Dissects deluded views of what money is
MD: Bonds are a form of trading promise spanning time and space. However, they are not money? Why? Because they are not “trader created promises certified under “any” Medium of Exchange (MOE) process”. Rather, they are a promise between one trader and a list of subscribing traders. They “always” have a face value, a term, …
Continue reading “IWB: Greenspan says bond bubble about to burst”
Cafe Hayek: Buchanan accurate and concise summary. MD: This is more of the Saint Buchanan worship coming from Cafe Hayek and Don Boudreaux. When you know what money really is, the quote and the comment are silly on their face. …. is from page 465 of my late colleague Jim Buchanan‘s 1986 Nobel Prize lecture, …
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Venezuela’s currency crumbles at dizzying speed © AFP/File / by Alexander MARTINEZ | In one year, Venezuela’s currency, the bolivar, has lost 94 percent of its value MD: Currencies cannot and do not crumble under a “proper” MOE process. Let’s see what delusion this writer is under as he blindly leads the blind. CARACAS (AFP) – Venezuela’s …
The Deviant Investor A Non-Traditional Perspective Raising the Debt Ceiling = Inflation http://deviantinvestor.com/9122/raising-the-debt-ceiling-inflation/ MD: People agreeing with the principles presented at this site know: (1) Debt is an “in-process promise”. Money in a “proper” Medium of Exchange (MOE) process is created by traders. They make trading promises spanning time and space and get them certified …
Continue reading “Deviant Investor: Raising the debt ceiling = inflation”
Investopedia http://www.investopedia.com/ This Money Delusions site is about removing delusions about money … what it is … how it works … how people are deluded about it. Investopedia is a source of information on money and finance … an authoritative encyclopedia so-to-speak. It turns out that Investopedia, by describing “what is” rather than “what should …
Re: 2017/07/31: http://cafehayek.com/2017/07/bonus-quotation-day-41.html Don Boudreaux seems to be a Mises Monk. He, and the other acolytes, have gone apoplectic over comments by a Nancy MacLean that evidently wrote a book that took some shots at one of their saints … a James Buchanan. This quote is typical of the type presentations you get from these …
Continue reading “Don Boudreaux quoting his St. James Buchanan”
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