How much longer will the dollar be the reserve currency?
byWe use the term “reserve currency” when referring to the common use of the dollar by other countries when settling their international trade accounts….
That US debt ceiling and the Fed
byWe are now into a second week of a partial Federal Government shut-down, which is causing considerable concern, centred on the Government’s ability to…
40 years later: Mises’s lasting legacy
byEach year in early October, the world looks to Sweden and Norway, where the annual Nobel Prize winners are announced in the fields of…
The four words that define western economic policy
by“The goods and services traded on the semi-secretive website Silk Road since February 2011 with the virtual currency Bitcoins were so varied that the…
The 80/20 rule
byRecent statistics are confirming “economic recovery” in the UK and even some of the weaker eurozone states. I put this in quotes, because what…
The unstoppable growth of US money supply
byAfter all the fuss about tapering, it is worth remembering that central banks can and do expand the money quantity without quantitative easing. Put…
Central bank balance sheets
byNow that there is growing evidence of GDP growth, we must consider a new topic: the likely effect on central bank balance sheets, using…
Taper (where?) party
by“This took guts.” – Comment by Steven Ricchiuto of Mizuho Securities in response to the Federal Reserve’s surprise decision to refrain from “tapering” its…
Monetary inflation prospects
byOn Wednesday last the Fed surprised most people by deciding not to taper. What is not generally appreciated is that once a central bank…
No tapering, no surprise
byIt was not too surprising that there is going to be no tapering for some very good reasons. The commencement of tapering would have…