Posts by: Detlev Schlichter

Interest in the Austrian School of Economics and the work of Ludwig von Mises has been on the rise for some time, and happily, this trend seems to be continuing, as can be seen, among other things, from the spread of Mises institutes around the world. It gives me great pleasure to announce that I […]

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“Who can print money, will print money” is how my friend Patrick Barron put it succinctly the other day. This adage is worth remembering particularly for those periods when central bankers occasionally take the foot off the gas, either because they genuinely believe they solved the problem, or because they want to make a show […]

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Janet Yellen has a plan. The plan is to exit the ultra-loose policy of the Federal Reserve, and to do so very slowly and very carefully. And by slowly I mean very slowly. 2013, the last year of the Bernanke reign and the sixth year post subprime, was the central bank’s most generous if measured […]

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That David Graeber was not happy with my previous blog did not surprise me. Yet, his reply gave me cause to pause and to reflect. Had I missed something? Had I misunderstood the point he made in his Guardian comment? Here is again Graeber’s response to my blog: “I don’t see why anyone should take […]

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Should we take David Graeber seriously? I see no reason why we should, at least not when he speaks about economics, an area in which he has exhibited a great deal of confusion and considerable prejudice. But many people seem to take him seriously and specifically so when he speaks about economics. David Graber is […]

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The twentieth century witnessed the shift from the classical order of free markets and hard, non-political money – epitomized by the gold standard – to fully elastic money and credit markets under the control of state central banks. This shift was completed in August 1971 with the termination of Bretton Woods, the gold standard’s last […]

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Last week I gave a talk on this topic at the monthly meeting of the Libertarian Alliance (LA). The video is now up on youtube and you can see it here. Please excuse some of the background noise. Conditions were far from ideal. In the room next to ours students were showing a movie. But […]

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Confronted with the possibility that the endgame of the present experiment in extreme monetary accommodation may be higher inflation and even currency disaster, many private investors and portfolio managers respond that they should be okay, since their wealth is protected through allocations to equities and real estate. In contrast to cash and fixed income securities, […]

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The Bitcoin phenomenon has now reached the mainstream media where it met with a reception that ranged from sceptical to outright hostile. The recent volatility in the price of bitcoins and the issues surrounding Bitcoin-exchange Mt. Gox have led to additional negative publicity. In my view, Bitcoin as a monetary concept is potentially a work […]

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Turns out my ‘final’ blog was not so final after all. Yes, it is true. I am coming out of blogger retirement. It has only been a few months since I called it quits but here I am again. Why did I change my mind? First, I received a lot of very nice feedback from […]

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