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Greeks get Mercedes and BMW’s; Germans get depreciating euros

Monday, May 18th, 2015 by posted in Banking, Economics.

Re: Where Greeks Are Stashing Their Cash Ludwig von Mises characterized the third and final stage of a currency’s collapse, where people are desperate to exchange their currency for almost anything of real value, as a “crack up boom”. Notice

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Leading German Keynesian Economist Calls For Cash Ban

Sunday, May 17th, 2015 by posted in Banking, Capitalism, Civil Liberties.
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Reprinted from Zerohedge.com It’s official: the world has gone central-planner crazy. Monetary policy, whether in the form of “conventional” methods such as the micromanagement of policy rates or so-called “unconventional” measures such as QE, has proven utterly ineffective when it

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The War on Cash Destroys a Small Entrepreneur

Friday, May 15th, 2015 by posted in Banking, Capitalism, Economics, Regulation.
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Reprinted from LewRockwell.com Lyndon McClellan is a small entrepreneur who owns and operates L & M Convenience Mart in Fairmont, North Carolina.  L & M comprises a gas station, convenience store, and a small restaurant serving hot dogs, hamburgers, and catfish

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Canada’s Central Bank is Headed by a Comedian

Wednesday, May 13th, 2015 by posted in Banking, Capitalism, Economics.
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Reprinted from Acting-man.org Yet Another Delusional Bubble Blower Canada is home to one of the most egregious housing and credit bubbles in the world – a legacy of its former central bank governor Mark Carney, who is now blowing a

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The “War on Cash” Migrates to Switzerland

Thursday, May 7th, 2015 by posted in Banking, Capitalism.
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Reprinted from Acting-Man.org Banks Increasingly Refuse Cash Withdrawals – Switzerland Joins the Fun The war on cash is proliferating globally. It appears that the private members of the world’s banking cartels are increasingly joining the fun, even if it means

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Critiquing a Monetary Reform for Iceland

Wednesday, April 22nd, 2015 by posted in Banking, Economics, Politics, Regulation.

The Prime Minister of Iceland recently commissioned a report by Frosti Sigurjonsson (henceforth referred to as “Mr. S”) to recommend a better money and banking system for Iceland. (I’m sorry, but isn’t Frosti a great first name for someone from

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Central Banking Refuted In One Blog—–Thanks Ben!

Tuesday, April 14th, 2015 by posted in Banking, Capitalism, Economics.
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Reprinted from David Stockman’s Contra Corner Blogger Ben’s work is already done. In his very first substantive post as a civilian he gave away all the secrets of the monetary temple. The Bernank actually refuted the case for modern central banking

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Will the New Banking Proposals in Iceland Save it from Economic Instability?

Monday, April 13th, 2015 by posted in Banking, Capitalism, Economics, Politics.

A recent proposal out of Iceland has been making the waves around economics blogosphere. In it, Frosti Sigurjonsson critiques the current fractional-reserve banking system and proposes instead a system he calls “Sovereign Money”. But what is “sovereign money”, how is

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My recent interview on Power Trading Radio

Friday, April 3rd, 2015 by posted in Banking, Capitalism, Economics, Politics, Regulation, Socialism.

  Banking Expert: Germany Should Leave the European Union April 3rd, 2015 Patrick Barron is a consultant to the banking industry. He teaches Austrian school economics at the University of Iowa and Bank Managemant Simulation for the Graduate School of

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What’s so great about the new Asian Infrastructure Investment Bank?

Thursday, April 2nd, 2015 by posted in Banking, Capitalism, Economics.

Recently a friend sent me the updated Wikipedia link about the newly formed Asian Infrastructure Investment Bank that has been in the news so much, mostly gathering glowing endorsements that this is a great undertaking.   http://en.wikipedia.org/wiki/Asian_Infrastructure_Investment_Bank Asian Infrastructure Investment

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The Objectives of Currency Devaluation

Thursday, April 2nd, 2015 by posted in Banking, Capitalism, Economics.
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This article is excerpted from Human Action (1949), chapter 31, “Currency and Credit Manipulation.” In the boom period that ended in 1929, labor unions had succeeded in almost all countries in enforcing wage rates higher than those which the market,

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An Austrian Take on Inflation

Tuesday, March 31st, 2015 by posted in Banking, Economics.
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Reprinted from Cobden Center We know that today’s macroeconomists are very confused about inflation, if only because despite all experience they think they can print money and increase bank credit with a view to generating price inflation at a controlled

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Earth Hour: A Dissent

Monday, March 30th, 2015 by posted in Banking, Environment.
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In 2009 I was asked by a journalist for my thoughts on the importance of Earth Hour. Here is my response. I abhor Earth Hour. Abundant, cheap electricity has been the greatest source of human liberation in the 20th century.

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Household Debt Soars in Canada, “Stability” at Risk

Tuesday, March 24th, 2015 by posted in Banking, Capitalism, Economics.
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Reprinted from Zero Hedge Debt by Canadian households is a special phenomenon. Statistics Canada reported today that in the fourth quarter, household debt set another breath-taking record. Earlier this month, even Equifax Canada, which is in the business of facilitating

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Illusion of Prosperity

Monday, March 23rd, 2015 by posted in Banking, Economics, History.
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President Obama and Federal Reserve chair Janet Yellen have recently been crowing about improving economic conditions in the U.S.  Unemployment is down to 5.5% and economic growth in 2014 hit 2.4%. Journalists and economists point to this improvement as proof

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World’s Oldest Central Bank Asks Paul Krugman To Shut Up

Tuesday, March 17th, 2015 by posted in Banking, Capitalism, Economics.
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Reported from Zero Hedge About a year ago, everyone’s favorite easy money advocate Paul Krugman accused the world’s oldest central bank of turning Sweden into Japan by adopting a policy of “sadomonetarism.” The Riksbank, Krugman claimed, unnecessarily transformed itself from

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Who Will Regulate the Bank Regulators?

Monday, March 16th, 2015 by posted in Banking.
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A fascinating report by Finn Poschmann from the C.D. Howe Institute discusses the history of bank regulation in the U.S., Canada, and U.K. It explains the movement away from shareholder liability in banks, towards the current system where taxpayers are ultimately on

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A good lesson from Greece in the difference between private and public finance

Tuesday, March 10th, 2015 by posted in Banking, Capitalism, Economics, Politics.

From today’s Open Europe news summary (my emphasis): Greece to start technical talks with creditors tomorrow amid criticism that too much time is being wasted Eurozone finance ministers agreed yesterday that officials from the Greek government and the EU/IMF/ECB Troika

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Time for Some Mattress Padding

Thursday, March 5th, 2015 by posted in Banking, Capitalism, Economics.
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Can you imagine borrowing $1000 from the bank and receiving $10 per year interest from the bank? I didn’t think so. However, this is the happy situation facing some European countries and even a few Swiss companies. The Swiss, Swedish, and Danish governments

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Check out John O’Donnell on Mises Weekends

Sunday, March 1st, 2015 by posted in Banking, Capitalism, Economics.
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Make sure you check out investor John O’Donnell discuss applied Austrian economics and his history with Murray Rothbard on the latest Mises Weekends podcast show. You can listen here.

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