Douglas Carswell's Blog

Quote of the day

"There is no means of avoiding the final collapse of a boom brought about by credit expansion. The alternative is only whether the crisis should come sooner as the result of a voluntary abandonment of further credit expansion, or later as a final and total catastrophe of the currency system involved" - Ludwig von Mises, Human Action

(Hattip; Daniel Hannan's blog)

Maybe it is not only the Euro in trouble, but the fiat, paper-only currency settlement we've had since 1971?

The Euro, the epitome of a fiat currency being not even backed by a single political authority, is in trouble. Yet QE means the rest of us have no reason to feel smug.

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