On Tuesday I wrote an article, “Fractional reserve Banking: The Real Story,” in which I discussed the workings of fractional reserve banking. Mish (Mike Shedlock) responded critically to my article on his blog, “Central Bank Authorized Fraud; Fractional Reserve Lending Problems Go Far Beyond “Duration Mismatch“. This post is a response to his comments. I [...]
I want to follow up on several things I mentioned yesterday, mainly the state of banks and credit in America.
In yesterday’s article, “Goldman Says Fed May Need To Print $4 Trillion To Start Inflation,” I said:
Before we get back to the Fed, I think it is important that we are seeing a growing [...]
By Jeff Harding.
Dr. Frank Shostak is Chief Economist for MF Global, the former trading arm of Man Financial, the world’s largest hedge fund. Man spun off MF Global as a stand-alone company. I believe he is the best (Austrian school) economist out there in applied economics because he makes his living prognosticating for a [...]