Money and Banks

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This Is How Savings and Investment Pave the Way for an Advanced Economy

Money and Banks

Blog08/14/2021

Modern economies produce a seemingly endless supply of goods. But without the "subsistence fund," built on saving and investment, the mountain of goods we take for granted would be impossible. 

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The Great Keynesian Coup of August 1971: Fifty Years Later

Money and Banks

Blog08/10/2021

The collapse of the monetary order in 1971 reflected the massive dislocations and malinvestment of resources that ultimately turned the decade into one crisis after another. Keynesians are doing something similar today. 

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Good Economic Theory Is Always Grounded in the Real World

Money and Banks

Blog07/31/2021

The real world should always be regarded as the best foundation for an economic theory. Yet many mainstream economists think it's fine to ground economic theory in unrealistic assumptions about human behavior. 

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We Can Have Low Interest Rates Or Robust Growth. But Not Both.

Money and Banks

Blog07/24/2021

You can have strong growth, or you can have negative interest rates with low bond yields. You can't have all at the same time. 

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Fiat Money Economies Are Built on Lies

Booms and BustsMoney and Banks

Blog07/20/2021

The public usually doesn't understand how fiat money expansion benefits the regime at their expense. The regime likes it that way. 

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The ECB's New Inflation Plan Is Like the Old Plan. But Worse.

Money and Banks

Blog07/17/2021

The ECB wants more price inflation, so it has unveiled a new plan to use new, radical monetary tools. It's all very similar to the "old" plan. Except the new plan is even worse. 

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The Phillips Curve Myth

Money and Banks

Blog07/08/2021

Those analysts that insist on following the Phillips curve in order to ascertain the future course of the momentum of prices of goods are deceiving themselves.

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Can the Dollar Survive Both Cryptocurrencies and China?

Money and Banks

The outcome of today's currency race is uncertain. The credibility of the leading fiat currencies has suffered substantially. Their instability has fueled crises and weakened growth, so the demand for an alternative store of value is high. 

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From Livestock to Bitcoin: "Legitimacy" and the Evolution of Money

Money and Banks

Blog07/07/2021

Without money, specialization is constrained; without money, dreams of constructing an advanced society are merely a utopian pipe dream. 

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Since When Is a Half-Point Rate Hike (2 Years from Now) "Hawkish"?

Money and Banks

Blog06/29/2021

The Fed says rate hikes are at least two years away. A lot can happen in two years, and since when is forecasting a couple rate bumps two years from now considered hawkish to the point of making the dollar pop and gold flop?

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