For those of you who can speak Spanish, the link is here . During the interview, JHS mentions a couple times that Spain is better off with the Euro than the Peseta. He’s coming from a different background than we are in the US, but here we get our hackles up when people talk about any sort of intern…

If a respected economist like him says something, it’s worth thinking about. They may have been better off not going in, but now they are there he may be right. What he is saying is that money printing is the worst evil, since turns all purchasing power to zero, and not having their own money stopp…

Amen. Sure, I understand, it just struck me as strange. I am so used to preferring government as local as possible - if it’s going to exist anyway - that his comment gave me a bit of whiplash. Do you think it’s true? Is Spain better off with the Euro than the Peseta?

Keep in mind that many of the former national central banks were much more inflationary than the ECB is today. Italians, for example, were used to paying with bills that featured a lot of zeros before the introduction of the euro. All in all, local government is much more preferable than a centrali…

I believe Huerta de Soto is well known for this controversial stance in libertarian circles, though Philipp Bagus’s new book about the Euro supposedly got him to change his position. I don’t know much about the Euro and nothing at all about Spain’s financial position, but I can understand why somet…

Of course Spain is better off with the Euro. They (along with Greece, Italy, and Portugal) are able to live their socialist lifestyles at other’s (Germany) expense. Who wouldn’t want this type of relationship? It’s similar to the United States having the world’s reserve currency. As Americans, this…

One of the main “weaknesses” from the mainstream point of view is that Spain cannot devalue its currency in the face of deflationary pressure. That is what Huerta de Soto is talking about. The problem is that instead Spain is hostage to the ECB’s monetary policy.

What a lot of (American) libertarians seem to forget is that the euro is actually relatively more independent compared to the dollar. Furthermore; the euro is also more independent than the previous national currencies. The Belgian frank - I’m Belgian - has a worse track record than the euro so far …

From what I can understand it seems Professor Huerta de Soto thinks Spanish bureaucrats and politicans are even less trustworthy when it comes to money than German and French ones, their only weapon being steady monetary inflation to make the country more palatable on the cheap (no need for complica…

Interesting opinion from Jesus Huerta de Soto

Economics Economics Questions

Smiling_Dave January 9, 2011, 9:45pm 4

I was shocked too.

As for is he right? How do I know? Im an amateur.

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Interesting opinion from Jesus Huerta de Soto

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