tag:blogger.com,1999:blog-2277215496195926573.post8193288201255341870..comments2024-01-01T07:41:51.347-08:00Comments on RALPHONOMICS: What’s Ann Pettifor on about?Ralph Musgravehttp://www.blogger.com/profile/09443857766263185665noreply@blogger.comBlogger2125tag:blogger.com,1999:blog-2277215496195926573.post-60984982242691654622016-05-21T06:36:52.533-07:002016-05-21T06:36:52.533-07:00Far as I can see the evidence is that politicians ...Far as I can see the evidence is that politicians behave in a FAIRLY responsible way when they have access to the printing press, with Robert Mugabe and the Weimar period in Germany in the 1920s being being the glaring exceptions to that rule. I’m sure every politician with access to the printing press does A BIT of extra money printing just before elections. However Bill Mitchell (Australian economics prof) produced a chart which shows there is not much relationship between the degree of CB independence and inflation. See chart here:<br /><br />http://bilbo.economicoutlook.net/blog/?p=9922<br /><br />However, like you, I’m still wary of letting politicians near printing presses.<br />Ralph Musgravehttps://www.blogger.com/profile/09443857766263185665noreply@blogger.comtag:blogger.com,1999:blog-2277215496195926573.post-36074240307120931712016-05-21T03:29:32.288-07:002016-05-21T03:29:32.288-07:00Almost perfect, but... the politicians who have re...Almost perfect, but... the politicians who have really attempted to gain oversight on the anarchic central bans have always meet an unnatural death. The independence of the central bank is NOT matched by an independence of the couterparty (the government) because when you have the power of creating money unaccounted for (in the cash flow statement, as an example...) and you can spend it or lend it like crazy, no politic power can resist... Imagine the endgame: you send in the special forces to arrest them all - who can bid their salary higher ? The game is rigged at the beginning with the withdrawal of money creation power in private hands of liers, robbers, dishonest people by design. Célinehttps://www.blogger.com/profile/13815693535197405585noreply@blogger.com