A great look at European Central Banking by one of the few remaining classical economists:
http://www.informationclearinghouse.info/article25765.htm
another link:
http://www.kpfa.org/archive/id/61891
TY for this
My humble blog
It's easy to refute an argument if you first misrepresent it. William Keizer
Listening... he started out strong but then he drops the ball when he goes all pro-Keynesian. His analysis gets really muddled.
Clayton -
Hmmm, he suggests perestroika put "old people out on the street". He says that Europe has gone off the far-right extreme since the 80's... this guy is just a dyed-in-the-wool communist. He says that central banks could finance government deficits "for nothing" (i.e. "at no cost") where the foreign commercial banks in the EU are charging interest to service government deficits. He's just plain wacky, even Krugman doesn't say government deficits can be financed "for nothing." The whole "financial war" thing is just a hook, this guy is spouting pure Marxism.
I agree. I think he's full of bullshit. "Keynesians for good reason", "finance debt at no cost" etc.
What he should be attacking are politicians running up debts and then bailing out the bankers.
The only thing I agree with is that the bankers and politicans acting together are financial terrorists.