Antony P. Mueller Archive
What's Behind the Financial Market Crisis?
The financial crisis is not over. Neither tax rebates nor low interest rates nor higher or lower exchange rates can do the job of reviving an economy that is burdened by debt loads that are too high. On the contrary: the policy measures that the US authorities have been applying will prolong the agony. Be prepared for the challenges of extended financial turmoil and economic stagnation. FULL ARTICLE
Nightmares of a Central Banker
The record of modern central banking is bleak. Serving as a bailout machine for the financial markets and as a reliable financier of the state, modern central banks by the very nature of their origin and existence do not curb the booms (which they could) and do not prevent recessions or depressions (which they would wish to do but cannot). Monetary policy suffers from the same faults as any other centralized economic policy and other forms of interventionism, and like all centralized economic policies and interventionist measures, the monetary policy of active central banks has been failing again and again. FULL ARTICLE
Dollars and Politics
The performance of the US economy in the 20th century owes much to the predominant role of the US dollar in the international monetary system, and a large part of attaining this role was the result of the political and military supremacy that the United States had gained after World War I. However, in a world where the economic strength of the United States is diminishing relative to other countries and regions, there will be less and less of a place for US dollar privilege. FULL ARTICLE
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