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Tales From The Future
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Tales From The Future. I picked my nickname because many advisors and investors claim they can predict the future of the (stock) markets and somehow pick the winners. I don't. I usually do not engage in short-term trading and myopic analysis (quarter by quarter, without looking at the big... More
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  • Fiat Money, FRB And Currency Standards - Part II (Introduction Continued) 1 comment
    Dec 29, 2013 7:50 PM

    A good and short video interview with Steve Keen:

    "Conventional economic theory says 'crisis don't happen' unless they are hit by an [outside] shock" exclaims Steve Keen, adding that numerous Nobel Prize winning economists have suggested that "capitalism is stable..." and "the problem of avoiding depressions has been solved for many decades."

    But as Keen explains in this brief but extremely succinct interview, they are wrong - and simply won't (or can't) see the next one coming. "People in the public think economists are experts on money; but, in fact, they are experts in finding ways not to include money, debt, and banks in their models"

    www.zerohedge.com/news/2013-12-29/steve-...-coming

    (Video in link)

    A comment following the linked article hits the nail on the head:

    It's about FRACTIONAL RESERVE BANKING and the CREDIT COLLAPSE when the leveraged credit expansion goes into reverse. He's right, mainstream economists NEVER want to talk about this problem.

    PS: I will write a longer part III later (2014), this important topic needs a longer discussion.

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  • Tales From The Future
    , contributor
    Comments (4768) | Send Message
     
    Author’s reply » I did mention Keen before in an Instablog entry linked below, unfortunately he doesn't get the attention from mainstream economics he would deserve:

     

    http://bit.ly/18SDb93
    29 Dec 2013, 07:51 PM Reply Like
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