'A stable financial system requires clear and transparent capital standards, sound regulation, and above all market discipline to punish reckless behavior. The current panic has shown that none of those exist in the U.S.'
- The Wall Street Journal Editorial Board, March 21, 2023 (Context:
'Financial regulators have ignored their post-2008 rule book to contain the latest banking panic.' - '..a “monstrous” (according to Clemente de Diego) legal institution..')
'How many times do we have to go down the duration mismatch road with fractional reserve lending and nearly $9 trillion of Fed QE to prove the current banking doesn't work?'
- Mish, March 17, 2023 (Context:
'Financial regulators have ignored their post-2008 rule book to contain the latest banking panic.' - '..a “monstrous” (according to Clemente de Diego) legal institution..')
'Banking stands revealed as a part of the state masquerading as part of the private sector. At the least, it needs to be far more robust. Ideally, it would be radically transformed.'
- Martin Wolf (Context:
'Financial regulators have ignored their post-2008 rule book to contain the latest banking panic.' - '..a “monstrous” (according to Clemente de Diego) legal institution..')
'Until specialists and society in general fully grasp the essential theoretical and legal principles associated with money, bank credit, and economic cycles, we may realistically expect further suffering in the world due to damaging economic recessions which will inevitably and perpetually reappear until central banks lose their power to issue paper money with legal tender and bankers lose their government-granted privilege of operating with a fractional reserve.'
- Jesús Huerta de Soto,
(Banking Reform - English/Dutch) '..a truly stable financial and monetary system for the twenty-first century..'Context 'Ethics is the primary.' - 'The Myth of Efficiency' - Murray N. RothbardThe Ongoing Methodenstreit of the Austrian School, 2005
‘The dimension of feeling..’ – ‘The Myth of Efficiency’(Haptonomy - Affectivity) - Praxeology as the Method of the Social Sciences - (Affective) Phenomenology of the Social World(Praxeology) - '..the behaviorist and the experimentalists versus the praxeologists and the philosophers..'Ethical Affective Ambiance in the Electric Universe – Production of Money, Prices and Market(Global Stagflation)(QE Was a Colossal Policy Mistake) - '..wage earners have to get a 14.8 per cent wage increase just to hold even with this kind of inflation..'(Global Stagflation) - German inflation unexpectedly accelerates in February [2023](Banking Reform) - '..And no amount of money-printing will resolve deep structural problems decades in the making..'Army of lobbyists helped water down banking regulations .. '[Congress] doing Wall Street’s bidding.'(Global Stagflation) - '..the Federal Reserve "must unwind" its extraordinary funding facility .. encourages future irresponsible behavior..''..monetary knowledge .. of currency reform under difficult conditions you have to go to Carl Menger.''..the mainstream failure to recognize the dynamic elements of an economy..''..I’ve lost all respect for monetary economists..'(Banking Reform - Monetary Reform) - '..The Theory of Money and Credit .. an invaluable guide for ending the business cycles of our own time.'(Praxeology) - Savings - Economic Growth - 'We Need More Wealth, Not Necessarily More Employment' - Entrepreneurship(Praxeology) - '..Menger’s experience stressed subjective factors..'(Haptopraxeology) - '..We have lost three centuries as a result of ignoring our scholars!'' “Monetary policy… after all, is extremely important” – is an understatement.' - Doug Noland'..a process of transition toward the only world financial order..' - Jesús Huerta de Soto