We should not be surprised that credit in the eurozone is falling along with monetary aggregates. The entire burden of monetary normalization is falling on the productive sector, families, and businesses, while many governments continue to increase deficit spending.
The Fed wants you to believe that neither its negative capital nor its giant losses matter because it is the Fed and can print money. But it does matter because the Fed’s losses will cost not only it, but also the Treasury and the taxpayers, over $100 billion this year.
Contrary to the government's line that "inflation hurts everyone," inflation really is a wealth transfer from those without political power to the politically connected.
Most BRICS currencies are weak and getting weaker, and creating a new joint "BRICS currency" won't solve the problem. Joining together a bunch of weak currencies does not somehow create a strong currency.
Decades of low interest rates have ruined saving in the US economy, and banks are going to pay dearly for it.
"It may be hard to swallow, but central banks were not created for the greater good but to support the state and special interest groups."
Something is very wrong in the developed world when some consider Milei a dangerous radical and say nothing about the radicalism implemented in the Fernandez-Kirchner years.
The Federal Reserve System was originally conceived not as a unitary central bank, but as 12 regional reserve banks. It has evolved a long way toward being a unitary organization since then.
Dr. Murray Sabrin shares his story of how he became an Austrian economist and discusses his analysis predicting a recession later in the year. Tho and Dr. Sabrin also talk about this week's anniversary of Nixon closing the gold window.
David Hume, Adam Smith, and Étienne de Condillac observed that money is neither a consumers' good nor a producers' good and that, therefore, its quantity is irrelevant for the wealth of a nation.
