It is now common knowledge that there is a potential domino effect of European sovereign debt contagion in roughly the following order:Greece → Ireland → Portugal → Spain → Italy → UKWhile some people have been writing about this for well ove…
Posts Tagged ‘Laurence Kotlikoff’
Bill Gross: Bernanke Running a Bigger Ponzi Scheme than Charles Ponzi
November 1st, 2010 |
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Bill Gross writes today:Check writing in the trillions is not a bondholder’s friend; it is in fact inflationary, and, if truth be told, somewhat of a Ponzi scheme. Public debt, actually, has always had a Ponzi-like characteristic. Granted, the U.S…
Bank of England Chief Mervyn King Proposes Eliminating Fractional Reserve Banking
October 31st, 2010 |
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Mervyn King – the governor of the Bank of England – has proposed abolishing fractional reserve banking.As the BBC noted last week:Mervyn King, the governor of the Bank of England, has tonight made a big intervention into the debate on banking reform. …
The Fed’s New Round of Quantitative Easing Is Like Trying to Patch Leaking Pipes by Pumping in More Water
August 11th, 2010 |
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Bernanke announced additional quantitative easing yesterday, primarily in the form of buying treasuries to monetize the U.S. debt.Jeff Harding points out that those worried about deflation within the Fed won out over the scared-of-inflation camp:The Fe…
More Evidence that Banks Create Credit Out of Thin Air
March 17th, 2010 |
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I recently provided evidence that banks create credit out of thin air.I’ve just found two more pieces of evidence:(1) William C. Dudley, President and Chief Executive Officer of the Federal Reserve Bank of New York, said in a speech last July:Based on…