There is growing anticipation that the European Central Bank will pull the QE (quantitative easing) trigger at its upcoming meeting on January 22nd. Never mind that such an action explicitly violates article 104 of the Maastricht treaty (article 123 of
European Central Bank
Mario Draghi, in one of his latest speeches, prodded governments to ease austerity to spur aggregate demand (an oxymoron). The IMF director, Christine Lagarde, recently urged the ECB to continue its easy monetary policy until aggregate demand picks up. U.S.
Reprinted from DetlevSchlichter.com What is Super Mario up to? First, he gave an unexpectedly dovish speech at the Jackson Hole conference, rather ungallantly upstaging the host, Ms Yellen, who was widely anticipated to be the most noteworthy speaker at the
Central bankers must be getting desperate. After the futile effort to boost the global economy via synchronized money printing en masse, they are doubling down on the same failed policy. Now it’s no longer enough to produce endless supplies of
Reprinted from DetlevSchlichter.com The twentieth century witnessed the shift from the classical order of free markets and hard, non-political money – epitomized by the gold standard – to fully elastic money and credit markets under the control of state central banks.
The debate in Europe over what policies the debt ridden countries should pursue is being falsely constructed as a choice between austerity and growth. Not only is there another, more appropriate alternative, but these two alternatives themselves are not properly
What causes hyperinflations and why we have not seen one yet: A forensic examination of dead currencies
Please, click here to read this article in pdf format:Â December 18 2012 As anticipated in my previous letter, today I want to discuss the topic of high or hyperinflation: What triggers it? Is there a common feature in hyperinflations that
Back in April, I reviewed a document called the â€œFinancial System Reviewâ€, published semi-annually by the Bank of Canada.Â Due to the dire warnings contained therein, I thought it necessary to produce a more user-friendly summary of the information the
(republished from “A View from the Trenches“) Please, click here to read this article in pdf format:Â October 14 2012 Today, we were supposed to follow up on our last topic (how to shift to a commodity-based standard, with a
(republished from “A View from the Trenches“,Â September 16th, 2012) Click here to read this article in pdf format:Â September 16 2012 Last week, after the German Bundesverfassungsgericht decided not deactivate the debt monetization program announced by Mr. Draghi a week earlier,
(republished from “A View from the Trenches“,Â September 10th, 2012) Click here to read this article in pdf format:Â September 10 2012 We finally heard the intentions of Mr. Draghi, President of the European Central Bank (â€œECBâ€). We only need to