The Japanese response to negative interest rates was to buy personal safes. The German response is to pull money out of bank accounts and stick it in safe deposit boxes. Both are perfectly understandable reactions to the prospect of having to pay interest to a bank for holding deposits.
We're constantly being told by the mainstream financial media that saving money will destroy the economy. In truth, only saving — which is nothing more than refraining from spending — can repair the damage done by years of easy money and reckless spending.
Many people have figured out that Wall Street and Washington, DC work together to rig the game in Wall Street's favor.
In this interview, Claudio Grass talks to economist and Mises Institute Senior Fellow Thomas DiLorenzo. Dr. DiLorenzo covers central bank monetary policies, Keynesian economics, the economic “recovery,” political correctness, and more.
Back in January, ECB President Mario Draghi doubled down on his earlier commitment to do "whatever it takes" to prop up the European economy with easy money. He wasn't joking.
While the declining trend growth in money supply is bad news for bubbles, it is actually great news for wealth generators.
In a remarkable TV interview, Otmar Issing, the former Chief Economist of the European Central Bank and a former member of its Board, dismisses negative interest rates as a solution to what ails Europe.
The BIS has just released a research report questioning whether negative interest rates are effective in achieving policymakers' goals of staving off a (phantom) deflation without adversely impacting the financial sector and the overall economy.
Putting an end to inflation requires not only the abolition of the Fed but also the abolition of the FDIC and FSLIC.
