Friday, August 5, 2011  As The World Burns         Anonymous
said...  Do you seriously think you can have a common monetary
policy (the Euro) without a common fiscal policy? Do you,
really?  Of course I do. But we certainly do not mean the same
thing when we talk currency.  Are talking use and abuse of
seigneurage ?  Currency is only a medium of exchange it is as
well a place where I can save my surpluses.  Not lose its
purchasing power on a 2 to 5% percent annually. Just because it
is liquid or supposed to be...  By the way there have a couple
of countries following those rules in the past. Not
unsuccessfully.  When a country is progressively getting short
its very own currency with large bets against it, could one
expect its academia to produce anything like robust monetary
thinking? Or solid advice on such matters?  IMHO no.  Hellasious
said...  "...a place where I can save my surpluses."  Well,
that's precisely it. WHAT and WHOSE surpluses? The West is awash
in debt and continuing deficits, whilst "China"