Transcribed from Janet Yellen’s Exclusive Interview Was the Federal Reserve justified in bailing out the entire financial system in 2008-9? This is why the Fed was originally set-up in 1913. It is to provide liquidity to the financial system as a
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.
Reprinted from Mises.org After the stock market collapse of 2008 and a decline of 3.4 percent for U.S. GDP in 2009, investors rushed to stash funds in emerging markets (EM) where economies were growing at a 3.1 percent annual rate.
Reprinted from LewRockwell.com Presentation by David A. Stockman to The Committee for the Republic, February 11, 2014 Flask in hand, Boris Yelstin famously mounted a tank outside the Soviet Parliament in August 1991. Presently, the fearsome Red Army stood down—an
Leonardo DiCaprio has been lambasted for romanticizing the life of the real-life “wolf” he recently won best actor for at the Golden Globes. Jordan Belfort, the founder and president of New York investment banking firm Stratton Oakmont, conned small-time investors
There are many limitations to the extent to which banks can expand credit. The main ones are (1) the limitation imposed by required reserves, (2) the limitation imposed by capital leverage ratios, and (3) the limitation imposed by liquidity requirements.
Reprinted from Mises.org On Monday, former Fed official Andrew Huszarpublicly apologized to the American public for his seminal role in executing the Quantitative Easing (QE) program, a program he characterizes as “the greatest backdoor Wall Street bailout of all time,” and
Reprinted from Laissez Faire Today Now, this is sheer entertainment. The Chicago branch of the Federal Reserve has addressed the great monetary question of our day. A researcher has taken a detailed look at the prospects for market-based crypto-currency, with a special
The announcement On 31 October 2013, the world’s leading central banks made an important announcement: They said that they would make their “liquidity swap agreements”, which so far had been temporary in nature, permanent. The official language reads as follows:
International Monetary Fund (IMF) managing director Christine Lagarde recently warned against the “tapering” of Fed asset purchases. In particular she noted the damage that could be done to emerging markets by such a draw down in asset purchases, and the
Hyperinflation is the complete breakdown in the demand for a currency, which means simply that no one wishes to hold it. Everyone wants to get rid of that kind of money as fast as possible. Prices, denominated in the hyper-inflated
Reprinted from the Middletown Press and Journal Back in the heat of the 2008 Republican primary, the candidate debate in South Carolina held a defining moment for the course of American politics. When then-Rep. Ron Paul was asked to clarify
There’s plenty of gushing about the Janet Yellen appointment as Federal Reserve Chairman. Robert says she’s “a real mensch.” Greg Mankiw says President Obama made a great decision in choosing her. “Reports of Janet Yellen’s forthcoming nomination will be greeted
Janet Yellen has just been nominated by Barack Obama to replace Ben Bernanke as chairman of the Federal Reserve. Ms. Yellen is a well-known and respected economist. Her research, some of which pertains to the benefits of trade liberalization, is
We use the term “reserve currency” when referring to the common use of the dollar by other countries when settling their international trade accounts. For example, if Canada buys goods from China, it may pay China in US dollars rather