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’Negative interest in cash, or goodbye banknotes
[Cash] is a redundant, indeed dominated medium of exchange and means of payment for legitimate transactions.
Or at least so says Willem Buiter, former BoE MPC member, and Maverick economist blogger in one of his recent negative-interest rate postings.
Why the ECB is a good bank with rubbish assets
From former Bank of England MPC member Willem Buiter’s Mavercon blog on Friday:
It is clear that if the ECB were all there is to the Eurosystem, the Euro Area would be in trouble. The ECB has negligible capital (€ 5 billion subscribed,
Euro-pain crisis
The Eurozone January trade deficit has come in somewhat wider than expected at €10.5bn versus a downwardly revised gap of €1.7bn in December.
According to Howard Archer, Chief UK and European Economist at IHS Global Insight,
Introducing the ‘submerging markets’ of the UK, US
Mavercon blogger and former Bank of England MPC member Willem Buiter is back with an interesting view of the UK and US positions in the current financial crisis. In fact, he coins a whole new economic classification for them – behold the ‘submerging markets’.
Albert Edwards LOL China
As the debate over how bad things in China are rages on, growing Sino-sceptic Albert Edwards offers his two pennies on the country’s latest statistics.
Well, to be accurate, he laughs out loud at them:
Buiter goes pamphleteering
Not much of a surprise here, but former Bank of England member and prolific blogger Willem Buiter is poised to make a big push today for the UK to join the eurozone.
Buiter is joining 31 academics and financial figures,
Desperate times: central banks as buyers of last resort
How close are we to the point where central banks will start to buy impaired securities outright?
In thinking, at least, not far. Professors Willem Buiter and Anne Sibert were talking about central banks making “outright purchases”
Buiter: Northern Rock bail out was wrong; the BoE is a ‘paper tiger’
He’s an LSE professor, former chief economist at the EBRD and a former member of the Bank of England’s monetary policy committee. So we should take Willem Buiter seriously.
On his Maverecon blog he also describes himself as “citizen of the world and member of the human race.”