segunda-feira, 29 de junho de 2009

Criação de moeda pelos Bancos I

O esquema dos aumentos de capital dos bancos financiando o Banco os próprios Accionistas

Movimentos contabilísticos:

1. Concessão de crédito por criação de moeda

Activo do Banco: Concessão de Crédito ao accionista A em X Euros
Passivo do Banco: Criação de moeda por crédito da conta DO do accionista A em X Euros

2. Aumento de Capital

Passivo do Banco: Conta DO de A é debitada em X Euros para pagamento do aumento de capital
Capitais Próprios do Banco: Aumento de Capital em X Euros


CP: Capitais Próprios sobem em X
C: Carteira de Crédito sobe em X

Rácio de CP para Crédito ou Activo até sobe para = (CP + X / C + X),

É só vantagens... tirando o facto de ser tudo uma ficção.

segunda-feira, 15 de junho de 2009

Islândia - Boom and Bust

In Iceland's specific case, broad-based monetary aggregates such as M1, grew at a rate of 20–30% per annum every year between 2002 and 2007 (...) With a bountiful quantity of liquidity available at historically low prices, the outlets of this monetary expansion saw their values rise to ever greater heights. The average house price in Iceland saw its value increase almost 30% in domestic króna, and every year between 2003 and 2007 saw a greater-than 10% annual price appreciation.

A significant boom had materialized, much of it realized in foreign currency at captivatingly low interest rates. However, when the house of cards finally came tumbling down, this boom sustained on foreign currencies soon came to an end.

Iceland's Banking Crisis: The Meltdown of an Interventionist Financial System, Mises Daily by

quinta-feira, 11 de junho de 2009

Mises, o método da ciência económica e o seu conflito com o Historicismo alemão

Mises claimed in Human Action that the only pure economic science is radical apriorism – using solely deductive reason without the help of experience. He built his entire system on logic and self-evident assumptions, similar to geometry. Mises rejected all forms of inductive aposteriorism, or the use of empirical studies or history to prove a theory. Mises solemnly declared, “Its particular theorems are not open to any verification or falsification on the grounds of experience.” Mark Skousen

"Economics in the second German Reich, as represented by the government-appointed university professors, degenerated into an unsystematic, poorly assorted collection of various scraps of knowledge borrowed from history, geography, technology, jurisprudence, and party politics, larded with deprecatory remarks about the errors in the "abstractions" of the Classical School.

After 1866, the men who came into the academic career had only contempt for "bloodless abstractions." They published historical studies, preferably such as dealt with labor conditions of the recent past. Many of them were firmly convinced that the foremost task of economists was to aid the "people" in the war of liberation they were waging against the "exploiters."

This was the position Gustav Schmoller embraced with regard to economics.
Again and again he blamed the economists for having prematurely made inferences from quantitatively insufficient material. What, in his opinion, was needed in order to substitute a realistic science of economics for the hasty generalizations of the British "armchair" economists was more statistics, more history, and more collection of "material." Out of the results of such research the economists of the future, he maintained, would one day develop new insights by "induction."

The political significance of the work of the Historical School consisted in the fact that it rendered Germany safe for the ideas, the acceptance of which made popular with the German people all those disastrous policies that resulted in the great catastrophes."