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[Paolo Invernizzi]

On Monday, 14 October 2019 at 18:21:24 UTC, jmh530 wrote:
> On Monday, 14 October 2019 at 17:42:33 UTC, Paolo Invernizzi 
> wrote:
>> [snip]
>>
>> Speaking of EU, I'm still a big fun of Huerta de Soto, but 
>> here we move towards money ...
>>
>
> It's been years since I read him, but I recall him making some 
> pretty weak arguments about fractional reserve banking being 
> fraud. I believe either Larry White or George Selgin responded 
> to the arguments, by him and others, sufficiently to suit me. 
> Other Austrians who have the same beliefs about FRB tended to 
> make very bad hyperinflation forecasts in the aftermath of the 
> Great Recession. That being said, I don't know what de Soto 
> predicted at the time.

Oh, I don't want to turn this post in a discussion around 
economics, but I believe, as him, that fractional reserve IS 
fraud ... White and Selgin simply missed the points, but, again, 
who cares at the end ...

Regarding hyperinflation, well, we are since 2008 in a debt 
deflation, Japan history is here to tell us that US and EU are 
doomed to a long travel throw low or negative rates...
today 60 billions/months of FED "it's not a QE it's a different 
things!" are there to testify that ... everything is under 
control ...

But at the end, as usual, a default WILL happen, and we will see, 
if the Austrians fate will be legend or heavy truth ...

End of economic rant, but, hey, I've enjoyed the digression!