Interest Rates and the Marshmallow Test
People have a natural preference for having good things now instead of having them later. This is a problem for advocates of negative interest rates.
Money and Banking
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The Week in Review: October 15, 2016
We are less than a month away from the election and it can not be over soon enough.
Thanks to Central Banks, Saving Rates Are Declining Worldwide
Americans are saving very little money for emergencies. Unfortunately, central banks have been encouraging the same thing worldwide.
Will Eliminating Cash Save the Economy?
As another step toward greater use of negative interest rates, the abolition of cash will only lead to the destruction of wealth.
Japanese Consumers Not Afraid of Deflation
It turns out that the Japanese people do not have the Apoplithorismosphobia that their government officials have.
Auroville’s “Utopia”: A Town without Money or Politics?
The claims about a "moneyless" utopian village in India turn out to be false. No one with an understanding of economics should be surprised.
The Bank of England Abandons Cryptocurrencies — For Now
An adoption of digital currencies by central banks could bring the next generation of central bankers more power than their predecessors imagined.
Central Banks Sheepish as Savers Keep Saving
Frightened by an unstable economy and low returns, savers are saving even more and frustrating the plans of central bankers.
Uncle Sam May Tip Deutsche Bank Over the Edge
The US Dept. of Justice wants to extract billions in fines from Deutsche Bank. German taxpayers may then be on the hook for the inevitable bailout.
“Thar’s Gold in Them Mountains”
It is no secret that secret Swiss bank accounts are not so secret anymore, as political elites worldwide wage an all-out war against financial privacy.
