Semi-fixed systems cannot withstand the assault of integrated capital markets: they are prone to self-fulfilling panics.
They are: keeping the dollar as good as gold and dealing with financial panics.
The Fed should only have two missions: keep the dollar strong and avert panics.
In any event, we know from history that periodic market panics and crashes are common occurrences.
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But like any other market, bitcoin markets are also subject to speculations and panics.
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"The most important thing is, he never panics, " said PSV football manager Stan Valckx.
But such explanation is wordplay rather than searching analysis as repeated financial panics and crashes regularly confirm.
For an economy vulnerable to financial panics, trade with China has been a boon.
When an entire system panics, he adds, only the government is powerful enough to prevent complete disaster.
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Dozens of Democratic lawmakers are reportedly now veering into full-blown panics about their prospects in those elections.
Best advice to investors: Be an opportunistic buyer when the market panics and stock prices precipitously plunge, again.
Mr Eichengreen also argues that standards for debt restructuring could lessen the impact of panics when they do occur.
Surely there are rational investors who can profit from market booms and panics?
Financial panics destroy consumer spending by eating into everyone's net worth, evenly split today between homes and financial assets.
After all, Hank Paulson has averted two financial panics, but even the U.S. Treasury has its limits of succor.
That made them more vulnerable to panics which, like bank runs, are self-fulfilling.
He handles each mock-up with extreme care, and panics after accidentally dropping one of the models to the floor.
Bank panics are inherently deflationary, so the Fed rate cut was needed.
This induced artificial variability in the real price of gold, especially during the periodic financial panics that attend fractional reserve banking.
Previous terms for these episodes were bank failures, financial panics, runs on currency, debt crises, liquidity runs, national defaults, bubbles, hyperinflation.
On the economic front, the early 1990s brought hyperinflation and food panics.
When credit is quickly withdrawn, everyone in the business of lending panics.
That calm will sit well with the Bundesbank's view that panics blow themselves out, and that what matters most is long-term stability.
In the early '60s, when market panics were much easier to comprehend, my cubby-hole office sat next to house market technician Joe Granville.
For six decades, people have been wringing their hands with worry, echoing panics about the corrupting influence of comic books and rock music.
It has always been prone to panics, crashes and bubbles (in Victorian times this newspaper was moaning about railway stocks, not house prices).
The story would be replayed during other panics, major or minor, such as the 1973 oil crisis and Sino-British negotiation jitters in the 1980s.
Through all of the panics and wars and industrialization and social changes, the economy grew in real terms an average of 3.9% a year.
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Nemesis and The Passage are the latest examples of artistic expressions, literary and otherwise, that in some way reflect, reimagine or comment on viral panics.
Anybody who criticizes the current system therefore is a know-nothing who wants to create some sort of libertarian dystopia featuring banking panics and economic chaos.
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