Central Banks

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Gold Could Offer a Way out of Switzerland's Failing Inflationist Experiment

Central BanksWorld HistoryMoney and Banking

Blog02/06/2021

The Swiss state should end antigold regulations, end negative interest rates, and return to zero rates on bank reserves. These are small steps on their own, perhaps, but would be progress away from the brewing mess that is the eurozone.

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Monetary Inflation and Price Inflation

Central BanksInflation

Blog02/03/2021

Although it is important to recognize that massive price inflation is always the result of massive monetary inflation, there isn’t a stable relationship between the two.

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The ECB Is Playing a Dangerous Game with "Collective Action Clauses" on Bonds

Central BanksFinancial MarketsGlobal Economy

Blog01/29/2021

The ECB is now turning to a new mechanism by which a bond’s value can be legally reduced by the issuer in times of hardship. The purpose is to allow central banks and governments new ways of ripping off the private sector. 

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The Dollar's Reserve Currency Status Won't Last Forever

Central BanksGold StandardMoney and Banking

Blog01/28/2021

Americans have benefited mightily by holding and trading with the world’s reserve currency, though most people haven’t given it a thought. No one remembers when the pound sterling held this distinction a hundred years ago. 

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Privacy, Power, Fiscal Policy, the Poor: Four Reasons to Worry about CBDCs

Central BanksMoney and Banks

Blog12/02/2020

Central bank digital currencies need to be centralized and manipulable to some extent in order to use them to implement monetary policy, which is central bankers' goal. This characteristic makes them a very risky proposition.

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Why Sound Money Is "Green" and Central Banks Aren't

Central BanksThe Environment

Although many central bankers have claimed the central banks are instrumental in ushering in a more green economy, a closer look suggests the opposite is true.

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Central Banks and the Problem with Playing God

Central BanksMoney and Banks

Blog10/16/2020

It seems the reach and influence of central banks has never been higher, yet they are increasingly flying blind in an environment where central bank tools are growing ever more imprecise and dangerous.

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Central Banks Double Down on the Failed Policies of the Twentieth Century

Central BanksThe FedMoney and Banking

Blog10/01/2020

Today’s macroeconomic beliefs defy all the historical evidence with their focus on increasing the economic presence of the state at the expense of the productive private sector.

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The Debt-Inflation Spiral Is Driving up the Demand for Gold

Central BanksFinancial MarketsMoney and Banking

Blog08/15/2020

It is often claimed that inflation reduces the true burden of debt. This is true for existing debt, but those who advocate it as a remedy for government indebtedness fail to understand that it also increases the cost of the government’s future debt.

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