Forty centuries of learning nothing
by“The co-authors began working on this book in 1974, just after the termination of President Nixon’s controls in the United States. Since that time,…
Economics
All currencies are an inverse pyramid based on the dollar
byWhen US money supply measured by M2 stood at $11 trillion in December 2013, I calculate that total broad money of the next largest…
Bitcoin – The Future Of Money?
byI have begun work on a new book. It is called Bitcoin – The Future Of Money? Once again I am funding it with Unbound. As the more…
Heaven is high and the emperor is far away
byImagine, if you will, a small, isolated hamlet where the daily round proceeds in harmony with the gentle rhythm of agriculture. Ground is tilled,…
Scotland’s currency options
byAn article for the Wall Street Journal … Last week the U.K.’s Conservative, Labour and Liberal Democrat parties got together to administer a Flodden-style…
2014: A year of investing dangerously
byFor those rich in assets, 2013 was a good year. Equity markets, especially in the US, rose substantially. Property markets continued their recovery. Even…
Animal spirits deflating
by“The Fed insists on saving us from ‘everyday low prices’ – they call it deflation. I submit that in a world of technological wonder,…
How time and uncertainty can make us “antifragile”
byNo two buzzwords define the present crisis more than “contagion” and “robustness” in the world of economists and policy wonks. The current interrelated nature…
Why some emerging markets are heading for a bust
byIn countries such as Turkey and Argentina a tighter stance implemented by central banks has set in motion an economic bust. In Turkey the…
Emerging markets, interest rates and tapering
byThanks to the Fed’s tapering, a wider public is becoming aware of currency instability in diverse economies, from Turkey to Argentina, and India to…