Category: Central Banks

RGTyler: Bitcoin will never replace Gold

Call me old fashioned but I’m still not convinced by this Bitcoin thing. I will admit now that I was an early adopter, back in 2009, but quickly realised that it had no value and that I couldn’t spent it anywhere. And boy do I wish I hadn’t got rid of them. Simply because I

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The Austrian Way: The epic battle between the internet and fiat

As Austro-libertarian nut-jobs we at Bogpaper salivate like dogs in a butcher’s shop when we see new forms of money emerging in the market for our savings and capital. Obviously we’re untrusting of state imposed monetary systems and think legal tenders laws are ridiculous. We don’t think monetary affairs can be run well when they’re

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The Austrian Way: Is this the best account of the financial mess we’re in?

Many of us here at Bogpaper towers and many of you good readers have arrived at a (hopefully considered) structurally bearish view of the financial system after years of thinking, reading and enquiry. We know it’s all about money and banking and that today’s greatest ever experiment in fiat money, hyperactive central banking and state

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The Austrian Way: When will the financial system collapse upon itself?

Those of an Austrian economic mindset find the construction of today’s financial system unfit for purpose, flawed and guaranteed to eventual failure. You know, all that fiat money stuff, bubble economics, 30 times leveraged investment banks, global debt proliferation, proto-Keynesian print-print-and-hope economic management et cetera. If you’re thinking this way, you’ll likely see the thing

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Delingpole on Friday: Does the Bank of England really need a Governess?

Mark Carney, the new Governor of the Bank of England, has announced that it’s about time a woman had his job. I think I know just what he means. These are difficult economic times and it makes sense for businesses to cut costs where they can. Imagine if, for the first time in more than

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The Austrian Way: The Government cocks up banking reform… again

We have grave misgivings about the privileged position granted to the banking and finance industry these last 40 years (you could also say much longer, back to 1913). The good times with their profits and bonuses are too often enjoyed privately, but the costs of failure and collapse are socialised. The whole Washington Wall Street

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The Austrian Way: Why digital currencies could be the best thing since sliced bread

Since August 1971 we’ve been in what we’ve heard called the Bretton Woods II currency paradigm. During this time we’ve seen all too present inflation, declining purchasing power of currencies, seldom balanced budgets and the growing power of central bankers. This central planning in finance has unsurprisingly fuelled growing economic imbalances, unsustainable vendor-financing circuits and

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The Austrian Way: Where we keep our hard earned, out of the banks

Last week we vented about how badly depositors are rewarded for capitalising much of the banking system. In case you missed it, take a look here. Our grievance was not just to do with low interest rates. We simply don’t believe depositors understand the risks they take when lending their hard-earned to the banking mega-casino.

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The Austrian Way: Why the Czechs actually caused the financial crisis

Since 2008 we’ve all heard explanations for why the Great Financial Crises (GFC) occurred and how to solve it. Most of the solutions from the talking heads are BS. We think one of the main reasons we are in today’s financial straits is due to excessive meddling that caused some of the greatest enforcers of

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The Austrian Way: Radio 4 and the divine rights of central bankers

After an eventful decade in office, Sir Mervyn King, Governor of the Bank of England, is preparing to sail off into the sunset. Radio 4 listeners over the weekend may have even noticed him appearing on Desert Island Discs with Kirsty Young. As Sir Mervyn leaves with his obligatory knighthood, superb public pension, public-speaking tour

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