The Phaserl


UK Telegraph Struck With Internal Feuding Between Top Columnists Over Money Printing

by The Daily Bell:

Red Pill, Blue Pill … The other day m’learned colleague Ambrose Evans Pritchard wrote a piece in praise of money-printing. What the world needs is more Quantitative Easing, he argued, though this time deployed in “nuclear force.” I have no doubt that this would bring about a full recovery very fast if conducted with enough panache, but is it possible to marshal political consent for such revolutionary action? The Tea Party Congress, like Europe’s bourgeousie, would rather wallow in liquidation, Puritan cleansing, and mass default than tolerate the possibility of a solution. I couldn’t disagree more violently with this analysis. Nor, happily could most of you. The most popular comment response – approved by over 300 readers – countered: In reality, economics is not the fiscal rocket-science you make it sound. Capitalism itself is based on good old-fashioned honesty. The money at the heart of it must be both an honest store-of-value and an efficient medium of exchange. It ceases to be so when the inherent deceits of fractional reserve banking allow trillions of false credit to be pumped into the system, thus forcing up prices (booms) which inevitably lead to over-valued commodities (busts). – James Delingpole/UK Telegraph

Dominant Social Theme: What do we do now? Print! Indeed, we must …

Free-Market Analysis: James Delingpole and Ambrose Evans-Pritchard are now in a literary face-off about money printing and what needs to be done to revive lagging Western economies.

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1 comment to UK Telegraph Struck With Internal Feuding Between Top Columnists Over Money Printing

  • Ed_B

    Maybe those of us who hold a significant portion of our wealth in PMs should just say, “WTF, guys… print all that cheap fiat crap that you want and be done with this foolishness”.

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