Mises Wire

The ECB Puts the Inflation Monster in the jar

The ECB Puts the Inflation Monster in the jar

This is an entertaining video put out by the European Central Bank. It discusses what inflation is and how it can be controlled. But it is entertaining on a number of levels, not the least of which is that it is shot through with subtle fallacies and self-serving avoidance of the topic of what it is, precisely, that creates new money. It also completely misconstrues interest rates, which are said here to be nothing but the price of money established by the central bank.

Still, the video is irresistable. Thanks to Seth Daniels for sending it in.

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