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    Europe under pressure to print money

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    GoldMoney

    by GoldMoney

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    Watch the full 22-minute video at: http://www.goldmoney.com/juan-castaneda-macleod. Juan Castañeda, Senior Lecturer at UNED, talks to Alasdair Macleod, of the GoldMoney Foundation, about the pressures on European monetary authorities to print. They comment on the mistake of focusing on CPI in the pursuit of monetary stability, while ignoring asset prices or even expansion of the monetary aggregates, such as M3. They comment on how this was the same mistake made by Peel’s Act of 1844, which only looked at banknote money, while ignoring other forms of money, which is after all fungible.

    This interview was recorded on November 15th 2011 in Madrid.