Famed Austrian economist Ludwig von Mises wrote in his seminal work, Human Action (originally published by the Yale University Press in 1949), that “There is no means of avoiding the final collapse of a boom brought about by credit expansion. The...
Filed under: Federal reserve, inflation, BRIC, Gold, IMF, OPEC, CDS, OTC derivatives, unemployment, Ben Bernanke, Brazil, debt monetization, RMB, U.S. dollar, International Monetary Fund, European Central Bank, ECB, Austrian economics, crude oil, mortgage fraud, securities fraud, Baltic Dry Index, sovereign default, state sponsored terrorism, FASB, bank failure, credit default swaps, HFT, BDI, monetary policy, money laundering, debt levels, European Monetary Union, OMT, SDRs, debt downgrade, forclosure fraud, GAAP, Australia, zero percent interest rate policy, collapse, recession, stock market crash, High-Frequency Trading, gross notional amount, Ludwig von Mises, consumers, liquidity, LIBOR, UAE, Los Zetas, outright monetary transactions, Organization of the Petroleum Exporting Countries, Portugal, financial markets, depression, Europe, South Africa, Iran, International Swaps and Derivatives Association, Automated Trading Systems, over the counter, Financial Accounting Standards Board, India and China, ATS, Spain, sovereign debt crisis, Human Action, ISDA, Japan, ZIRP, renminbi, Africa. Sistema de Pagamentos em Moeda Local, mark-to-market rule, SML. Special Drawing Rights, EMU, systemic collapse, Generally Accepted Accounting Principles, hyperinflation. gross credit exposure, London Interbank Offered Rate, South America, quantitative easing III, QE3, Russia, United Arab Emirates, Italy. unfunded liabilities, Greece, deficit spending