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Money and Banks
Some people — including Donald Trump — think the dollar is too strong, and many propose the creation of a new version of the Plaza Accord, i.e., a multilateral agreement that includes coordinated intervention in foreign exchange markets.
Money and BanksMoney and Banking
Without a turn toward hard money, the odds are that the world’s dependence on the Greenback will not decline but presumably grow even more in the years to come.
The FedFinancial MarketsMoney and Banks
Central banks pretend all these benefits come at no cost to anyone. Unfortunately, we all ultimately pay the price.
Global EconomyMoney and BanksMoney and Banking
The depreciation of the yuan since 2014 is more of a response to market movements than a planned devaluation to gain competitiveness illegitimately.
In a true market — i.e., without a central bank — banks are intermediaries of real savings in their lending activities, thus promoting genuine and real economic growth.
The FedMoney and BanksMoney and Banking
The movement for alternative money is the result of the history of government monetary mismanagement.
Not only does fractional-reserve banking gives rise to monetary inflation it is also responsible for monetary deflation. Money created out of "thin air" can disappear as rapidly as it was created.
To cause a truly disastrous boom and bust with far-fetching real consequences, you need to control the money supply.
James Grant's new book Bagehot: The Life and Times of the Greatest Victorian, reveals there we can still learn a lot from the world that existed before our modern era of central banking.
The FedMoney and BanksCapital and Interest Theory
Central banks’ economic models predict deeper negative rates are necessary in the event that a significant recession materializes. This would be a disaster.