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Inflation is Raging – If You Know Where to Look

by John Rubino on November 25, 2013 · 40 comments

Most people – certainly most governments and economists – define inflation as a general rise in prices. But this is wrong. Inflation is an increase in the money supply, of which a rising general price level is just one possible result – and not the most common one. More often, excessive money creation shows up […]

The Money Bubble Gets Its Grand Rationalization

by John Rubino on November 20, 2013 · 34 comments

Late in the life of every financial bubble, when things have gotten so out of hand that the old ways of judging value or ethics or whatever can no longer be honestly applied, a new idea emerges that, if true, would let the bubble keep inflating forever. During the tech bubble of the late 1990s […]

Where Have All the (New) Dollars Gone?

by John Rubino on October 2, 2013 · 35 comments

A couple of comments on recent DollarCollapse posts have included a strange assertion, that the paper money in circulation in the US is all dated 2009 or before. Apparently there are no new bills: Suzanne, September 4 I’d like to point out something: Look at your cash… you won’t see any paper dollars of any […]

Velocity of Money and the Crack-Up Boom

by John Rubino on May 18, 2013 · 22 comments

Based on both recent history and mainstream economic theory the past few years should not have been possible. When you cut interest rates to near-zero, run deficits of 10% of GDP and buy up every government bond in sight with newly created currency, you get a boom, end of story. That’s just the way capitalism […]

Preparing For Deflation

by John Rubino on May 15, 2013 · 16 comments

Signs of a slowdown are spreading. Here in the US, despite all the happy talk about rising stock prices and falling deficits and the imminent unwinding of the Fed’s debt-monetization program, today’s numbers were ominous: Producer prices post big drop, factory activity weak (Reuters) – U.S. producer prices recorded their largest drop in three years […]

Based on the past few weeks’ stock market action, Japan’s decision to flood the world with yen looks like a raging success. It’s not of course. Here’s a cogent take on the subject from ex-hedge fund manager Bruce Krasting: Japan’s Gains Are Losses For Everyone Else My daughter called last night, she’s made her reservations […]

The Other Currency War

by John Rubino on March 29, 2013 · 26 comments

Most of the recent “currency war” talk refers to countries trying to lower the value of their currencies to gain a trade advantage and/or make their debts more manageable. But this war has another theater, where a weaker currency is not the main goal. Start with the premise that when a country conducts most of […]

Has The Debt Jubilee Already Started?

by John Rubino on January 23, 2013 · 27 comments

There are three fairly radical ideas floating around the monetary policy world right now. The first is economist Ellen Brown’s belief that governments should stop borrowing money and simply create the currency they need, thus bypassing central banks and government bond markets. The second is Australian economist Steve Keen’s debt jubilee, in which governments give […]

Oh What a Tangled Web We Weave

by John Rubino on December 12, 2012 · 13 comments

By the age of 12 or so, most people have learned through bitter experience that dishonesty is hard to pull off, because one lie tends to require more lies, until the complexity of the situation exceeds the liar’s ability keep everything straight. This is just as true for governments as for individuals, especially when it […]

Is a Debt Jubilee the Next Big Meme?

by John Rubino on October 21, 2012 · 25 comments

The idea of a “debt jubilee” — that is, a wide-spread forgiveness of debt as a way to reset the US financial system — has been bouncing around for a while. But it hasn’t gained mainstream traction because it seems, at first glance, to be too simplistic to be worth serious thought. It must have […]


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