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Patrick Barron interviewed re: The Greek Crisis

Friday, July 3rd, 2015 by posted in Banking, Capitalism, Economics, Socialism.
Patrick Barron interviewed re: The Greek Crisis

Patrick Barron: The Greek Crisis and the Impossibility of the Euro Published on Jul 2, 2015 Jeff Deist and Patrick Barron discuss European integration, which pits creditor nations like Germany against hapless debtors like Greece under the yoke of the

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Hayek on the Business Cycle

Thursday, June 25th, 2015 by posted in Banking, Economics.
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[Introduction to Prices and Production and Other Works by F.A. Hayek. Reprinted from Mises.org] Friedrich A. Hayek was barely out of his twenties in 1929 when he published the German versions of the first two works in this collection, Monetary

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Cyclical Changes in Business Conditions

Friday, June 19th, 2015 by posted in Banking, Economics.
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This article is excerpted from The Causes of the Economic Crisis and Other Essays Before and After the Great Depression, chapter 3, part II, “Cyclical Changes in Business Conditions.” The Role of Interest Rates In our economic system, times of

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Austrian Business Cycle Theory: Answering the Critics

Thursday, June 18th, 2015 by posted in Banking, Capitalism, Economics.
Austrian Business Cycle Theory: Answering the Critics

According to the economists of the Austrian School, artificial credit expansion is the primary factor behind the business cycle. Critics have tried to poke holes in the theory, but David Howden shows those holes are just an illusion. https://www.youtube.com/watch?v=oVR79OJgGvA&feature=youtu.be

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Hidden In Fannie and Freddie

Thursday, June 18th, 2015 by posted in Banking, Economics.
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With another financial crisis fast approaching the cause of the ‘08 crash hasn’t been settled. Austrians generally line up on the side of the all-powerful Fed having lowering interest rates below what the market would produce, sending capital into malinvestments:

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The Ultimate Disorganizing Organization Part 2

Wednesday, June 17th, 2015 by posted in Banking, Economics.
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[Testimony before US House Committee on Financial Services Domestic Monetary Policy and Technology Subcommittee, May 8, 2012] Do We Need a Central Bank? Without a central bank, how can a monetary system work? Don’t we need a central bank to

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The Ultimate Disorganizing Organization Part 1

Tuesday, June 16th, 2015 by posted in Banking, Economics.
Federal Reserve teaser

[Testimony before US House Committee on Financial Services Domestic Monetary Policy and Technology Subcommittee, May 8, 2012] I specialize in the economic theory of organizations — their nature, emergence, boundaries, internal structure, and governance — a field that is increasingly

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The Government and the Currency

Thursday, June 11th, 2015 by posted in Banking, Capitalism, Economics.
currency teaser

[Human Action (1949)] Reprinted from Mises.org Media of exchange and money are market phenomena. What makes a thing a medium of exchange or money is the conduct of parties to market transactions. An occasion for dealing with monetary problems appears to

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Gold Verses Fractional Reserves Part 2

Wednesday, June 3rd, 2015 by posted in Banking, Capitalism, Economics.
gold teaser

Reprinted from Mises.org. Article originally appeared in the Freeman May, 1979 The Harmful Consequences We have now to examine the harm that the system does whether or not the pressure to reduce the reserve requirements is continuously successful. Let us

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Gold versus Fractional Reserves Part 1

Tuesday, June 2nd, 2015 by posted in Banking, Economics.
goldt

Reprinted from Mises.org. This article originally appeared in The Freeman, May 1979. The present worldwide inflation has done, and will continue to do, immense harm. But it may eventually lead to one great achievement. It may make it possible to restore

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My letter to the Financial Times, London re: Do bank regulations actually work?

Friday, May 29th, 2015 by posted in Banking, Regulation.

Re: Banks face pushback over surging compliance and regulatory costs Re: ECB warns of risks posed by shadow banking sector Dear Sirs: Nowhere in your excellent article about shareholder concern over whether banks are spending their regulatory compliance money wisely

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Walter Block Responds on Negative Interest Rates

Tuesday, May 26th, 2015 by posted in Banking, Economics.
Hot Orange Interest Rate Border

I thank this author: Bhansali, Vineer. 2015. “Look at Negative-Yielding Bonds as Insurance.” May 20; for mentioning an old publication of mine: Block, Walter E. 1978. “The Negative Rate of Interest: Toward a Taxonomic Critique,” The Journal of Libertarian Studies: An Interdisciplinary

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A Portrait of the Classical Gold Standard

Tuesday, May 26th, 2015 by posted in Banking, Capitalism, Economics.
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Reprinted from Mises.org “The world that disappeared in 1914 appeared, in retrospect, something like our picture of Paradise,” wrote the economist Cecil Hirsch in his June 1934 review of R.W. Hawtrey’s classic, The Art of Central Banking (1933). Hirsch bemoaned

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Should We Dump the Euro?

Monday, May 25th, 2015 by posted in Banking, Capitalism, Uncategorized.
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The Greek drama continues to unfold with the risk of a “Grexit” becoming increasingly likely. Yet, a large majority of the Greek people want to keep the euro. This would force the Greek government to live within its means, which

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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.
printing money

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.
100-dollar-bills-cash teaser

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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