“Only a crisis – actual or perceived – produces real change” – Milton Friedman.
Except change is a word which has no prevalence in the banking world. 641 more words
Further reading of Dr Nazeer Ahmed’s insightful history of the Islamic world, and all related developments, brought me to the following piece which touched upon the establishment of the global system of credit, which nowadays drives the global market for capitalism/trade. 940 more words
Further to my last post of this issue, please read this article on inflation targets by The Telegraph’s Alister Heath
Very often I’m being accused of wanting to return to the gold standard. But that’s just silly. It’s true, I do favor the gold standard over fiat currency, but what I’d really like is to abolish all standards and let people trade in whatever currency they like – gold, silver, copper, platinum, gold-pressed latinum, tobacco… In fact, if two parties agree on such a transaction, they can trade cows for houses, for all I care. 27 more words