Public debt

The ECB Faces a Predicament, the Euro an Impasse

With the now obvious failure of the ECB’s inflationary low interest rate policy, things are now also bad for the euro. The “whatever it takes” approach to saving the euro has reached a point where a reconsideration is necessary.

The Governments Were Financed Through by the Printing Press, And Now We Have Inflation

The rise in inflation does not fall from the sky. Inflation means general devaluation of money, not an increase in individual prices. It is the result of the money glut of the last several decades. Avoiding the dramatic consequences could make things uncomfortable.

Do We Need a ‘Great Reset’, or More Capitalism?

For many, capitalism needs to be reinvented. And yet it proved to be robust, innovative and enormously successful, especially during the pandemic. Thus, the idea of a “Great Reset” merely serves familiar anti-capitalist prejudices.

Inflation Is Always and Everywhere a Monetary Phenomenon, Even in Pandemic and War

Damaged supply chains and war are boosting prices, but they are not the only real cause of rising inflation. The problem is the central banks’ expansionary monetary policy.

The Green (Self-)Deception: Neither Progressive nor Socially Minded

The Greens in Germany are masters at absolving themselves of responsibility for stagnation and failure to modernize. Yet it is primarily they who are responsible for this. They are neither socially minded nor progressive.

What Does the Coronavirus Crisis Teach Us about the Labor Market?

The Covid-19 crisis threw many out of work, many suffered accordingly, and labor markets were also damaged. Depending on the situation, some governments fared better than others. In any case, policymakers can learn a few things from the pandemic.

Paper Money Tricksters: From John Law to Today’s Central Banks

Today’s money experiments follow to the letter the procedure of one of the greatest money tricks in history: the paper money experiment of John Law in France 1716-1720.

Low Interest Rate Policy Cripples the Economy and Reduces Prosperity

Japan’s low interest rate policy began 30 years ago, about 15 years earlier than in the EU. But three decades of low interest rate policy meant three lost decades for Japan. In an interview with Stefan Beig, economist Gunther Schnabl explains why the low interest rate policy is so damaging to prosperity.

How Climate Fears Can Rake in Billions

The decision of the German Constitutional Court on climate policy is presumptuous and far removed from reality. But conservatives and liberals alike are applauding it, because the fear of global catastrophe opens up an inexhaustible source of money.

A New Era: Politicians and Central Banks Reinvent the Wishing-Table

Unbelievable national debts and deficits, direct access of politicians to the printing press and unconditional payments to citizens in the USA. The EU, for its part, is embarking on the path of massive new national debt. Can this possibly end well?

Money Glut, Debt, and Rolling Central Bank Guarantees: Full Steam Ahead towards the Abyss

Central banks have become prisoners of their own policies with their perpetual monetary glut. Everyone knows this, and everyone knows that everyone knows it. But proclaiming a different message, they shirk responsibility. The party must go on at all costs.

Our Superstate: Controlled by Party Headquarters, Bureaucracies—and Central Banks

A new book by Beat Kappeler shows that the separation of powers is being undermined, parliaments are being commanded by governments and bureaucracies, and the debt economy is being financed by central banks. The author also proposes remedies for these issues.

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