26 July 2017 - 26 August 2017 My impression is that “strategists” are very skilled at summarising and expressing current conventional wisdom, i.e., knowing what presently excites the herd. They don't influence mass expectations, and still less do they create them: instead, they … [Read more...] about Leithner Letter No. 213-214
Leithner Letter Nos. 209-212
26 March 2017 - 26 June 2017 Let the directors of the [Second Bank of the United States] pursue their business on principles of Christian benevolence, and all will be well. Let them wind up the business of the Bank, without attempting to break down the government, … and it will … [Read more...] about Leithner Letter Nos. 209-212
Leithner Letter Nos. 205-208
26 November 2016 - 26 February 2017 The FOMC has consistently overestimated future Fed Funds Rate (FFR) hikes. For a body that prides itself on super-scientific research methods and has teams of economists (self-described) and statisticians, it’s interesting that they can’t even … [Read more...] about Leithner Letter Nos. 205-208
Leithner Letter Nos. 200-204
26 July - 26 October 2016 Nobel Prize winning economist and former vice-president of the World Bank, Joseph Stiglitz, praised Venezuela’s economic growth and “positive policies in health and education” during a visit to Caracas on Wednesday. “Venezuela’s economic growth has been … [Read more...] about Leithner Letter Nos. 200-204
Leithner Letter Nos. 196-199
26 March 2016 - 26 June 2016 … There cannot be any question of abolishing interest by any institutions, laws, or devices of bank manipulation. He who wants to “abolish” interest will have to induce people to value an apple available in a hundred years no less than a present … [Read more...] about Leithner Letter Nos. 196-199