Money and BanksWar and Foreign PolicyGold StandardMoney and Banking
The dollar's last tie to gold was severed 45 years ago. Gold had always been an inconvenience for governments looking for more debt and spending.
Money and BanksMoney and Banking
Starting today, the Royal Bank of Scotland will become the first bank in the U.K. to impose a negative interest rate on depositors.
The EnvironmentTaxes and Spending
Calling an arbitrary government-imposed penalty on carbon a "market cost" is a disingenuous as not calling such a plan a "tax."
The problem with the Excel spreadsheet approach is not the intentions of policymakers, but that such tools cannot possibly replace the market process.
StrategyInterventionismOther Schools of Thought
In free-market circles, most government intervention is dismissed as "socialist," with the result that the term has lost its true meaning.
Booms and BustsMoney and BanksMoney and Banking
With central banks falling into step in a seemingly inexorable race toward negative interest rates, this could point to bigger problems on the horizon.