Paper Money Collapse by Schlichter Detlev S

Author:Schlichter, Detlev S. [Schlichter, Detlev S.]
Language: ru
Format: mobi, epub
Publisher: John Wiley and Sons
Published: 2011-08-30T23:00:00+00:00

And in a world of limitless paper money and lender-of-last-resort central banks, this means that whenever the dislocations created by easy money and artificially low interest rates begin to derail the economy, a credit correction is avoided by a renewed administrative lowering of rates by the central bank and, if required, further additional injections of money. The idea behind this is obvious: The boom is good and should just be enjoyed; the correction is bad and must be avoided at all cost. And with money being now fully elastic, why ever suffer a credit contraction?

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