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Tag Archives: money
A Scam Too Far
A Scam Too Far One of the more politically frustrating aspects of the last decade in the West is the unwillingness of the powers-that-be to address the radical dysfunction that underlies Western political economy. As fact, microcosm and metaphor, the ‘scandal’ of Wells Fargo bank creating millions of fake accounts, charging its customers for the […]
How Much Longer Will Investors Trust the Central Banks?
How Much Longer Will Investors Trust the Central Banks? There is no simple, painless solution. The world has to reduce debt, shrink the financial part of the economy, and change the destructive incentive structures in finance. Individuals in developed countries have to save more and spend less. Companies have to go back to real engineering. […]
Great Causes, a Sea of Debt and the 2017 Recession
Great Causes, a Sea of Debt and the 2017 Recession Great Cause NORMANDY, FRANCE – We continue our work with the bomb squad. Myth disposal is dangerous work: People love their myths more than they love life itself. They may kill for money. But they die for their religions, their governments, their clans… and their […]
George Friedman: Italy Is the Mother of All Systemic Threats
George Friedman: Italy Is the Mother of All Systemic Threats Italy has been in a crisis for at least eight months, though mainstream media did not recognize it until July. This crisis has nothing to do with Brexit, although opponents of Brexit will claim it does. Even if Britain had voted to stay in the EU, […]
Ken Rogoff’s Government Debt Default Plan
Ken Rogoff’s Government Debt Default Plan Ken Rogoff is by all accounts a brilliant man. The Harvard professor and former IMF chief economist is a chess grandmaster. His thesis committee included current Fed vice-chair Stanley Fischer. But like many survivors of Ivy League hoop jumping, the poor fellow appears to have emerged punch drunk. […]
Cash Bans and the Next Crisis
Cash Bans and the Next Crisis Criminalizing Cash Money sometimes goes “full politics”. Take poor Kenneth Rogoff at Harvard. He wants a dollar with a voter registration card, a U.S. flag on its windshield, and a handgun in its belt – the kind of money that supports the Establishment and votes for Hillary. Etatiste tool […]
Control What You Can
Control What You Can Our society does not make it easy to control what you can control. One of the aphorisms to live by here at Of Two Minds is control what you can.We don’t control the erosion of our money from inflation, the state’s vast criminalization machinery, the nation’s foreign policies or the central bank’s free money for […]
There is no such thing as a negative interest rate
There is no such thing as a negative interest rate We Austrian economists are used to having terms corrupted, misused and redefined by statists and others who love and advocate strong central control of money and power. The term “inflation” is a prime example. We Austrians refer to “inflation” as creating new fiat money–as in […]
The Myth Of ‘Morning In America’—–How The Public Debt Went From $1 Trillion to $35 Trillion in Four Decades, Part 1
The Myth Of ‘Morning In America’—–How The Public Debt Went From $1 Trillion to $35 Trillion in Four Decades, Part 1 I have finished my book on the upheaval represented by the Trump candidacy and movement. It will be published soon, and is an exploration of how 30 years of Bubble Finance policies at the Fed, feckless […]
“Helicopter Money” Won’t Fix What’s Broken
“Helicopter Money” Won’t Fix What’s Broken Creating “free money” to support bloated bureaucracies and corrupt cartels only makes the underlying problems worse. The mere mention of helicopter money has intoxicated global stock markets, which have soared on the rumor of Japanese helicopter money. But as I explained in Why Helicopter Money Won’t Push Stocks Higher, central banks funding fiscal spending […]
Death to All Zombies!
Death to All Zombies! Wait a minute. They’re already dead. Brexit just reveals that not everybody’s brains have been eaten. A viral contagion now threatens the zombified institutions of daily life, especially the workings of politics and finance. Just as zombies exist only in the collective imagination, so do these two principal activities of society […]
The Fed’s Doomsday Device
The Fed’s Doomsday Device Bezzle BALTIMORE – Barron’s, in a lather, says the market is facing the “Two Horsemen of the Apocalypse.” Huh? Only two? There were four last time! Supposedly, the so-called Brexit – the vote in Britain this Thursday on whether to leave or remain in the European Union (EU) – and uncertainty […]
Blind Robbery! How the Fed, Banks and Government Steal Our Money
BLIND ROBBERY! HOW THE FED, BANKS AND GOVERNMENT STEAL OUR MONEY Editor’s Note: Philipp’s terrific new book “Blind Robbery! How the Fed, Banks and Government Steal Our Money” is now available (Publisher: FinanzBuch Verlag (June 6, 2016)). You can find it at Amazon here. Below is the introduction. The book gives an excellent outline for beginners as […]
Free Money Leaves Everyone Poorer
Free Money Leaves Everyone Poorer Destroying Lives BALTIMORE – A dear reader reminded us of the comment, supposedly made by Groucho Marx: “A free lunch? You can’t afford a free lunch.” Groucho dispensing valuable advice Photo via imdb.com He was responding to last week’s Diary about the national referendum in Switzerland on Saturday. Voters will decide whether to […]
