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The Truth About Excess Reserves
Tyler enquires about excess reserves: While the current iteration of the Fed, various recent voodoo economic theories, and assorted blogs, all claim that excess bank reserves are never an inflationary...
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Gold’s Value Today
Way back in 2009, I remember fielding all manner of questions from people wanting to invest in gold, having seen it spike from its turn-of-the-millennium slump, and worried about the state of the wider...
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Krugman’s Inflation Target
The Keynesian blogosphere is up in arms at Ben Bernanke’s response to Krugman’s view that he should pursue a higher inflation target as a debt erasure mechanism. According to Chairman Bernanke: We, the...
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Krugman, Diocletian & Neofeudalism
The entire economics world is abuzz about the intriguing smackdown between Paul Krugman and Ron Paul on Bloomberg. The Guardian summarises: Ron Paul said it’s pretentious for anyone to think they know...
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The Real Testosterone Junkies
I especially enjoy reading things that I disagree with, and that challenge my own beliefs. Strong ideas are made stronger, and weak ideas dissolve in the spotlight of scrutiny. People who are unhappy...
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Global Japan & the Problems with a Debt Jubilee
Bill Buckler critiques the notion of a debt jubilee: The modern “debt jubilee” is characterised as “quantitative easing for the public”. It has been boiled down to a procedure where the central bank...
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Securitisation and Risk
João Santos of the New York Fed notes what forward-thinking financial writers have been thinking for a long, long time: There’s ample evidence that securitization led mortgage lenders to take more...
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Can Tightening Fight the Collateral Shortage?
Tyler Durden of Zero Hedge claims that any taper in QE will be a response to the collateral shortage — the fact that quantitative easing has stripped an important part of the market’s collateral base...
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Why We Should Build The Death Star
In January 2012, Zero Hedge made a sarcastic proposal to boost US GDP by $852 quadrillion — building the Death Star, a fictional moon-sized space station from the Star Wars film series: Building a...
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Can The Fed Taper?
Back in June, I correctly noted that it was severely unlikely that the Federal Reserve would taper its asset buying programs in September. I based this projection on the macroeconomic indicators on...
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