currency debasement Archives - Emile Woolf writes

“Funny-money” and the Cantillon Effect

THOUGHTS ON “LEGAL TENDER” AND GAMES OF PRETENCE Economic Perspectives 54 – April 2019 Few people understand the purpose of so-called “legal tender”. It is widely believed that the government’s legal tender laws protect citizens’ money by formally designating it as the official medium for the settlement of transactions. The Latin root is “tendere”, to […]

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Economic Perspectives 4 – The Inflation Conundrum

The inflation conundrum As an economic term, “inflation” is shorthand for “inflation of the money supply”. The general public, however, usually takes it to mean “rising prices” which is not surprising since one of the common effects of an increase in the money supply is higher prices. However, supporters of government policy often say, “If […]

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You can print money, but not direct its course

Legal claims against top Wall Street banks arising out of the financial crisis have, so far, settled at over $100 billion, and no doubt there will be more. Claims against audit firms for their involvement will surely follow, and it will be interesting to see how far IFRS-compliance will serve as the defence of choice.  […]

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Correspondence with Patrick Baron on the role of money & wealth transfers

From Pat Baron: “Emile, Even Germany is not immune to the predations of the euro.  I keep pointing out that German exporters benefit from euro credit expansion, but at the expense of all other Germans.  This is one reason that Germany is reluctant to put an end to the euro mess…the exporters and their constituents, workers, […]

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