Shortly before the Chancellor’s Spring Statement, BBC2’s “Newsnight” featured Kirsty Wark interviewing two economic experts, one Conservative, one Labour. She asked each of them to describe the measures they would recommend to the Chancellor, Rishi [more…]
Well, currency debasement is pretty bad, as a few key statistics will reveal, but first some background. At the Bretton Woods Conference in 1944 the US agreed that it would redeem dollars for gold at [more…]
What almost everyone calls “inflation” is really a rise in the general price level. OK. But the real definition of “inflation” is inflation of the money supply. A rise in the general price level is [more…]
In Lewis Carroll’s “Through the Looking-Glass” Humpty Dumpty tells Alice: “When I use a word it means just what I choose it to mean—neither more nor less.” Humpty’s subjective approach to verbal meanings is of [more…]
Any catalogue of economic legends would of course include the 2008 visit of Queen Elizabeth to the London School of Economics, when the country was experiencing an unprecedented housing market bubble based on the irrational [more…]
Over the second half of January, we witnessed a fresh wave of volatility in equity markets, culminating in a pullback that caused widespread concern and endless headlines in the mainstream financial press. There was speculation [more…]
Mention the term “legal tender” in polite company and most people will resemble a deer in the headlights. In simple terms legal tender laws grant monopoly status to money, usually fiat, produced by government; i.e., [more…]
I have written on the subject of currency debasement many times, but it is now reaching crunch-time – even for the pound, dollar, yen and euro. Most respected economists persist in defining inflation as a [more…]
Copyright © 2025 | MH Magazine WordPress Theme by MH Themes