Money and Banks

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Frank Shostak

The velocity of money does not have a life of its own. It is not an independent variable and it cannot cause anything, let alone offset the effect of increases in money supply on the prices of goods.

Brendan Brown

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.

Frank Shostak

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. 

Joseph Solis-Mullen

It was government policies that kick-started the engine of financial innovation, wrongly blamed by many in the press and left-leaning academia for this increased economic instability.

Frank Shostak

Years of bubbles and malinvestment have a downside: the destruction of the productive, wealth-building parts of the economy. And that could mean higher interest rates.

Ryan McMaken

Deficit spending—which begets inflationary monetary policy—has been a boon for the financial sector and its billionaires. Naturally, bank CEOs would love to get rid of the debt ceiling. 

Mihai Macovei

The current surge in inflation is not due to a shortage of supply as central banks want us to believe. It is primarily due to soaring consumer demand fueled by monetary creation.