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Global EconomyMoney and BanksMoney and Banking
Politicians, who claim that a week in politics is the long term, fail to see any problem.
Money and Banks
A return to a system of 100% bank reserves is anything but radical. It would be quite conservative, prudent, and sensible.
Money and BanksMoney and Banking
Central bankers are claiming that a global savings glut is driving down the "natural" interest rate to negative levels. They're wrong.
Money and BanksInterventionismPrivate Property
As Zimbabwe's economy worsens, its government now insists residents start using easily-inflated local currency again. This is sowing the seed of another devastating episode of hyperinflation.
MMT “is a mix of old and new, the old is correct and well understood, while the new is substantially wrong.”
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.
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.
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.