp guy like Ben Bernanke, ought to hold the fate of the world's economy in his hands.
Consider what it means to live through our times in the light of economic understanding. Even in the face of calamity, there is no mystery, and hence fear is reduced.