This review serves up some excellent articles, including CasP's Blair Fix on the "Ritual of Capitalisation", John Komlos on the US economy, and Radhika Desai with Michael Hudson on the "Dollar Creditocracy". But it is Ib Ravn's "educational" article on banking, money creation and credit money that stands out as a uniquely comprehensible introduction to the real existing money system. Highly recommended!
RichardWerner.com Professor Richard A. Werner twitter wikipedia Richard Andreas Werner (born 1967) is a German banking and development economist who is a university professor at De Montfort University. He has proposed the "Quantity Theory of Credit", or "Quantity Theory of Disaggregated Credit", which disaggregates credit creation used for the real economy (GDP transactions) … Continue reading Richard Werner
TheEconomist zur Dominanz des Kreditgeldes, dessen Missachtung durch die orthodoxe Ökonomie und die Schwierigkeiten einer Wirtschafts-Wissenschaft ohne Mensch und Geld
The FED has no way of re-balancing or raising rates without crashing the markets. The FED doesn't want to take the blame. Not again. Even though the markets are crying out for a correction. There is no discipline. The level of incontinence is unprecedented. QE has got to stop. But how? One would like new … Continue reading “Digital Corrections – will crypto save capitalism, and the FED ?”
"A fool is someone who knows the price of everything and the value of nothing". Central banker Mark Carney has diagnosed a crisis in value(s). He doesn't just mean prices being misaligned with values as in frothy asset overvaluations. That's just a symptom of a deeper malaise. The central idea of his book, says the … Continue reading Banking on Values
The UK's Daily Express daily feeds Brexiteers with eye-popping revelations about the imminent implosion of the EU . One soon learns not to put one's money on those. But the unearthing of a 2year old CEP report caught my attention. It's got some eye-popping numbers relevant to Germany's idea of it's position in Europe : … Continue reading Zahlmeister entpuppt sich als Milchmädchen
itv.com/ 4/2021 A time-lapse video feature launched by Google Earth has drawn on nearly four decades of satellite imagery to vividly illustrate how the impact of humans and climate change have affected the planet. https://www.youtube.com/watch?v=5W-zPqrGQWA&t=2s What to do? Wise up off mainstream, from Growth to De- Growth or ALTcurrencies to SustainabilityTheEconomist climate-change hubsee also … Continue reading ECO CRISIS – Climate
"The Best Way to Rob a Bank" - Ben Hunt's article about the tiny Bremer Bundaberg Bank that paid for Gupta buying Krupp is a delightfully illuminating summing up of the Greensill episode. Here are some highlights : "I think that the collapse over the past week of Greensill Capital has a lot of systemic … Continue reading Greensill
monetary phenomenology portal page on INFLATION - updates, articles, books, post, pages 2021 inflation? inflation! – is there a theory beyond the hype? https://gaiageld.com/2021/03/11/inflation-inflation/ 2019 head scratching inflation (and the dumbed-down Phillips curve) https://gaiageld.com/2019/10/21/inflate-scratc/ inflation articles etc updated (12/2021) makronom.de 17/12//2021 Wie real ist das Schreckgespenst der „Lohn-Preis-Spirale“? - Die Angst vor einer Lohn-Preis-Spirale treibt momentan … Continue reading INFLATION
Collective insanity, insurgent revolt or just playing games? Who cares if we can all have a laugh at Mr Moneybags drop his shorts and reveal the entitled shrivel underneath. As Kenan Malik writes in The Guardian "Having been outgamed by a bunch of nerds, the titans of Wall Street did what all entitled people do. They … Continue reading GameStop doesn’t stop the game
You want to change the world? Save humanity from self-destruction? Whether or not you like Yanis Varoufakis, he does seem to have a big heart and possibly a bigger brain than most of us. Just his impressively imagined other banking system is stacked with app-to-date-details hard to keep up with. Don't be distracted by political … Continue reading ANOTHER NOW Dispatches from an Alternative Present by YANIS VAROUFAKIS
Turns out Peter Bofinger is not the only German economist who can see MMT across the sea. There is at least one other. Maybe more to follow? "Say it quietly, but Germany has learnt the lessons of Keynes," argues Thorvaldur Gylfason. Mind you, he is talking fiscal largesse, not ECB money. In the "we are … Continue reading De facto MMT disequilibrating DSGE ?
"The deal broke two historic taboos," writes The Economist. "First, Europe’s leaders agreed that the European Commission ... may incur debt at an unprecedented scale. The NGEU will be funded by borrowing over six years, with bonds issued at maturities extending to 2058. Second, €390bn of the €750bn will be distributed as grants, and hence … Continue reading M & M Push EU Across Rubicon
In einem Artikel vor dem Euro Gipfel schlagen die deutschen Finanz- und Außenminister Olaf Scholz und Heiko Maas flexible ESM-Anpassungen und einen paneuropäischen Garantiefonds vor, um "sehr schnell, unkompliziert und im nötigen Umfang ... gezielte Hilfe zu leisten." Lesen Sie hier den ganzen Artikel Die Minister scheinen einen "möglichen komplexen Kompromiss" vorzuschlagen, wie Adam … Continue reading Schwarze Null Vergiftet Europa
In a pre-summit article, German finance and foreign ministers Olaf Scholz and Heiko Maas suggest flexible ESM adjustments to provide "quick and targeted relief... (and) ... a pan-European guarantee fund to secure loans ... (so) the European Investment Bank (EIB) would ensure liquidity for small and medium-sized enterprises in the EU countries." read the whole … Continue reading Creditors Kill Europe
Is the coronavirus an act of green terrorism? Allegedly the currently globalising coronavirus did not just accidentally escape from the Wuhan virology lab but was deliberately smuggled out by a 21 year old researcher and self declared Greta Thunberg fan. "I wanted to disrupt the earth-killing global economy" declared the biochemistry student who sneaked out … Continue reading Crisis!
blog youtube Zeitpunkt Christoph Pfluger is a Swiss author, publisher and money reform activist who was introduced to the topic in the early 1980's by the late Margrit Kennedy. Das nächste Geld Christoph Pfluger's Buch kommt als bescheidenes Taschenbuch daher, liest sich aber wie das Lebenswerk einer Person die sich seit 30 Jahren … Continue reading Christoph Pfluger
"Almost no chance of a recession this year", concludes Barron's roundtable, "markets will gain despite looming risks." "Recession has been "priced out in a rally for the record books" booms bloomberg and forbes feels that now "only the perennial bears believe" in a 2020 recession. Investors "go into the new decade with a spring in … Continue reading Crisis? What Crisis!
In "The Nature of Money", Geoffrey Ingham draws on neglected traditions in the social sciences to develop a theory of the ‘social relation’ of money. Genuinely multidisciplinary approach, based on a thorough knowledge of theories of money in the social sciencesAn original development of the neglected heterodox theories of moneyNew histories of the origins … Continue reading Geoffrey Ingham
Greta has docked in Lisbon and is on her way to Madrid. Presumably by train. Most will cheer her on. Many will not. Some rather see her drowned like an inconvenient truth. Or hung like a false prophet. Some are annoyed. Some have reservations. And some are changing their minds. I was about Greta Thunberg's … Continue reading The Limits To Greta
HETERO MACRO - Schwarze Null Widerstand - Deutsche Heteros und ökonomische Dissidenten siehe auch >DeGrowth auf Deutsch >Geldforschung >"Stupid German Money" zum Thema : Deutsche Ordo Ortho Oekonomie cambridge.org 10/2021 THE GERMAN ANTI-KEYNES? ON WALTER EUCKEN’S MACROECONOMICSLars P. Feld, Ekkehard A. Köhler, Daniel Nientiedt The work of Walter Eucken (1891–1950), founder of German … Continue reading HETERO MACRO – Schwarze Null Widerstand
Expect nothing but a repeat variation of her 2012 Wolfgang Schäuble laudatio from consummate diplomat Christine Lagarde today. This is not the time to tell the Germans to get over their Schwarze Null fetish and spend money. Maybe there will be the odd softly spoken hint at clever new injection technology tunneling through southern debt mountains toward … Continue reading Lagarde Adagio Offuscato
"Inflation ... has left many observers scratching their heads as to why the current level ... does not match the current state of the real economy ..." said ex ECB board member Sabine Lautenschläger in a recent speech. The Economist discerns "strange new rules", devote a special report to "The End of Inflation?" and concludes that inflation is … Continue reading Head scratching inflation
... is our public money, it is created in our name, backed by our futures. So how come private banks get to create it ? "... there remains widespread misunderstanding of how new money is created, both amongst the general public and many economists, bankers, financial journalists and policymakers. ... the creation of new money and the … Continue reading Fiat Credit Money