Some economists believe that the balance of payments is what determines currency exchange rates. In fact, exchange rates are always about the purchasing power of some currencies relative to others.
Congressional Democrats are trying to intervene in a complex and varied market they know little about but that consumers navigate without need of help. This will not end well.
Some economists believe that the balance of payments is what determines currency exchange rates. In fact, exchange rates are always about the purchasing power of some currencies relative to others.
As the US banking system becomes increasingly unstable, the calls proliferate for even more government intervention into banking and finance. People forget that it was government intervention in the first place that caused these crises.
In a recent statement, the Federal Reserve declared that US banks are "sound and resilient," but a lot of markets, including real estate, testify to a very different situation.
Congresswomen Rashida Tlaib and Alexandria Ocasio-Cortez have introduced legislation to create government-owned banks, ostensibly to “increase accountability.” In truth, the banks would exist to fund progressive causes.
One doesn’t need to search modern economic literature to take on the MMT crowd. Just read Bastiat.
While the “Great Reset” involves an unholy alliance between governments and big businesses, implementing its policies is impossible without central banks suppressing interest rates. Now that rates are rising, people are finding firsthand the real costs of the “Great Reset.”
While the ruling classes insist that money is whatever the government says it is, historically money has been gold. That has not changed even in the age of debased currency.
