<blockquote>'It’s a harsh fact of life that “loose money” and attendant Credit and speculative Bubbles provide fertile breeding grounds for fraud and corruption (not even mentioning resource misallocation). Throw Trillions of cheap finance at “developing” financial and economic systems and you’ll at some point be dealing with major problems. And this is fundamental to the “global government finance Bubble” thesis: it’s been six years of history’s greatest and by far most dangerous Bubble. Now that Bubbles are Collapsing and the days of endless “hot money” inflows have turned to a rush for rapidly closing exits, some of the chicanery is coming into clearer view (i.e. Russia, Venezuela, Turkey, Brazil, Mexico, etc.). Just you wait for China.
..
To summarize, six-years of unprecedented fiscal and monetary stimulus have ensured that everyone is today fully dressed up, liquored up, and silly eager for The Big Party. “Anybody seen the punchbowl?” “Where is it, and I mean now!” “Oh crap, where on earth did it go!!” “Who took it away!!” “I’m telling you to bring it back right now or there’s going to be some serious trouble!!!” What a fiasco.'
- Doug Noland,
The Collapsing Periphery, December 12, 2014</blockquote>
Context The Ethics of Money Production - '..the care of souls.' - 'The point is to return to a universal respect for property rights.' -
'..the Magna Carta..'<blockquote>
A warning from the Bank for International Settlements'..central bank measures .. of 2012 .. a catastrophic mistake..''..the unprecedented inflation of non-productive Chinese Credit..''..central bank financing can become addictive like a drug.' - Jens Weidmann'..We are, after all, in the midst of the “Granddaddy of all Bubbles”..''..frantic pounding on the central bank panic button that invites tit-for-tat retaliation around the world..''..the development of money and Credit..''..Austrian theory is absolutely essential to successfully navigate the treacherous macro investment landscape..''..Our central bank has clearly learned nothing from earlier crises..''Benjamin Strong .. his famous stock market “coup de whiskey” in 1927..' - 'Today’s .. increasingly unstable equities market Bubble..'(Global) - '..how monetary policymakers somehow remained oblivious to the havoc they were instrumental in fomenting.''..BOJ, Fed and ECB put an exclamation mark on .. failed monetary management.''The history of monetary fiascos .. to witness them in real time.''Do people make enough effort to understand..'Recalling John Law - By Doug Noland'..the current monetary system, based on credit expansion .. “manic-depressive” behavior..'((Hapto)praxeology) - '..patterns of behavior or human action, such as money, the market, law, etc..'(Hapto)praxeology - '..an entrepreneurial, creative manner .. the subjective information or knowledge people create in the processes of social interaction.'(Haptopraxeology) - Affective Human Action '..even from within the maternal womb.' (economics)</blockquote>