Sublime
An inspiration engine for ideas
“gold standard” has a nice ring to it; however, the system made for catastrophic monetary policy during the Great Depression and can seriously impair monetary policy even during normal circumstances. When a currency backed by gold comes under pressure (e.g., because of a weakening economy), foreigners start to demand gold instead of paper. In order
... See moreCharles Wheelan • Naked Economics: Undressing the Dismal Science (Fully Revised and Updated)
Le défaut fatal de l'étalon-or, qui est au cœur de ces deux problèmes, était que le règlement en or physique était encombrant, coûteux et peu sûr ce qui exigeait la centralisation de réserves d'or physique dans quelques lieux – les banques et les banques centrales – les mettant à la merci des États.
Marie Oneissi • l'Étalon-Bitcoin

“How in the hell is it possible for a member of the euro area to say the deficit was 3 percent of GDP when it was really 15 percent?” a senior IMF official asks. “How could you possibly do something like that?”
Michael Lewis • Boomerang: Travels in the New Third World
Beaucoup de gens pensent que les sociétés socialistes appartiennent au passé et que les économies capitalistes sont régies par le libre marché. En réalité, un système capitaliste ne peut fonctionner que dans le cadre d'un libre marché des capitaux où le prix du capital émerge de l'interaction de l'offre et la demande et les décisions des
... See moreMarie Oneissi • l'Étalon-Bitcoin
Countries –like people– tend to borrow more when they are rich than when they are poor, that is, when they don’t need to borrow, then get into trouble with spiraling financial obligations
"The Argentine Exchange: Robbing Pedro to Pay Pablo" was the headline on the swap in a June 5 report by the independent research firm CreditSights. "The unambiguous winners from the exchange are the investment banks," said the report, written by Peter Petas. "The losers, ultimately, will be the Argentine people and whatever investors are unlucky
... See more