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Tag Archives: german schaetze

Real Liquidity Cuts Across Many Boundaries; So Does The Lack of It

Things that happen in one place happen in every place. That’s been the second hardest thing to get people to realize. The first is that central banks are not central. And the reason they aren’t is because of this other factor. It truly is a global system and it’s made that way by its very nature. Credit-based money means that wherever banks operate within it, they transport systemic conditions with them. There’s a lot which is packed into the word offshore. Coming up again on another August...

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As Europe Keeps Falling, The Implications For Europe And Everyone Else

In late March, as global pessimism was renewed in the world’s bond markets, ECB President Mario Draghi appeared as he always does to urge optimism. Yes, Europe’s economy in particular didn’t finish 2018 as he had been expecting. But a soft patch, Draghi said, wouldn’t necessarily “foreshadow [a] serious slump.” The question on the minds of bond investors is, how would he know? That’s ultimately the problem with botching globally synchronized growth. And he has no one else to blame. In hyping...

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