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A critique of monetary policy: Theory and British experience - download pdf or read online

By J. C. R. Dow

ISBN-10: 0191521477

ISBN-13: 9780191521478

ISBN-10: 0198283199

ISBN-13: 9780198283195

ISBN-10: 019828599X

ISBN-13: 9780198285991

Difficult authorised knowledge of economic thought, this examine of the idea of financial coverage in England analyzes the habit of the banking procedure and the problems of significant financial institution keep watch over, and argues that money production is an endogenous procedure, decided in part through the cost point.

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Read e-book online A critique of monetary policy: Theory and British experience PDF

Difficult authorised knowledge of economic thought, this examine of the speculation of financial coverage in England analyzes the habit of the banking approach and the problems of principal financial institution regulate, and argues that money production is an endogenous procedure, decided partially by way of the fee point.

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If you put $100,000 on deposit and the interest rate is negative 1 percent, then at the end of one year you have $99,000 on deposit. Part of your money disappears. Savers can fight negative real rates by going to cash. Assume one saver pulls $100,000 out of the bank and stores the cash safely in a nonbank vault. Another saver leaves her money in the bank and “earns” an interest rate of negative 1 percent. At the end of one year, the first saver still has $100,000, the second saver has $99,000. This example shows why negative interest rates work only in a world without cash.

They will quarantine your money by locking it inside the financial system until the contagion subsides. Ice-nine is hiding in plain sight. Those who are not looking for it cannot see it. Once you know ice-nine is there, you see it everywhere. This was the case after my conversation with my insider friend about the BlackRock asset freeze. The elite ice-nine plan was far more ambitious than the so-called living wills and resolution authority under the 2010 Dodd-Frank legislation. Ice-nine went beyond banks to include insurance companies, industrial companies, and asset managers.

If you still don’t fall into line, the government returns to burn down your store. The Obama administration raised the art of political prosecution to a height not seen since 1934, when the Roosevelt administration sought the indictment of Andrew Mellon, a distinguished former secretary of the treasury. Mellon’s only crimes were being rich and a vocal opponent of FDR. He was eventually acquitted of all charges. Still, a political prosecution played well among FDR’s left-wing cohort. Jamie Dimon, CEO of JPMorgan Chase, learned this lesson the hard way when he publicly criticized Obama’s bank regulatory policy in 2012.

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A critique of monetary policy: Theory and British experience by J. C. R. Dow


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