The financial elites were responsible for putting through the Fed as a governmentally created and sanctioned cartel device to enable the nation's banks to inflate the money supply in a coordinated fashion. ... Read the full post ... Read more

To understand inflation, one must first understand what money is and how to measure it. Please read What is Money and How Does One Measure It? before attempting to understand what follows. Unfortunately there is no general agreement as to the definition of inflation. Here are some of the widely ... Read more

Seriously, ECB president Jean-Claude Trichet cannot possibly be serious when he says Europe Takes U.S. Strong-Dollar Policy Seriously . European Central Bank President Jean-Claude Trichet said officials in the euro area take seriously the U.S. commitment to prevent the dollar from depreciating too m ... Read more

John Tamny of RealClearMarkets President Nixon’s Treasury Secretary John Connally once famously quipped to a gathering of European central bankers that “the dollar may be our currency, but it’s your problem.” Connally got it partially correct. Rather than a problem solely suffered by those o ... Read more

The idea that there is the need for more inflation in order to revive the economy seems preposterous. The yearly rate of growth of monetary pumping as depicted by the Fed's balance sheet jumped from 3.8% in August last year to 152.8% by December 2008. At the end of April, the yearly rate of growth ... Read more

Earlier today Calculated Risk posted a video and links to Krugman's Talk In Spain on March 17. Here is the video. A partial transcript by me follows. Krugman: "I am rather a supporter of Mr. Bernanke at the Federal Reserve which is partly because I think he is the right man for the job, partl ... Read more

Recent media commentaries have billed trillions the new billions as expansive monetary policy has propelled money supply into hitherto unknown stratospheres and the US budget deficit has pierced the 13-digit mark. As a benefit to nature modern-day money creation works without paper and ink. ... ... Read more

John Tamny RealClearMarkets As the year 1970 drew to a close, some of President Richard Nixon's top economic advisors were frantically searching for ways to grow the economy ahead of the '72 elections. Herbert Stein served Nixon as head of the Council of Economic Advisors, and he was of the ... Read more