Money and Banks

In an age of growing productivity and technological advancement, goods would be getting cheaper every year. This is a reason why price inflation rises more slowly than money supply inflation.

The One Ring of power stands for the particularly evil idea of creating a state of states, a world government, a world state. A one-world fiat currency is similarly dangerous.

When it comes to both monetary and fiscal policy, sloppy definitions of inflation drive sloppy policymaking.

Any economist should have been able to see that having the monetary spigot on full blast to “stimulate” would raise prices down the road.  We are now down that road.

It is not possible to replace productive credit by means of the easy monetary policies of the central bank. If this could have been done, then the world would have already ended poverty.

Policy normalization—defined as closing down the nonconventional toolbox and restoring a well-functioning price-signaling mechanism to the bond market—is difficult but possible.

The idea that supply chain problems are “driving inflation” gets the causation backward. It’s money supply inflation that’s causing the supply chain problems, not the other way around.

The world of the 2 percent target is something truly new and worse than what came before. It’s not the same old monetary policy with slightly higher inflation targets.

There is need to realize that the economic policies of self-styled progressives cannot do without inflation. They cannot and never will accept a policy of sound money.

Central banks always and everywhere weaken economic growth by undermining the propensity to save; they are destabilizing the economy by fueling a debt economy.