Alasdair Macleod: On monetary finance and platinum coins


By Alasdair Macleod, Jersey, Channel Islands
Thursday, February 25, 2016

It has become clear to everyone in the financial world that the monetary policies pursued by central banks have completely failed in their objectives.

Central bankers carry on regardless, continuing to ride the speeding money train to the end of the line, a train from which jumping risks serious injury. Independent economists not working for a central bank would be blind not to see the failure, so some of them are thinking up imaginative solutions.

There is a problem with their approach. While recognizing the failure, in their attempts to find alternative solutions they use the same macroeconomic principles that led to the failure in the first place. Let us turn to a classic example of the genre, which is wholly in the public domain. ...

... For the remainder of the commentary:


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