Warren Mosler-en azken liburuxka

Etengabe ari da lanean Mosler.  Oraingo honetan 1994an idatzitako artikulu luzeari[1]   segida eman dio[2]: Soft Currency Economics II (Modern Monetary Theory). What everyone thinks they know about monetary policy is wrong.

Editorialak honela dio[3]:

Autoreaz:  “The author has been called “one [of] the brightest minds in finance” CNBC 2011.”

Liburuaz dioena, ikus oharra[4].

Bere buruaz hauxe dio Mosler-ek[5] (http://www.amazon.com/Warren-Mosler/e/B009R8BA8W/ref=ntt_athr_dp_pel_1).

Bukatzeko bi ohar:

a)      Warren Mosler-ek Hudson-en Superinperialismoa izeneko liburuari kritika zuzen, sendo eta argia egin dio[6].

b)      Mosler-ek hirutan esan dit prest dagoela Euskal Herrira etortzeko. Prest al gaude gu?

[4]  Ingelesezko testua:

This book explains why and how the Federal Reserve and the banking system really operate. It is not the traditional college textbook explanation which still considers currency to be tied to a gold standard. The book explains:

    what is money

    why debt monetization and the money multiplier are myths;

    how fiscal and monetary policy can be used effectuate full employment;

    deficits do not cause countries to default on their debt unless that is the decision

Who is this book for?

Bankers, hedge fund managers, economists, fixed income traders, politicians, or students taking economics will find this book invaluable in understanding how money is created and controlled in the economy.”

Baita hauxe ere:

“Soft Currency Economics was first published in 1996 after the author visited to Rome. In the early 1990s, Italian bonds were trading at a steep discount to Italian corporate debt. From his understanding of fiat currencies, the market had the pricing all wrong. He met with the Italian Treasury who confirmed his understanding of how a fiat currency operates – country with a free floating currency cannot default on its debt unless that is what they want to. The author locked in a leverage 200 basis spread between Italian government and Italian corporate debt. The author explains his Italian epiphany that lead to first publication of Soft Currency Economics. The book became the foundation for what is known as Modern Monetary Theory. Twenty years later, with Italy once again in a banking crisis, the author was invited to speak at a conference in Rome with Mario Draghi (head of the European Central Bank). He explained that because Italy no longer had its own currency the solution in the 1990s was no longer available. He offered three solutions. The speech is included in the book.”

(Hona hemen Italian Mosler-ek aurkeztutako hiru irtenbide: https://www.unibertsitatea.net/blogak/heterodoxia/2012/10/09/mosler-ek-italian-laster-emango-duen-hitzaldiaz/.)

[5]  Ingelesezko testua:

I have a strong background in finance and fixed income trading, and have been responsible for developing a heterodox school of economics called Modern Monetary Theory (MMT).

I am currently running for Congress so that I can get Washington to once again serve a public purpose as explained in my books. http://mosler2012.com. Unemployment is totally unnecessary. An hour of unemployment is an hour of productivity lost forever. This should not happen. I would offer a job to everyone who wanted a job with no “ifs and buts”.

My financial background is extensive. I was a founder of the III investment companies, which had been the number one ranked fund by MAR in risk adjusted returns for the 10 years previous to when I turned control over to my partners in 1997. I originated the ‘mortgage swap’ and in 1996 orchestrated the largest futures delivery to date (over $20 billion notional) in Japan. I have developed the only trading interest rate swap futures contract (in operational terms). I say in operation terms because my product and process was to eliminate the risk and lack of transparency of the existing market by having a centralized clearing system.

Since I was a kid I have always loved speed. I love to build and race cars. Those of you from South Florida will know me from making bets with anyone who believed that they had a car that could beat mine. I designed my cars with the simple solution which was to make it lighter. My car has evolved into the MT900 which has been a very successful racing car in Europe. http://www.moslerauto.com/

Today, I spend my time educating people on economics and how monetary and fiscal policy really operates. My background led to a true understanding about what is money, how it is created, about banking and how the Federal Reserve controls interest rates not money supply.”

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