The variation of GDP is inversely proportional to the variation of the free money supply (update, January)
When the money supply grows faster than real GDP, i.e. faster than wealth creation, GDP growth falls, and vice versa… *** Sound money is the…
US inflation is caused by the M2 money bubble (update, January 2023)
The M2 money bubble in the US is huge: more than $7 trillion of unearned money is still sitting unduly in the accounts of Americans……
Overnight Reverse Repo Program to May 18
It’s the big return of the Overnight Reverse Repo Program (ONRRP)! Today, May 18, 91 U.S. banks placed… $1.973 trillion with the Fed overnight so…
The Fed and the interbank market: deciphering accounting manipulations
Abstract Large US banks and hedge funds have suffered heavy losses, especially on derivatives. They lack liquidity. Only the Fed is providing them with liquidity,…
Turkey: growth economy
The French journalist Pierre Jovanovic published reports praising Turkish banks and the growth of this country inhabited by a large majority of Muslims. Indeed, Turkey’s…
Turkey: monetary aggregates and growth
The French journalist Pierre Jovanovic was amazed by the dynamism of Turkey and he drew praise for the Turks. I present in this article the…