<blockquote>'..policy which relies on a forecast (model) based on a real economy only without a financial sector – without taking into account money and Credit in a sensible way - is not anymore state of the art. If you have just such a narrow aspect - in contrast to our experience, again, that price stability is not enough – it’s not enough. So, monetary policy has to take into account the development of money and Credit – by that I mean a very broad approach considering all aspects of financial stability..'
- Otmar Issing, February 27, 2014</blockquote>
<blockquote>'In the spirit of “Deja vu all over again,” Bubble analysis is again disparaged and almost completely dismissed. But I’ll make a few predictions. At some point in the future, it will have been obvious to everyone that Federal Reserve monetary policy created historic securities market and asset Bubbles. Everyone will have known that Federal Reserve and global central bank liquidity were instrumental in inflating unprecedented Bubbles throughout the emerging markets. In hindsight, the Chinese Bubble will have been obvious to everyone. For now, I’ll continue chronicling history’s greatest financial Bubble.'
- Doug Noland,
Bundesbankification, February 28, 2014</blockquote>
<blockquote>'..Most people, of course, don’t give any thought to credit expansion .. Credit expansion is fundamentally really a problem of civil rights .. Therefore, representative government can actually be the instigator of credit expansion and inflation.'
- Ludwig von Mises,
'..to defeat all those ideological forces that are operating in favor of credit expansion.'</blockquote>
Context Banking Reform<blockquote>
'..present violation of law..' - Otmar Issing'..economic mainstream..' - '..a “monster” or “legal aberration,”..''What causes depressions is an unsustainable runup in credit and debt that precedes it..''Why ECB Bond-Buying Plans Undermine Democracy' - '..Credit expansion is fundamentally really a problem of civil rights..'Economic Recessions, Banking Reform, and the Future of Capitalism - By Jesús Huerta de Soto'..it’s important to note that monetary inflation is generally an expansion of Credit..'((Hapto)praxeology) - '..Mises’s warning to the world .. not to suppress the market rate of interest in the name of creating prosperity.'(Haptonomy - Affectivity) - Praxeology as the Method of the Social Sciences - (Affective) Phenomenology of the Social World'..Like monetarists, Keynes held no capital theory .. the role time plays..' - Jesús Huerta de Soto'..the Volcker rule..' - 'The operation of 100 percent reserve banking .. Amsterdam..'Mises - Money and Credit - '..the recession was a problem of under-saving, and over-consumption..'(Private property) Money and Credit - 'Centuries of monetary fiasco..''..economics as a science which is always based on human beings..''..Austrian theory is absolutely essential to successfully navigate the treacherous macro investment landscape..'</blockquote>