Wednesday, May 1, 2019

The Bitter Fruits of Immoral Monetary Policies

On October 9th the Greek Libertarian economist Dr John Charalambakis spoke on the recent crises, the drama of the euro and the tragedy of Greece in a lecture organized by the Austrian Economics Center

In "Fear the Boom and Bust", economists Keynes and Hayek come back to life to attend an economics conference on the economic crisis. H/t EconStories.TV

Charalambakis: We should have left the banks die

by Federico Fernandez and Raoul Kirschbichler

Crossposted from the Austrian Center

The role of the central bank

The mere existence of central banks raises two very important questions:
1) Do we need a central bank? Why should a central authority dictate the price of money? Can’t the market solve this problem as it does with many other prices?
2) What is the relationship between the bubbles from the past twenty or thirty years and central banks?
Are the Fed, the ECB, the Bank of England and the Bank of Japan to blame for them? The overextension of money supply and the overextension of credit create bubbles.

Strategy (3): Special War

What have minor conflicts in Abkhazia, South Ossetia, Nagorno-Karabakh, Transnistria, Novorossiya, Chechnya, the Baltics, Georgia, Crimea, Ukraine and Hungary have in common? All are examples of Russia involved in what is known as 'Special War'. So what is it? 

April 15, 2014 - BBC report earlier this year from Donetsk in eastern Ukraine where men in unmarked uniforms take control of Government buildings. It's unclear who they are: rebels, agitators or hostile state actors. 

The conflict in Ukraine is a good example of what is known as Special Warfare -- an amalgam of espionage, subversion, even forms of terrorism to attain political ends without actually going to war in any conventional sense. Also diplomacy, misinformation and disinformation play an important role in Special War. Special war is the default setting for countries that are unable or unwilling to fight major wars, but there are prerequisites, above all a degree of cunning and a willingness to accept operational risk to achieve strategic aims.

How Our Monetary System Works and Why It Must Fail

Something isn't right with the economy. Apart from a few happy positivos, we all know that. It isn't just economic and monetary policy. The problem is structural and systemic

In "The Biggest Scam" you are about to learn one of the biggest secrets in the history of the world... For more, visit Hidden Secrets of Money H/t 

In a free banking system, banks will issue their own currencies, as was historically the case. The market will determine which currency will eventually dominate and become the standard. This currency may, or may not be backed up by gold or silver. The central bank would be abolished. 

Strategy (2): Machiavelli, The Pragmatist

Most contemporary politicians hold the view that ends can only be achieved by negotiation and by a Pragmatic take on 'what works'. Consensus leads to the best results for the majority. If that doesn't specifically specifies what is the Good, that is not an accident of nature. 

Five Part docu and audio book about Niccolò Machiavelli (1469–1527), an Italian historian, politician, diplomat, philosopher, humanist, and writer based in Florence during the Renaissance. (Wiki)

Officially Pragmatism is rooted in 19th Century America. Unofficially its principles are much older. Machiavelli was a typical Pragmatist. The philosophy of Pragmatism is a rejection of the idea that the function of thought is knowledge of objective reality. Instead, pragmatists consider thought to be a product of the interaction between organism and environment. The function of thought is a tool for prediction, action, and problem solving, not for knowledge of reality as such. According to Pragmatism, philosophical topics—such as the nature of knowledge, language, concepts, meaning, belief, and science—must be seen in terms of their practical uses and successes rather than in terms of accuracy. It leads to a very curious, irrational and amoral world view. This makes it very dangerous.