The Eurosystem and ECB are akin to the Soviet Era Monobank
byWe recently wrote about the extraordinary increases in debt financed by seemingly circular transactions between member state borrowing agencies and the ‘Eurosystem’ –the ECB…
The Eurozone Is Going down the Same Stagnating Road as Japan
byThe European Central Bank announced a tapering of the repurchase program on September 9. One would imagine that this is a sensible idea given the recent…
Without valid theory, the knowledge of the world of economics is not possible
byBy Dr Frank Shostak According to popular thinking, it is held that by means of statistical and mathematical methods one can organize an historical…
Modern Monetary Theory: the Name is New, but the “Theory” is Not.
byThe new kid on the economics block is something called modern monetary theory. The name is new, but the “theory” is not. Proponents adamantly claim…
Last Call For Papers: Austrian School Conference at Austrian Central Bank in Vienna
byThis is a great conference, I gave a speech there in 2019 and will be giving another this year. It’s very special to give…
How unbacked lending weakens the wealth generation process
byBy Dr Frank Shostak For most commentators lending is associated with money. However, is this the case? We suggest that a lender lends savings…
Where Does Your Profit Come From?
byA few recent articles bring to the public’s awareness that wealthy investors are preferring not to sell their assets, and thereby pay capital gains…
Jerome Powell’s Quest for Economic Stability is Destabilizing
byWhen the chairman of the Federal Reserve Bank speaks the financial markets listen, and this was no different with Jerome Powell’s virtual address to…
Estonia After 30 Years of Independence: A Role Model for Europe
byby Federico N. Fernández Communism was the worst tragedy ever to befall mankind. However, the brave Estonians weathered the storm and, once they had regained…
Moving from Gold-Redeemable to Irredeemable Currency
byWhen we saw the following comment from a prominent otherwise-free-marketer, we knew it was time to write this article. “…the value of the Fed’s…