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Financial Crime Is A Systemic Risk

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 alternative is only whether the crisis should come...

Posted to Hera by Ron Hera on Tue, Oct 23 2012
Filed under: 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, LIBOR, 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, deficit spending, Greece, Italy. unfunded liabilities, United Arab Emirates, Russia, QE3, quantitative easing III, South America, London Interbank Offered Rate, hyperinflation. gross credit exposure, Generally Accepted Accounting Principles, systemic collapse, EMU, SML. Special Drawing Rights, mark-to-market rule, Africa. Sistema de Pagamentos em Moeda Local, renminbi, ZIRP, Japan, ISDA, Human Action, sovereign debt crisis, Spain, ATS, India and China, Financial Accounting Standards Board, over the counter, Automated Trading Systems, International Swaps and Derivatives Association, Iran, South Africa, Europe, depression, financial markets, Portugal, Organization of the Petroleum Exporting Countries, outright monetary transactions, Los Zetas, UAE

There is no way out

of the current crises but return to sound economic action. As long as we do not take "Human action" serious we'll be fubar. We'll also be fubar while keeping fiat-paper as money. The history of fiat-paper is devastation. And there is no other word which just gets near this meaning....

Posted to F Dominicus Blog by Friedrich Dominicus on Sun, Jul 8 2012
Filed under: Filed under: defraud, sound money, end central banks, end, fiat-paper, way out, exit, Human action

The Action-Axiom: Introduction

The action-axiom is the basis of all praxeology, and it is the basic proposition that all specimens of the species homo sapiens, the homo agens, purposefully utilize means over a period of time in order to achieved desired ends. In Human Action , Mises defined “action” in the sense of the...

Posted to The Critiques: An Analysis by laminustacitus on Sun, Jun 7 2009
Filed under: Filed under: Immanuel Kant, Praxeology, Aristotle, Ludwig von Mises, Action-Axiom, positivism, Human Action