Can Government Stimulus Bring Us Out of Recessions?
Expansionary monetary policy causes economic recessions. It doesn't cure them.
Expansionary monetary policy causes economic recessions. It doesn't cure them.
"The power to issue money was essential for the finance of the government … in order to give to government access to the tap where it can draw the money it needs by manufacturing it."
Joseph Salerno discusses the Hoppean method of addressing economic controversies.
The real problem was the money supply inflation that happened during the boom phase. Combating deflation in the bust phase only superficially treats a symptom of the boom-bust cycle.
MMT basically holds that governments have control of unlimited amounts of real wealth — thanks to money-printing power. But if this were really true, countries like the USSR and North Korea could simply create money until they became wealthy nations.
Hoppe wrote in 1990 of the road that governments would take to create a one-world government, one-world central bank, and one-world currency. He was almost spot on.
In this testimony to Congress, Joseph Salerno describes how to fix the problem of fractional reserve banking.
The Bank of Canada's official mandate to promote the “the economic and financial well-being of Canadians,” isn't compatible with the Bank's real mandate which is apparently to look out for the good of a small number of powerful banks.
The Fed and the ECB have taken two different paths since the 2008 crisis. Here's what you need to know.
Bob interviews Nelson Nash, developer of the Infinite Banking Concept.