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Booms and BustsMoney and Banks
As money loses its purchasing power, income and wealth are stealthily redistributed. Some individuals and groups of people are enriched at the expense of others.
Big GovernmentStrategyPolitical Theory
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.
Only gradually, the damage becomes visible. Economic growth is dwindling; political conflicts over income distribution are increasing; the state becomes more and more powerful.
In adopting a noninterventionist foreign policy which is crucial to restoring constitutional government, it is impossible to be both a budget hawk and a war hawk.
The ECB isn't stopping with government bonds. It will end the current monetary experiment with widespread intervention in corporate debt and all aspects of the market, further destroying what freedom still exists in debt markets.
Tory MPs vying for the Prime Ministership mostly all vote alike on taxes and foreign policy. So only the issue of Brexit separates the bad from the very bad candidates.
Markets are already betting that the Fed will re-commit itself to more stimulus and more ultra-low rates. The markets are probably right.