The Global Curse of the Federal Reserve [electronic resource] : How Investors Can Survive and Profit From Monetary Chaos /
Brown, Brendan.author.
This revised edition offers the most up-to-date advice for investors who wish to defend themselves, or even make a profit from, the blighted policies of the Federal Reserve. Dr. Brown demonstrates how disordered US monetary policy causes waves of economic destruction around the globe.
Description based upon print version of record.
Cover; Half-Title; Title; Copyright; Contents; Acknowledgements; 1 How Monetary Chaos Powers Irrational Exuberance; What is the global curse of the Federal Reserve?; Two forms of economic destruction; How a monetary virus can attack software controlling the invisible hands; How does monetary disorder fuel a rise in speculative temperature?; 2 A 100-Year-Old Monetary Disorder; The golden start which never took place; Crisis as the Great War erupts; Conflict within the Fed during the period of US neutrality; First monetary failure - the great inflation of 1915-16
From goods inflation to the great asset inflation of the 1920sUS dollar and US rates too low, monetary base growth too high; Austrian views of 1920s disequilibrium; Benjamin Strong fuels credit bubble in the Weimar Republic; A revisionist tale of Federal Reserve blunders in the Great Depression; Towards the asset price inflation of 1936-7 and the inevitable Roosevelt recession; A new global dollar standard (1953-71) and still no US monetary stability; The Martin-Burns Federal Reserve destroys the global dollar standard
From the Great Asset Price Inflation of 1957-68 to the crashes of 1969 and 1973-4Towards the Volcker credit and asset bubble; Greenspan heresy fuels bubble and bust in Mexico, Asia -and the USA; How the Fed failed to spot the symptoms of monetary disequilibrium (2003-6); East Asia did not cause the global credit bubble!; 3 Phobia of Deflation; Deflation mythology of the Great Depression; Definitions of deflation - popular, Austrian school and monetarist; Bad deflation stems from bad monetary systems; The origins of deflation phobia; Virulent Bernanke-ite strain of deflation phobia
Deflation and social justiceThe good deflations which did not occur - in the United States, Japan and Switzerland; Fantasies of the money helicopter; Negative interest rate regimes as second best to good deflations; Public spending is a poor alternative to good deflation or negative rates; Counterfactual history of 2008-9 with emergency negative rates and no QE; 4 Manifesto for a Second Monetarist Revolution; How a Keynesian virus infects congressional control of the Fed; First monetarist revolution and its flaws; Counter-revolution of the monetary authoritarians
Towards a second monetarist revolutionAustrian school revolutionaries must stir popular anger!; All monetarist revolutionaries agree on rules and reject discretionary control; Second monetarist revolution distils some lessons from gold and Chicago; Defining monetary stability and its inherent trade-offs; Lesson from 1907 and tulip bulbs; Monetary base control under the gold standard; How to revive monetary base control?; Rebutting the criticisms of MBC; MBC was tried before and failed; Short-term interest rates fluctuate violently
It is not practical for one country to practice MBC on its own
Includes bibliographical references and index.
This revised edition offers the most up-to-date advice for investors who wish to defend themselves, or even make a profit from, the blighted policies of the Federal Reserve. Dr. Brown demonstrates how disordered US monetary policy causes waves of economic destruction around the globe.
Finance
Economic policy.
Accounting.
Economic theory.
Business ethics.
Finance, Public.
Financial History.
Economic Policy.
Accounting/Auditing.
Economic Theory/Quantitative Economics/Mathematical Methods.
Business Ethics.
Public Finance.