Please, click here to read this article in pdf format:Â January 8 2013 This is my first letter of 2013. I was not able to write earlier as I was travelling in Argentina. The situation there is complex and fluid. It
Hyperinflation
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
Why the Chicago Plan is flawed reasoning and would fail
(republished from “A View from the Trenches“) Click here to read this article in pdf format: November 10 2012 On October 21st, 2012, Ambrose Evans-Pritchard wrote a note titled “IMF’s epic plan to conjure away debt and dethrone bankersâ€, on UK’s
On risk convergence, overdertermined systems and hyperinflation
(republished from “A View from the Trenches“, September 30th, 2012) Click here to read this article in pdf format: September 30 2012 This week, we want to follow up on some thoughts from our last two letters, where we deduce the impact of
How Draghi opened the door to hyperinflation and denied the Fed an exit strategy
(republished from “A View from the Trenches“, September 10th, 2012) Click here to read this article in pdf format: September 10 2012 We finally heard the intentions of Mr. Draghi, President of the European Central Bank (“ECBâ€). We only need to
Why the Deflationists’ Argument Is Wrong in Both Theory and Historical Fact
Reprinted from Gary North’s Specific Answers An inflationist is someone who believes that price inflation is the result of two things: (1) monetary inflation and (2) central bank policy. A deflationist is someone who believes that deflation is inevitable, despite
The Death of Banking and Future of Money
Reprinted from Whiskey & Gunpowder Banks are something between dinosaurs and vampires. One thing is now clear to even the most casual observer: banks are not capitalist businesses. In their present incarnation they have little to do with the free
There is no straight path
Click here to read this article in pdf format:Â June 4 2012 The loyal reader knows by now that we have been, perhaps since the start of our publication, expecting a dynamic like the one seen last Friday, namely, lower
Hungary On the Path Toward Hyperinflation?
That is what prominent financial blogger Mike “Mish” Shedlock is asking. See some of his evidence: From Spiegel Online: Public anger over Hungary’s new constitution and a raft of other new laws may be the least of Prime Minister Viktor
Endgame
“There is no means of avoiding the final collapse of a boom brought about by credit expansion. The alternative is only whether the crisis should come sooner as the result of voluntary abandonment of further credit expansion, or later as
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