Tag Archive: Paul Volcker

A Volcker Pan Recession

2022-06-10

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2022-06-10

The Volcker Myth is simple because there isn’t math for it just voodoo economics (to borrow George HW Bush’s phrase). In theory, the FOMC finally realized after more than a decade of currency devastation and its economic, financial, and social consequences, hey, inflation and money.

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The Death of a Business Cycle

2019-01-17

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2019-01-17

How do business cycles end? In the US, conventional wisdom is that they are murdered by the Federal Reserve. It is too slow to raise rates and then goes too quickly. This view is espoused by numerous well-respected economists and policymakers. President Trump's criticism of the Federal Reserve is anchored by such views.

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New Gold Pool at the BIS Switzerland: A Who’s Who of Central Bankers

2017-06-13

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2017-06-13

Bank for International Settlements (BIS) Headquarters
A central bank Gold Pool which many people will be familiar with operated in the gold market between November 1961 and March 1968. That Gold Pool was known as the London Gold Pool.

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New Gold Pool at the BIS Basle: Part 2 – Pool vs Gold for Oil

2017-05-26

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2017-05-26

Gold Price, Spetember 1979 - April 1980
This is Part 2 of a two-part series. The series focuses on collusive discussions and meetings that took place between the world’s most powerful central bankers in late 1979 and 1980 in an attempt to launch a central bank Gold Pool cartel to manipulate and control the free market price of gold. The meetings centered around the Bank for International Settlements (BIS) in Basle, Switzerland.

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New Gold Pool at the BIS Basle, Switzerland: Part 1

2017-05-21

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2017-05-21

“In the Governor’s absence I attended the meeting in Zijlstra’s room in the BIS on the afternoon of Monday, 10th December to continue discussions about a possible gold pool. Emminger, de la Geniere, de Strycker, Leutwiler, Larre and Pohl were present.”  

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Are Rate Hikes Bad For Gold?

2017-02-24

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2017-02-24

Federal Funds Target Rate
Here are two different looks at Fed rate hikes since Volcker. The charts are the same, but one presentation is a lot funnier than the other. Let’s take the fist chart and see what correlations exist between rate hikes and the US dollar index.

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‘Last Economist Standing’ John Taylor Urges “Less Weird Policy” At Jackson Hole

2016-08-25

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2016-08-25

I attended the first monetary-policy conference there in 1982, and I may be the only person to attend both the 1st and the 35th. I know the Tetons will still be there, but virtually everything else will be different. As the Wall Street Journal front page headline screamed out on Monday, central bank Stimulus Efforts Get Weirder. I’m looking forward to it.

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