Monetary/Monetary Reform

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"KRUGMAN VERSUS MINSKY: Who Should You Bank On When It Comes to Banking?" by L. Randall Wray · April 2nd, 2012

Readers this is as a concise statement of why MMT economics truly is fully functional, as opposed to ideological and sciencism, aka without science. read away, I have things to do on the local level and material plane of engagement. Tadit

Wray "Last week I explained why Minsky matters, outlining his main contributions. See here: http://www.economonitor.com/lrwray/2012/03/27/why-minsky-matters-part-on...

(Tadit--)this is the url for this article:

"Emerging Outlines of New International Monetary Order" By K.Gajendra Singh, Media With a Conscience, Jan 29th, 2012

Readers, this article covers familiar territory, but from a much different source that has been typical here. What the author refrains from saying directly is that the Bretton Woods agreement was foremost in the interest of the Wall Street bankers and their speculators. It was the US Treasury Secretary Harry Dexter White, a corporate banker himself, which pressed for using the US Dollar as the basis of the new international monetary regimen. His legacy is obscured by describing him as an "internationalist," which in a rarefied sense he was.

"Iceland’s New Bank Disaster"By Olafur Arnarson, Michael Hudson and Gunnar Tomasson*

I'll add a comment later. It contains a good lesson as to what is in store for other sovereign economies, thanks to the lackies at the IMF.

The problem of bank loans gone bad, especially those with government-guarantees such as U.S. student loans and Fannie Mae mortgages, has thrown into questionjust what should be a “fair value” for these debt obligations. Should “fair value” reflect what debtors can pay – that is, pay without going bankrupt? Oris it fair for banks and even vulture funds to get whatever they can squeeze out of debtors?

"The Veil of Secrecy at the Fed Has Been Lifted, Now It's Time for Change" Senator Bernie Sanders of Vermont, Huffington Post

No comment for the moment. fast forward, Tadit

"Modern Monetary Theory Versus Mr. Paul Krugman, and A Way Forward" By Pavlina Tcherneva, UMKC, Economic Perspectives

“There is nothing more deceptive than an obvious fact.”
— Arthur Conan Doyle (The Adventures of Sherlock Holmes)

Pressures on the Paradigm: The Fall of the New Monetary Consensus By L. Randall Wray, UMKC

The following is a paper given at the ASSA conference in Denver this past week for a panel organized by James Galbraith, titled Pressures on the Paradigm, sponsored by Economists for Peace & Security.

Time to Audit the Remic Trusts By L. Randall Wray Benzinga Dec 23, 2010

As I have written, when we peel back the layers of the real estate “onion” what we find is layer after layer of fraud. From the mortgage brokers to the appraisers and lenders, from the securitizers to the ratings agencies and accountants, from the trustees to the servicers, and from MERS (Mortgage Electronic Registry System) through to the foreclosures, what we find is a massive criminal conspiracy—probably the worst in human history. I realize that is a harsh claim but I cannot find any other words that fit.

Death To The New Monetary Consensus And Quantitative Easing L. Randall Wray, UMKC, Benzinga,| Jan. 6, 2011,

Over the past decade and a half a new approach to macroeconomics was developed.

In a sense, it integrated the old Bastard “Keynesian” ISLM model that we all learned in intermediate macroeconomics with a Monetarist-inspired “Taylor Rule” for formulating monetary policy and a dynamic “Phillips Curve” to determine inflation.

We do not need to go deeply into the technical details. What is important is that it relegated fiscal policy to the backburner and brought monetary policy front and center.

Our Holiday Gift Has Arrived((NOT)). It is Dennis Kucinich’s New Bill To Reinstitute Constitutional Money. from TimingLogic Blog

Readers, some of the blogger's statement below are inflated to make this particular person to seem unusual by being "ahead" of all other sources. Cow patties!! Much of this part is simply not true. Steve Keen and much of the UMKC people, and even further back Hyman Minsky predicted this economic collapse. Even the FBI was predicting major levels of banking fraud around 2005, I believe. I will for this moment pardon these ego inflations, because of the advocacy of the Kucinich "NEED" bill which contains the AMI monetary reform proposal.

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