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Olduvai III: Catacylsm
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ECB Negative Rate Experiment May Lead to the Worst Financial Crisis in Modern History

ECB Negative Rate Experiment May Lead to the Worst Financial Crisis in Modern History QUESTION: Mr. Armstrong; Your proposition that the quantity of money theory is dead seems to be a true earth shattering proposition. It certainly disproves the Austrian School and the events post 2008 support your statement. The European Central Bank is supposed […]

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Further Thoughts on Gibson’s Paradox

FURTHER THOUGHTS ON GIBSON’S PARADOX  “The paradox is one of the most completely established empirical facts in the whole field of quantitative economics.” – John Maynard Keynes “The Gibson paradox remains an empirical phenomenon without a theoretical explanation” -Friedman and Schwartz “No problem in economics has been more hotly debated.” – Irving Fisher Introduction Two […]

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Why the Quantity of Money Theory is DEAD Wrong

Why the Quantity of Money Theory is DEAD Wrong COMMENT: Bill Gross says you are wrong and helicopter money is coming and the Fed should print trillions to buy government bonds. Any comments? REPLY:Gross is not making a forecast without self-interest. Gross’ “helicopter money” calls for the Federal Reserve and U.S. Treasury to engage in another round […]

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Olduvai IV: Courage
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Olduvai II: Exodus
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