Currency Wars

Discussion in 'Economy' started by TakeAStepBack, Jan 31, 2012.

  1. TakeAStepBack
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    TakeAStepBack Gold Member

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    [ame="http://www.amazon.com/gp/product/1591844495/ref=as_li_tf_tl?ie=UTF8&tag=misesinsti-20&linkCode=as2&camp=1789&creative=9325&creativeASIN=1591844495"]Currency Wars: The Making of the Next Global Crisis[/ame]

    Book Description
    Mises Daily: Tuesday, January 31, 2012 by Doug French



    Looks like an excellent book. Doug French did a nice job putting this one and rothbard's book together here. I'll be picking this one up later today.
     
    Last edited: Jan 31, 2012
  2. editec
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    editec Mr. Forgot-it-All

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    The currency wars are really a form of classism writ large in invisible ink in the economy.

    The first people to get access to the new bucks get the biggest bang from them.

    Who are the first people to gain this advantage?

    The banksters who get them lend money they never had to people who must pay them back for this largess AT INTEREST.
     
  3. TakeAStepBack
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    TakeAStepBack Gold Member

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    That's only part of it. The other part is the unseen devaluation from monetary inflation. This nation, from its very beginning, has been fighting off central banks and interest on money. Largely, today people have completely been indoctrinated that central economic planning is by far the best system for the country. That's false and it leads to a hold host of other systemic problems that we see today. To me, economic warfare is more deadly and sinister than conventional warfare.
     
  4. TakeAStepBack
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    TakeAStepBack Gold Member

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    Oh, and my initial reason for posting. Has anyone read this and if so, is it worth the price of admission?
     
  5. DSGE
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    DSGE VIP Member

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    First off, the "banksters" don't get money for free when the central bank increases the money supply. The central bank injects money through open market operations. That is, they buy bonds. They're not giving banks money; they're swapping interest bearing assets for non-interest bearing assets.

    Second, it's very annoying when people only consider the credit channel of monetary transmission; the so called "new money" being spent by somebody first. Lars Christensen agrees.

    Here's some material detailing the multitude of monetary transmission mechanisms: http://www.bankofengland.co.uk/publications/other/monetary/montrans.pdf
     
  6. TakeAStepBack
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    TakeAStepBack Gold Member

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    Rubbish. i stopped reading here.
     
  7. DSGE
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    DSGE VIP Member

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    What exactly is rubbish? :eusa_eh:
     
  8. expat_panama
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    expat_panama Silver Member

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    That devaluation is so extremely "unseen" that nobody's been able to find any evidence of it ever having happened.
     
  9. TakeAStepBack
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    TakeAStepBack Gold Member

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    It's all in the commentary below the authors grammatically errored blog. He's making false assumptions to provide a point that is completely moot. the difference between "money" and "credit" is the first mistake made. Dropping FNR out of a helicopter into households is a fun thought, but it matches nothing in real economics and therefore, is rubbish.
     
  10. TakeAStepBack
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    TakeAStepBack Gold Member

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    It's very much seen.

    [​IMG]


    But we're getting completely off topic unless someone can point out an argument from the OP or has read the book in question and can offer a review/opinion.
     

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