Central Banking
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The Success of Climate Mainstreaming
“Mainstreaming any important topic means to single-mindedly put everyone’s efforts in one basket and ignore all other important issues. That was my mistake ten years ago: not seeing the bigger picture. Now the world has caught up, keen on making that same mistake, central banks more so than most. Don Quixote de la Mancha sends…
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To Lean, Clean, or Reign Supreme
“After a decade or more of economic and financial events that put central banks under heavy strain – financial collapse, a slow and timid recovery, the pandemic – strange things are again amiss in financial markets. Broda and Druckenmiller are right to say that ‘the Fed seems to be fighting the last battle.’ Ironically, so…
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War Of Words Over Inflation Stirs Questions for the Fed
“Does it make sense, for a nation founded on the notion of individual liberty, equality under the law, and personal property rights, to allow a government agency to manipulate the value of the currency used by its citizens? Would it be better to have a stable monetary foundation to facilitate free-market outcomes, rather than empower…
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GosFed Looming at the Fed?
“It’s easy to see why the comrades of Gosbank showed so little dissent. Say, or think, the wrong thing in the Soviet Union, and you risked a one-way ticket to Siberia. What in the world is GosFed’s excuse?” ~The New York Sun
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Is the US Economy a Virtual Reality?
“It’s impossible to know precisely what the future portends for all these unprecedented policy shocks over the last year, from money supply and spending bonanzas to lockdowns to sky-high debt accumulation. But because a thing called cause-and-effect still operates in this world – we do not live in virtual reality – it seems wise to…
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Make No Mistake: Programmable Digital Currencies Are Weaponizable Money
“Money, in its most basic form, is an irreplaceable facilitator of economic calculation and a social instrument making cooperation possible on a global scale. Policies of the sort which programmable digital currencies bring into the realm of possibility potentially turn those on their head, introducing new possibilities for intentional––and systematic––coercion.” ~ Peter C. Earle
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Dangerous Monetary Manipulations and Fiscal Follies
“What is clear is that the types of monetary, fiscal and regulatory policies being implemented and projected by the Biden Administration, the Democrat-controlled Congress and the Federal Reserve are all leading America down a dangerous and destabilizing road, any recovery from which will not be easy or cheap.” ~ Richard M. Ebeling
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The Back Door to Universal Basic Income
“Low and falling barriers for lockdowns, stay-at-home orders, and other government-mandated nonpharmaceutical interventions are acting as a back door for the silent implementation of UBI & MMT schemes.” ~ Peter C. Earle & Kristoffer J. M. Hansen
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In Finance, Slow is Good
“What the central bank RTGS/LSM two-step teaches us is that we need a good balance between fast and slow. Sure, real-time settlement is a nice feature. But let’s also have delayed settlement. If brokerages have a choice to use some combination of two-day and real-time settlement, we may arrive at a socially optimal stock settlement…
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Escape Hatches: Migration, Bitcoin, and the Ability to Get Out
“Keep more mobile assets; have larger buffers, financial and physical; instead of a large house in a nice suburb, perhaps aim for a smaller home coupled with a condo or house in a different jurisdiction? Don’t put all your financial eggs in one portfolio – keep some gold and some bitcoin; keep healthy; update your…
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•
The Success of Climate Mainstreaming
“Mainstreaming any important topic means to single-mindedly put everyone’s efforts in one basket and ignore all other important issues. That was my mistake ten years ago: not seeing the bigger picture. Now the world has caught up, keen on making that same mistake, central banks more so than most. Don Quixote de la Mancha sends…
-
•
To Lean, Clean, or Reign Supreme
“After a decade or more of economic and financial events that put central banks under heavy strain – financial collapse, a slow and timid recovery, the pandemic – strange things are again amiss in financial markets. Broda and Druckenmiller are right to say that ‘the Fed seems to be fighting the last battle.’ Ironically, so…
-
•
War Of Words Over Inflation Stirs Questions for the Fed
“Does it make sense, for a nation founded on the notion of individual liberty, equality under the law, and personal property rights, to allow a government agency to manipulate the value of the currency used by its citizens? Would it be better to have a stable monetary foundation to facilitate free-market outcomes, rather than empower…
-
•
GosFed Looming at the Fed?
“It’s easy to see why the comrades of Gosbank showed so little dissent. Say, or think, the wrong thing in the Soviet Union, and you risked a one-way ticket to Siberia. What in the world is GosFed’s excuse?” ~The New York Sun
-
•
Is the US Economy a Virtual Reality?
“It’s impossible to know precisely what the future portends for all these unprecedented policy shocks over the last year, from money supply and spending bonanzas to lockdowns to sky-high debt accumulation. But because a thing called cause-and-effect still operates in this world – we do not live in virtual reality – it seems wise to…
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•
Make No Mistake: Programmable Digital Currencies Are Weaponizable Money
“Money, in its most basic form, is an irreplaceable facilitator of economic calculation and a social instrument making cooperation possible on a global scale. Policies of the sort which programmable digital currencies bring into the realm of possibility potentially turn those on their head, introducing new possibilities for intentional––and systematic––coercion.” ~ Peter C. Earle
-
•
Dangerous Monetary Manipulations and Fiscal Follies
“What is clear is that the types of monetary, fiscal and regulatory policies being implemented and projected by the Biden Administration, the Democrat-controlled Congress and the Federal Reserve are all leading America down a dangerous and destabilizing road, any recovery from which will not be easy or cheap.” ~ Richard M. Ebeling
-
•
The Back Door to Universal Basic Income
“Low and falling barriers for lockdowns, stay-at-home orders, and other government-mandated nonpharmaceutical interventions are acting as a back door for the silent implementation of UBI & MMT schemes.” ~ Peter C. Earle & Kristoffer J. M. Hansen
-
•
In Finance, Slow is Good
“What the central bank RTGS/LSM two-step teaches us is that we need a good balance between fast and slow. Sure, real-time settlement is a nice feature. But let’s also have delayed settlement. If brokerages have a choice to use some combination of two-day and real-time settlement, we may arrive at a socially optimal stock settlement…
-
•
Escape Hatches: Migration, Bitcoin, and the Ability to Get Out
“Keep more mobile assets; have larger buffers, financial and physical; instead of a large house in a nice suburb, perhaps aim for a smaller home coupled with a condo or house in a different jurisdiction? Don’t put all your financial eggs in one portfolio – keep some gold and some bitcoin; keep healthy; update your…