Incorrect. I claim to be nothing. You can assume that I haven't finished elementary school, if you like. I'm not the one who's talking about himself as if he were an important innovator of modern economics. I offer no such grandiose theory. I do not claim that there's such a thing as a CT10Govist Economics. You on the other hand, have done so over and over - in your blog, and here on ET. You claim to be an expert in this. You want to be taken seriously. You want your views to be read. So, the burden of proof of expertise is on you: are you actually an expert, or just something spouting off thinly veiled nonsense? They taught you this in basic research right? Extraordinary claims require extraordinary proof. Now, which is the extraordinary claim: CT10Gov's view that a random guy on the internet is probably not a great expert in economics, or Morganist' view, that he's indeed such an expert? I think even the most naive reader would wonder: what are you trying to hide? Again, you make claim to your qualifications. What are they exactly? What do you have to hide?
This is the lost post I will reply to. The fact you make a claim that someone else's view is wrong is a position in itself. I have never made a claim of any position. I have my own school of thought which anyone can have. I had to give it a name. You do not have to be an expert to have a view in any event. You have inferred that. Just because some puts forward their view does not mean they claim expertise either it just means they want o express their view. I have never made any kind of claim of your eduction. I have made a claim at your methods of debate, which do not exist. You do not put forward arguments you attack people. Everyone here knows my qualifications and work. Why don't you tell us yours. If you are trying to embarrass me on the forum you will not successful. In any event why do you bother going to a forum to attack someone? What are you trying to achieve. There has been no interaction with debate just an attack on me. Good bye.
I am one of the greatest economists of our time. I will remain nameless. The CB's have it right. The question we must ask is M8 velocity. M8 is a term not found in textbooks. very complex. It is accelerating 0.07% faster than I have predicted. We will watch it very closely.
I am someone. I don't know about your 'qualifications'. Why don't you enlighten me? Again, I claim to be no expert. In fact, feel free assume I have little or no education. But that doesn't explain why, again, below, you make claim to your qualification and work. I only ask that you tell us what they are. You say everyone knows, so it's not a problem to tell us again, right? Right? Is this question embarrassing? Because I don't think I'm trying to embarrass you by asking you about something you claim everyone knows the answer to, Right? (by the way, I'm not debating you; I've tried once - I give up - it's a waste of time; I merely call to question your claim of qualification).
Precisely. This is just another tragedy of the commons issue (like most major world issues). IMO: When the US took on WORLD base currency role to avoid paying the debt they owed to France in gold, they guaranteed that their currency would fail some day (barring politicians that make choir boys appear as the ultimate incarnate evil). The ROLE of gold as an international currency is that it forces sovereigns to watch their over promises and overspending. There is no appeal and it isn't subject to political interference or plugging gold bars with titanium or shaving roman coins. IMO: Gold doesn't have to be the standard, but something immutable and agreed upon worldwide that CAN"T BE DEBAUCHED EVER significantly must be the standard. Something has to play the role of non-risk base currency (AKA WORLD cash) as a bedrock store of value or there is no quantifying the value of RISK in all other assets. If this fundamental law is violated, then it is easy to see that that base currency will give way to unlimited printing in an increasing exponential curve. The sovereign that touches the third rail of base currency will suffer immense hardship eventually. The good news is that there is still (at this late stage) a way out of the maze. Will they find it? Time will tell. Currently it appears that the FED is directly trying to copy the Japan model (while denying it) of buying every bond produced by government. As the canary in the coal mine, Japan soon may give one clue as to the ultimate endgame. Japan had a net goods surplus, but the US doesn't. Is that fact significant? I don't know but we will see.
I think that gold will be taken more seriously in the future for its value as an asset in financial mechanisms. I know that the Chinese are encouraging people to buy it as an investment.
Is that you Gentle Ben? Could you please define M8 for us if you bring it up? It sounds sexy which is usual for economics.
Hum.... Japan called their monetary action "Quantitative Easing". The Fed called their monetary action "QE".... eeecckk.... the Fed is DEFINITELY trying to hide their doing from us.