The IMF announced that the GDP of China has now exceeded the GDP of the USA. In this interview I explain some of the “back story” on this topic and also alert listeners of the implications of the current world currency war and looming economic crisis.

The United Kingdom has announced that it will be the first government outside of China to issue bonds denominated in the Chinese currency, the Renminbi. Forbes reports that the bond sale will be tiny. For the UK it represents another attempt to become the eminent world financial center. For the US it represent another small blow to the status of the Dollar and US financial markets.

With all the lunacy coming from the world’s central bankers since, well, ever, it’s refreshing to hear something (anything!) sensible coming from one of them finally. Bank of Canada Governor Stephen Poloz’s recent announcement that the BoC would stop using forward guidance included all sorts of encouraging tidbits.

Shawn Ritenour writes in The Patriot-News of Harrisburg, Pennsylvania:

Recently the classical liberal legal scholar Richard Epstein criticized “hard-core libertarians.” These extremists want to keep out of “foreign entanglements.” If, as the extremists propose, we act only when there is a direct threat to the United States, “it may be too late.” We should strike immediately against the “forces of death and destruction” such as ISIS. We must spread liberty throughout the world in general, and the Middle East in particular.