His solution for the crisis is 100% Austrian. He proposes a return to the gold standard, as a first step. And, ultimately, free banking.
Kristian Niemietz has more details of his analysis and recommendations, here.
Thursday, December 11, 2008
German Economist Blames 'Fiat Money' for the Current Financial Crisis
Dr. Thorsten Polleit, Chief German Economist for Barclays Capital and Honorary Professor at the School of Finance & Management in Frankfurt gets it. In the online edition of the Handelsblatt, a major German business newspaper, he writes that government-created ’fiat money’ is responsible for the current financial crisis.
His solution for the crisis is 100% Austrian. He proposes a return to the gold standard, as a first step. And, ultimately, free banking.
Kristian Niemietz has more details of his analysis and recommendations, here.
His solution for the crisis is 100% Austrian. He proposes a return to the gold standard, as a first step. And, ultimately, free banking.
Kristian Niemietz has more details of his analysis and recommendations, here.
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