Mises Wire
Author:
Joseph T. Salerno
Online Publish Date:
its decline and recovered 1.7% of its value against the U.S. dollar. For now, the markets have been calmed and, according to media commentators and financial analysts crisis that Argentina suffers from is a chronic and deep-rooted monetary policy failure. This has not even been hinted at in the standard media accounts of the most of currency crises, all it has to do is order the central bank to cease all open market and lending operations. This would effectively freeze the amount of bank