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No problem and I don't assume anyone here is economics challenged. The video is funny, because from, from the very outset, it uses premises that are simply demonstrably false. For example, the statement that the central bank controls "money supply or inflation" is wrong, because a) it...

This video made me laugh... I will never stop marvelling at the Internet. This quote can just as easily be directed at the creators of the random silly videos posted out there on YouTube. They don't need forgiveness, but they sure know not what they do or say.

Inflation engine? It's quite obvious that Hamilton's efforts to create a central bank had a goal of combating inflation. As to the central bank being a "handmaiden of the executive and legislative branch", I presume he couldn't really imagine anything different. The concept of "central bank...

Precisely... A central bank is like many other institutions we currently have. It's imperfect, but, like I've said many times, it's the least worst solution available.

Indeed, it was Hamilton vs Jefferson and Madison. In the end, Hamilton's vision prevailed (even though it was through a compromise of sorts, as I understood it). You may disagree with Hamilton's ideas, but, in my opinion, there was sound logic to them. Likewise for Jefferson. In the end...

The simplest answer is that, regardless of the real-money sellers, there's one ginormous buyer of JGBs, in unlimited size. That buyer, in order to buy them Jay-Gee-Bees, will need to "sell" large amounts of JPY.

It's tough... The ECB and the Bundesbank have some historical data, but it's not exactly what you need.

I am not sure this is correct... Isn't the type of central bank that exists today a culmination of Alexander Hamilton's vision? And isn't Hamilton considered to be one of the founding fathers?

Firstly, what exactly and specifically is "unfair" about this arrangement? Secondly, what alternative system do you have in mind? And, btw, money isn't really debt.

Huh? Japanese institutions held by foreigners? Come again?

I am in full 100% agreement with you... JPY and maybe NKY are where it's at.

Humm, What if the next print shows Japanese inflation going back down to -0.2% YoY? Would 0.64% JGB yield seem utterly ridiculous? Maybe a more reasonable explanation for the "non-dumping" of JGBs is that the domestic investors just don't believe that positive inflation is there to...

Mrs Thatcher, while far from some sort of a glorified, idealized Saint of Capitalism, was the best leader this country has had since WWII. For sure, she had more substance, attention to detail and ability than any of the PMs who followed. Specifically, she was so much more than Tony Blair...

The chart of real TME (which is the UK term for broad public sector expenditure) is attached. In general, it's a little difficult to generalize, as the ratio on the chart is a function of both the numerator and the denominator. One thing that's somewhat clear is that the Labour-inspired...

I am not sure I would go for something as dramatic as what Soros (as well as a few others) is suggesting. IMHO, if the Eurozone does go, it will be through attrition and Japan-style obsolescence. This article is pretty decent...

Depends on whether she's still a very small minority in the EU parliament. She probably won't be able to do anything drastic. Domestically, her win could be significant, though, and add to her momentum, as well as that of all the other anti-EUR parties.

Well, the European parliament elections are in May 2014. If Front National wins that, it would be a pretty big deal. However, as you point out, the actual presidential elections aren't until May 2017.

Don't y'all worry... Marine Le Pen is leading in the polls, so we're likely to see soon how much better the extreme right-wing is at governing France.

My opinion is that the ECB will not follow the Fed. They have neither the will nor the way, IMHO.

Yeah, for sure... My exhibit B chart is attached (both of these charts are from an excellent "Irish Credit Bubble" paper by Morgan Kelly at the University College Dublin)... I know what you're saying and that you're not arguing with me. All I am suggesting is that the particular flavor of...