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 includescoordinated intervention in foreign exchange markets.
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.
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.
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.
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.
Central banks’ economic models predict deeper negative rates are necessary in the event that a significant recession materializes. This would be a disaster.
