Paper money wears Prada

posted by
June 28, 2011
Ludwig von Mises Institute
by Doug French  
Posted in Commentary

"Anyone who doubts the world's central banks' ability to send excess liquidity sloshing around the globe only has to look at the recent boom in the area of art and luxury goods. It's always the case that cheap money flows to malinvestment. While the monetary authorities look to create jobs on Main Street, the money inevitably flows to the latest speculative fashion, whatever it happens to be." (06/28/11)  

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