last42.txt - VOXEU piece on Bank of Japan equity purchases Posted on by Tony Yates Heres a piece Toby Nangle and I did on the BoJ purchases of equties

last42.txt - VOXEU piece on Bank of Japan equity purchases...

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VOXEU piece on Bank of Japan equity purchases Posted on October 12, 2017 by Tony Yates Here s a piece Toby Nangle and I did on the BoJ purchases of equties via ETFs. Posted in Uncategorized | Leave a comment The vicious circle impeding the entry of a new currency Posted on October 7, 2017 by Tony Yates Cryptocurrency prices have been soaring and tanking and soaring again. Here is a chart of the Bitcoin/ exchange rate:Screen Shot 2017-10-07 at 11.40.26 The following thought experiment shows how a new currency with a fixed supply protocol may find it hard to break through and gain wide usage. One of the conditions for widespread use as a money is that it s value is not too unstable. You can imagine a period of relative stability, or at least predictable growth, when users think this new currency could be the next medium of exchange . Demand rises in anticipation. Given the existing cryptocurrency protocols, with supply unresponsive to demand, this implies a rise in the price. Users observe
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