{"id":60053,"date":"2021-10-23T09:41:10","date_gmt":"2021-10-23T14:41:10","guid":{"rendered":"https:\/\/olduvai.ca\/?p=60053"},"modified":"2021-10-23T09:41:10","modified_gmt":"2021-10-23T14:41:10","slug":"weekly-commentary-a-true-central-banker","status":"publish","type":"post","link":"https:\/\/olduvai.ca\/?p=60053","title":{"rendered":"Weekly Commentary: A True Central Banker"},"content":{"rendered":"<h3 class=\"post-title entry-title\"><a href=\"http:\/\/creditbubblebulletin.blogspot.com\/2021\/10\/weekly-commentary-true-central-banker.html\">Weekly Commentary: A True Central Banker<\/a><\/h3>\n<div class=\"post-header\"><\/div>\n<div id=\"post-body-7358992546330247531\" class=\"post-body entry-content\"><strong>Who can blame him? Certainly not me.<\/strong><\/p>\n<p><i>October 20 \u2013 Financial Times (Martin Arnold and Guy Chazan): \u201cJens Weidmann has decided to step down after a decade as head of Germany\u2019s central bank, only weeks after the country\u2019s general election and shortly before a crucial decision on the future of eurozone monetary policy. The president of the Bundesbank has been one of the most vocal critics of the ultra-loose monetary policy pursued by the European Central Bank, where he fought an often lonely battle against its bond buying and negative interest rate policies. The 53-year-old said\u2026 he was leaving for \u2018personal reasons\u2019. But colleagues said he was tired of opposing ECB policies and expected these frustrations to increase as the economy recovers, inflation rises and the ECB\u2019s generous stimulus becomes harder to justify.\u201d<\/i><\/p>\n<p>Jens Weidmann fought the good fight \u2013 a superior intellectual warrior overwhelmed by the onslaught of rank inflationism. He is a statesman in an age of few, a too often lone voice for sanity in a world of monetary absurdity. The foundation of Weidmann\u2019s analytical framework rests on the profound importance of two simple words (you won\u2019t hear uttered by a U.S. central banker): \u201cstable money.\u201d<\/p>\n<p>Weidmann\u2019s plight is testament to why virtually every central banker falls in line. From the FT: \u201cLabelled by former ECB president Mario Draghi as nein zu allem, no to everything, Weidmann articulated the view of monetary hawks\u2026\u201d While Weidmann resigns with scant fanfare, inflationist extraordinaire \u201cSuper Mario\u201d governs as Italy\u2019s Prime Minister. As for U.S. inflationism luminaries, while it\u2019s unclear if Ben Bernanke still collects millions from lunch dates and appearances ($250k for 40 minutes in Abu Dhabi! ), collaborator Janet Yellen runs the U.S. Treasury.<\/p>\n<p>\u2026click on the above link to read the rest of the article\u2026<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>Weekly Commentary: A True Central Banker Who can blame him? Certainly not me. October 20 \u2013 Financial Times (Martin Arnold and Guy Chazan): \u201cJens Weidmann has decided to step down after a decade as head of Germany\u2019s central bank, only weeks after the country\u2019s general election and shortly before a crucial decision on the future [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[2],"tags":[124,7756,16861,233,32009,32008,455],"class_list":["post-60053","post","type-post","status-publish","format-standard","hentry","category-economics","tag-central-banks","tag-credit-bubble-bulletin","tag-doug-noland","tag-ecb","tag-europen-central-bank","tag-german-central-bank","tag-jens-weidmann"],"_links":{"self":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/60053","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=60053"}],"version-history":[{"count":1,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/60053\/revisions"}],"predecessor-version":[{"id":60054,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/60053\/revisions\/60054"}],"wp:attachment":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=60053"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=60053"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=60053"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}