Posts Tagged ‘ central banks ’

It’s The Central Banks, You Dumb Kids

Oct 25th, 2011 | By | Category: Economics, Featured, Macro Economics
Today, we relented and stopped into a Starbucks this morning for a sandwich and coffee. A realization hit us. We'd been in Seattle -- the home of Starbucks -- for two weeks, just a block south of a Starbucks. Yet we hadn't taken advantage of it! We had never commandeered a ...read more

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Posted in Economics, Featured, Macro Economics | 1 Comment »


Central Banks Aren’t Banks

Sep 26th, 2011 | By | Category: Economics, Featured
I am going to make a number of obvious statements that we all can agree are true, but what they add up to is a startling conclusion. What we call "central banks" are not banks at all. What is a bank? According to a helpful little essay on banks for students ...read more

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Posted in Economics, Featured | 2 comments


Why Policy Advise Is Futile And What You Should Do Instead

Sep 7th, 2011 | By | Category: Featured, Macro Economics
Paper money collapse is inevitable. Our present system of elastic money is not only suboptimal it is also unsustainable. As I show in my book elastic money must lead to the accumulation of imbalances, to capital misallocations, and to resource mis-pricings. Those must lead, over time, to economic disintegration and ...read more

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Posted in Featured, Macro Economics | 8 comments


Debt to Break the Back of the Welfare State

May 13th, 2010 | By | Category: Featured, Macro Economics
Monday was the day the world’s capital markets turned into a giant fiat money casino. Consider yourself warned. You can trade your way to profits this in this market on the tide of easy money being printed now by the Federal Reserve and the European Central Bank. But the financial ...read more

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Posted in Featured, Macro Economics | 12 comments


Gold Will No Longer Be a Toxic Derivative to Central Banks

Aug 18th, 2009 | By | Category: Featured, Gold
"If gold is 'past its day', what of toxic derivatives and today's deluge of US Treasury bonds...?" Just like poor Pip Dickens' Great Expectations, central banks keep inheriting unwelcome bequests. Today's "legacy assets" are toxic derivatives; a decade ago it was gold reserves. Both are proving hard to shrug off, but for ...read more

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Posted in Featured, Gold | 4 comments