Category Archives: Central banking

This category considers issues pertaining to central banking and overall regulation of the banking system.

US Federal Reserve should not increase interest rates

Greetings from London in the early morning! If we went back a few years and dug out all the predictions and scare campaigns that were being issued by mainstream economists and their conservative ‘think tank’ conduits about the impending disaster … Read the rest of this entry »

Posted in Central banking, Economics, US economy | 17 Comments

A central bank can always prevent government default

I have received a lot of E-mails over the weekend about a paper released by the CEPR Policy Portal VOX (June 20, 2015) – Can central banks avoid sovereign debt crises? – which purports to provide “new evidence” to support … Read the rest of this entry »

Posted in Central banking, Economics | 28 Comments

Friday lay day – Australian RBA Governor concludes government policy is failing

Its my Friday lay day blog and today a brief discussion about property price bubbles and how the Reserve Bank of Australia (our central bank) has fallen out with the Australian government. This week, the simmering tension between the Governor … Read the rest of this entry »

Posted in Central banking, Friday | 5 Comments

Bank of England finally catches on – mainstream monetary theory is erroneous

The Bank of England released a new working paper on Friday (May 29, 2015) – Banks are not intermediaries of loanable funds – and why this matters – which further brings the Bank’s public research evidence base into line with … Read the rest of this entry »

Posted in Central banking, Economics | 40 Comments

Central bank politicians who evade democratic scrutiny and election

Last month, the Schweizerische Nationalbank (SNB), the nation’s central bank recorded some large ‘book’ losses after it had abandoned its attempt to stop the Swiss franc (CHF) from appreciating against the euro. It started trying … as a way of … Read the rest of this entry »

Posted in Central banking, Eurozone | 29 Comments

Neo-liberal dynamics restored after the shock of the GFC

There was an article in Bloomberg Op Ed yesterday (May 19, 2015) – U.S. Workers Brought the ‘Great Reset’ on Themselves – which argues that those who bemoan the falling standards of living for workers in terms of job stability, … Read the rest of this entry »

Posted in Central banking, Economics | 20 Comments

Iceland’s Sovereign Money Proposal – Part 2

In Part 1, I briefly outlined the Sovereign Money System proposal (SMS) advanced by the Icelandic government as a way forward in banking reform. I also demonstrated that the banking collapse in Iceland in 2008 could hardly be seen as … Read the rest of this entry »

Posted in Central banking, Economics | 64 Comments

Iceland’s Sovereign Money Proposal – Part 1

In a way this blog is being written to stop the relentless onslaught of E-mails coming, which seek to promote so-called positive money. I am regularly told that I need to forget Modern Monetary Theory (MMT) and instead see the … Read the rest of this entry »

Posted in Central banking, Economics | 66 Comments

Friday lay day – government and central bank venality

Its my Friday lay day blog where I just wander around in the time I allocate to writing this blog. The venality of neo-liberal governments is never far from the surface. The more successful ones manage to mostly hide the … Read the rest of this entry »

Posted in Central banking, Friday, Higher Education | 27 Comments

Bank of England Groupthink exposed

I am travelling a lot today so do not have much time. Apart from my usual projects that are on-going, I started reading the – Court of Directors’ Minutes 2007 – 2009 – that were – released – yesterday (January … Read the rest of this entry »

Posted in Central banking, UK Economy | 12 Comments