Michael asks: "You say that inflation from overissue of money (credit) is a tax on the public. OK. What about asset-price inflation of housing and stocks? Is...
050704 Gardiner to Gang Dear Michael, I dashed off the comment to Myers in a hurry so I now set out the correspondence for the Gang's benefit. ... Original...
Geoffrey Gardiner
geoffrey.gardiner@...
Jul 4, 2005 10:58 am
10498
Dear Geoffrey, Your comments remind me of the time we had lunch with Mrs. Thatcher's advisor (I forget his name now), and I mentioned the Russian system of ...
Hudsonmi@...
Jul 4, 2005 1:50 pm
10499
Mixing up credit and debit is catching. In my earlier message I meant to say "the nominal DEBTOR is the government" Geoff...
Geoffrey Gardiner
geoffrey.gardiner@...
Jul 4, 2005 5:36 pm
10500
... From: pae news To: pae news Sent: Tuesday, July 05, 2005 1:50 AM Subject: issue no. 32 of the Post-Autistic Economics Review [G6] Issue no. 32 is attached...
... simply by owing someone else money. The whole argument about "what is money" is largely a hard-money monetarist argument, trying to exclude credit as...
Chris: Re. the following: But credit - which one may think of as the "time to pay" between two barter/exchange events - is not the only source of "Money". Any...
James, ... more than $123,000 for every man, woman and child in the United States. This amount of debt is more than three times the total number of dollars in...
Good point. - with increasing US. debt financing - imports shrink ..... No sense for Chipan to finance US deficit Arno "With an increasing share of foreign...
This Austrian makes the usual hard-money mistake of imagining that there is a "pool" of saving that finances debt. All America has to do is run a balance of...
Hudsonmi@...
Jul 6, 2005 4:07 pm
10506
Dear Geoffrey, I'm working on an article on economic terminology, and I could use some help from you. British law traditionally uses two words for nearly every...
Hudsonmi@...
Jul 6, 2005 5:49 pm
10507
Dear Gang, Upon reading the silly von Misian article that Arno sent, I can see the hopeless confusion in which these hard-money boys reason. Look at their last...
Hudsonmi@...
Jul 6, 2005 5:50 pm
10508
Dear Gang, Inasmuch as Spain used to rule the Netherlands, why not call the Dutch disease the Spanish disease. Didn't Spain let all the gold it looted from the...
Hudsonmi@...
Jul 7, 2005 6:46 am
10509
Michael, There is a blog on the article. http://blog.mises.org/blog/archives/003772.asp - where anyonw can add their comments. Here is the content so far: July...
Arno, What people forget is that an indebted society is a wealthy society. Savings equals borrowings, as you point out. Geoff ... From: Arno Mong Daastoel To:...
Geoffrey Gardiner
geoffrey.gardiner@...
Jul 9, 2005 8:18 am
10511
I should have added to my previous note, that an indebted US signifies that the resist of the world is wealthier. Geoff ... From: Arno Mong Daastoel To:...
Geoffrey Gardiner
geoffrey.gardiner@...
Jul 9, 2005 8:26 am
10512
Michael, But debt does cause saving, automatically. Are you not following Keynes' habit of confusing two meanings of "saving". Thrift is perhaps the word you...
Geoffrey Gardiner
geoffrey.gardiner@...
Jul 9, 2005 8:31 am
10513
Michael, That needs a bit of thought and research, but the obvious example is "Right" (Das Recht) and Law (Loi). "Bond" is English, but "contract",...
Geoffrey Gardiner
geoffrey.gardiner@...
Jul 9, 2005 8:51 am
10514
"How to Deal with the Rise of China" Report by Australian Broadcasting Corporation On 28 June 2005, a report from the Australian Broadcasting Corporation read...
James. As I read through your message, it occurred to me that The American attempt to fight inflation through fiscal and monetary measures in 1969 brought only...
Thanks, Gunnar. Your first proposition seems correct. Your second proposition is probably correct too although you state it as an imperative that makes me a...
Dear James. The U.S. and world monetary scenarios in 1969 and 2005 are light-years apart with respect to such things as effective central bank regulation of...
Dear Gunnar, Thanks for that elaboration. An interesting intellectual exercise. You are right that the policies initiated since 1969 have moved us far from the...
Dear Geoffrey, You wrote to Mr. Myers: "Banks developed in England in the early 18th century in response to the need to finance the enclosure of land, a very ...
Hudsonmi@...
Jul 12, 2005 1:40 pm
10520
Michael, See "Mastering Economic and Social History", David Taylor, Macmillan 1988, Chapter two. But this is not the main source for the statement about the...
Geoffrey Gardiner
geoffrey.gardiner@...
Jul 13, 2005 2:14 pm
10521
Vai augoša zemes vertiba var klut par Rigas nodoklu bazi? Profesors Maikls Hadsons, Misuri universitate (Kanzassitija), profesors Džefs Somerss, Stokholmas...
Hudsonmi@...
Jul 13, 2005 5:11 pm
10522
Geoffrey, ... they have to be backed by a liability. Even the idea that it is a debt which the government never repays is not wholly true for as the note issue...
Terror and the Self How often do you fall in love with yourself? That is a serious question, especially in the light of the monstrous acts of terror in London...
William Greider says - "But to describe plausible remedies is to explain why none are likely. The webs of mutual interests connecting government, corporate...
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