I very much sympathize with the old school goldbug scepticism about Bitcoin. It’s very reassuring to feel the weight of your money in your hand, and I don’t believe that Bitcoin meets with Mises regression theorem. But even if you don’t see Bitcoin as a sound form of money, you have got to admit that […]

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The Cyprus “bail-in” model of bank rescue, which seems to be gaining popularity, is simply frightening.  Fractional reserve banking is built upon depositors trust in their banks, “for fractional-reserve banking can only exist for as long as the depositors have complete confidence”. Financial regulators are destroying their own system by making depositors fear for the […]

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The BRICS nations, 43 percent of the world’s population, are working on a new “development bank” set to bypass the World Bank and the IMF. “There’s a shift in power from the traditional to the emerging world.” The move is seen as a way for BRICS to protect themselves from the US and Europe’s financial […]

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Good reads from around the Web. I am away for the Easter Weekend, so this is a truncated Weekend Reading. I’m writing on Friday morning. Most of the day hasn’t happened. Who knows what Saturday will bring! However don’t be disheartened, because I’ve got one of the greatest anti-consumerism posts ever written to share. Sadly, […]

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One consequence of the financial crisis has been number inflation. I don’t mean the everyday cost of living inflation that measures how your shopping basket becomes more or less expensive from year to year (although such inflation is ahead of target, and many fear worse). Rather, I mean how the numbers you read in news […]

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