hyperinflation

Operation sulfatos

By |2020-05-11T16:59:09-04:00May 11th, 2020|Bonds, Currencies, Economy, Federal Reserve/Monetary Policy, Markets|

The military phase was an all-out joke. Carlos Castillo Armas had fewer than 500 men as his “invasion” force. Yet, with only that many he had expected to take back the entire country. More surprisingly, he succeeded. Lt. Colonel Armas had previously participated in the 1944 Guatemala uprising that had forced Jorge Ubico from power. As a supporter and close [...]

Weimar Ben Didn’t Happen, So Now Weimar Jay?

By |2020-05-04T17:26:01-04:00May 4th, 2020|Bonds, Currencies, Economy, Federal Reserve/Monetary Policy, Markets|

Anna Jacobson Schwartz often gets buried under the mountains of study Milton Friedman conducted on his own. Contrary to what some, perhaps many, might think, Friedman didn’t write A Monetary History by himself. Anna Schwartz was his co-author for what would become one of the most important volumes of economic scholarship of the entire 20th century.Pretty much every central bank [...]

The European Basis For New Monetary Science

By |2016-06-20T17:24:13-04:00June 20th, 2016|Currencies, Economy, Federal Reserve/Monetary Policy, Markets|

Looking back it almost sounds like a completely different world. In the end, however, the world hasn’t changed, perceptions have. On May 10, 2012, German newspaper Spiegel reported that Bundesbank’s (Germany’s central bank) chief of its economics department, Jens Ulbricht, testified in the German parliament that German inflation was likely to be, “somewhat above the average within in the European [...]

QQE Is Clearly Destroying Japan, So BoJ Panics Into More

By |2014-10-31T10:47:15-04:00October 31st, 2014|Bonds, Economy, Federal Reserve/Monetary Policy, Markets, Stocks|

The precursor event of every hyperinflationary episode is not as conventional wisdom currently holds. Certainly there are conditions that are present in each and every one, including desperate fiscal imbalances that ultimately become expressed in growing monetarism, but the true cause that turns those troubling circumstances to total and complete wipeout and disaster is tunnel vision. That was what happened [...]

Currencies Break, Gold Does Not

By |2014-09-09T16:32:17-04:00September 9th, 2014|Bonds, Currencies, Economy, Federal Reserve/Monetary Policy, Markets|

With credit markets in Europe and the US taking a bit of a pause for profit-taking or reassessment, it is notable that currencies have not. The euro finally broke free of what looked like a steady range, though unfortunately to the downside. While that may be celebrated by orthodox economists in Brussels and elsewhere, it should not as such devaluation [...]

The Joyless Street

By |2012-09-23T14:53:47-04:00September 23rd, 2012|Commodities, Currencies, Federal Reserve/Monetary Policy|

By Brian Cronin In striking a blow for democracy, it looks like the preliminary decision of the German Constitutional Court has had an effect on other nations signing on for the permanent bailout fund, the European Stability Mechanism. You will recall the court said that any change to the upper limit of Germany’s commitment (€190 billion) had to be OK’d [...]

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