He says: The EU cannot live together for too long with the risk of monetary breakdown, which also would bring with itself social and political breakdown.
ON Monday, your blogger took part in a BBC radio discussion involving Detlev Schlichter, the author of Paper Money Collapse: the Folly of Elastic Money and the Coming Monetary Breakdown.
Gallienus' double denarius of copper and silver, leached to give a more silver-rich surface, marked a monetary breakdown, only partially cured when Diocletian and Constantine again made gold the firm basis for supplementary pure silver and abundant copper coinage.
Detlev Schlichter's Paper Money Collapse: The Folly of Elastic Money and the Coming Monetary Breakdown (John Wiley, £26.99) outlines what is becoming the new orthodox remedy of the free-market right: a return to the gold standard, the end of "fiat money" and of fractional reserve banking.
Without reforms, it is not difficult to foresee the breakdown of monetary union.
The suit, which is seeking unspecified monetary damages, comes after the breakdown of several months of settlement talks between Kodak and the plaintiffs' lawyers.
Hetzel's takeaway from this is contentious — he argues, essentially, that tight monetary policy, and not the breakdown in the credit markets, was responsible for the steep economic decline we saw in the fall of 2008.
Perhaps if the debate on the decriminalization of drugs had been begun before adopting the present course regarding public security, the country would have saved countless lives, widespread social suffering, grave processes of institutional breakdown, and astronomical monetary resources.
The sector breakdown of the two monetary input-output tables contains 8 sectors onto which the sectors in our enterprise table can be mapped.
But in the recent release from its monetary council, the bank made clear its disappointment with the breakdown in talks with the I.M.F. and the European Union.
