How to grow your wealth during the coming collapse?

INDEX 283

Klein, Naomi, on the shock doctrine, 5
Krugman, Paul, on the safety of mon-
etary ease, 52
Kuhn, Thomas, on paradigm shifts, 185
Kuroda, Haruhiko, monetary ease con-
ducted for BOJ by, 137–38

L

Lagarde, Christine, 139
warning of deflation issued by, 28
lags
in development of financial crises,
172–73, 200
inflation progressing through, 45
land, preserving wealth through owner-
ship of, 3
layering, disguising true ownership of
assets through, 31
leveraging, 37, 61. See also borrowing
money
liberty, order restored at expense of,
6, 7
linear programming problem, Saudi
Arabia’s, 88
Long Term Capital Management
(LTCM), 166
collapse of, 37, 167–69
policy response to collapse of, 77
role of author in, during 1998 crisis,
83–84, 166–67
security swaps engaged in by, 175–76

M

macroeconomic data, 199
weak, 114, 116
Maginot Line, as example of the “fight-
ing the last war” mentality, 83
marginal propensity to consume (MPC)
definition of, 44
Fed policy based on theory of the,)
44, 64–66
market closures, dystopian prospect)
of, 2, 4
market collapse, 36–38
policy responses to, 37–38

maturity mismatches, in the carry

trade, 111

Merton, Robert K., self-negating proph-

ecy concept developed by, xii

mirror imaging, faulty analysis of

Russia because of, 134–35, 253

Mishkin, Frederic, on fiscal dominance,

238–39

monetary ease

effect of, on the gold price, 145

by Federal Reserve since 2009, 27

followed with a lag by inflation,

143–44

as inherently inflationary, 27

as necessary but insufficient compo-

nent of inflation, 51–54

as stopgap for deficit spending, 55

monetary policy. See also interest-rate

policy; monetary ease

in the 1960s and 1970s, 143–44

aims of, 68–70

the BOJ’s, 137–39

in China, 75

cyclical nature of, 34

expected tightening of, by the Fed, 102

implications of oil bust for, 97

wide assortment of recent types of,

70, 108

monetary/cyclical problems, structural

problems distinguished from, 16, 34

money. See also digital money; helicop-

ter money

nature of, transformed in dystopian

future, 5

wealth vs., 267

Money and Tough Love–On Tour with

the IMF (Ahamed), 235–36

accessibility of, 236

money illusion, 41–46

definition of, 41

example of, 41, 43

stages of, 45–46

Money Illusion, The (Fisher), 42

money market funds

FCC rule allowing lock down of, 19

as investors in potentially illiquid