The rise of the money cranks
It’s official: global economic policy is now firmly in the hands of money cranks. The lesson from the events of 2007-2008 should have been…
Detlev Schlichter
Detlev S. Schlichter is a writer and Austrian School economist. He had a 19-year career in financial markets as a derivatives trader and investment manager during which he worked for J.P. Morgan, Merrill Lynch and Western Asset Management. In 2009 he resigned from a senior position in the City of London to focus exclusively on his first book, <a href="http://www.amazon.co.uk/gp/product/1118095758/ref=as_li_ss_tl?ie=UTF8&tag=thecobcen-21&linkCode=as2&camp=1634&creative=19450&creativeASIN=1118095758"><i>Paper Money Collapse – The Folly of Elastic Money and the Coming Monetary Breakdown</i></a>.
Good riddance to deposit ‘insurance’
Once the public furor and shrill media coverage have died down it will become clear that events in Cyprus did not mark the death…
Cyprus and the reality of banking: deposit haircuts are both inevitable and the right thing to do
I, too, was shocked Monday morning. Not so much by the news that depositors at Cypriot banks would face a haircut, or a ‘levy’…
Debt addiction, USA: how much debt reduction has the crisis caused?
The purpose of this essay is to put the latest crisis in the context of longer-term debt trends in the US and to attempt…
Bubble trouble: Is there an end to endless quantitative easing?
The publication, earlier this week, of the Federal Reserve’s Federal Open Market Committee minutes of January 29-30 seemed to have a similar effect on equity markets…
Incredible confusions, Part 2: Of interest and the dangerous habit of suppressing it
The idea that the charging of interest is unethical and should be banned has a long tradition in the history of human civilisation. It…
Incredible confusions Part 1: ‘Positive Money’ and the fallacy of the need for a state money producer
I am usually inclined to encourage the inquiry of the fundamental aspects of money and banking. This is because I tend to believe that…
The true significance of the $1 trillion coin
Under President Obama the debt of the United States government has grown by about 50%, and now stands at close to $16 trillion. Every…
It’s a mad mad mad mad world
Shinzo Abe, Japan’s new prime minister, has some exciting new ideas about how to make Japan’s economy grow. How about the government borrows a…
What’s wrong about the euro, and what is not
Every Monday morning the readers of the UK’s Daily Telegraph are treated to a sermon on the benefits of Keynesian stimulus economics, the dangers of belt-tightening…