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The art of economics consists in looking not merely at the immediate hut at the longer effects of any act or policy; it consists in tracing the consequences of that policy not merely for one group but for all groups—Henry Hazlitt

Showing posts with label Nixon Shock. Show all posts

Thursday, February 06, 2014

Inflation is a process: 1960-80 Edition

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One observation I recently received concerned about how US Federal Reserve policies allegedly produced an “immediate inflation” in the 1970...

Thursday, August 15, 2013

Quote of the Day: The goal of Nixon Shock is to get foreign governments to hold US debts

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Nixon unilaterally abolished the monetary agreement established in 1944 at Bretton Woods, New Hampshire. At that meeting, the United State...

Monday, August 12, 2013

Will the Triffin Dilemma Haunt the Global Financial Markets?

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As measured by the Dow Jones Industrials US equity benchmark suffered their first loss in 7 weeks. Are these signs of fatigue or are these ...

Thursday, September 27, 2012

Video: F.A. Hayek at BBC (Masters of Money)

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Glad to see the great F. A. Hayek go mainstream Somewhere in the video, Paul Krugman ( Darth Vader ) said that "unregulated ...

Tuesday, August 16, 2011

The US Dollar Standard on its 40th Year

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Known as the Nixon shock , the US dollar-Gold convertibility was closed in August 15, 1971, that’s 40 years ago. How this came about, Cato...

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