Fifteen years after embarking on its largely ineffective quantitative easing program, Japan appears poised to try the form recommended by Ben Bernanke in his notorious “helicopter money” speech in 2002. The Japanese test case could finally resolve a longstanding dispute between monetarists and money reformers over the economic effects of government-issued money. When then-Fed Governor […]
Nina Kouprianova is an independent analyst of geopolitics and culture. She earned her PhD (History) from the University of Toronto, focusing on modern and contemporary Russia, culture, and U.S. foreign policy. In this interview we discuss her translations and articles found at Espionage History Archive, Soul of the East and on her own blog, NinaByzantina. Critical of the leftist tyranny in modern academia, Nina tells us about her experiences in the West, as well as her upbringing in Russia.
But how could deflation be threatening the globe when the central banks have pumped many trillions into the world economy?
Initially, quantitative easing (QE) – instituted by most central banks worldwide – actually causes DEFLATION.
In addition, governments on both sides of the Atlantic have encouraged bank manipulation and fraud to try to paper over their problems.
In a recent The Daily Bell interview, Dr. Antal Fekete, who is always a compelling figure (he consistently champions thinking over doctrinaire recitations), suggested that deflation is “a pathological slowing in the velocity of money.” Even though Dr. Fekete perhaps misplaces the locus of this pathology, he deserves kudos for highlighting the overriding behavioral dimension of the current deflation.
William K. Black, author of The Best Way to Rob a Bank Is to Own One, teaches economics and law at the University of Missouri Kansas City (UMKC). Says Black: The media has failed to report on the causes and possible solutions for Europe’s deflating economy.
