How US States Could Pave the Way for Currency Competition
The fiat US dollar is being imperiled by reckless actions by monetary authorities.
The fiat US dollar is being imperiled by reckless actions by monetary authorities.
Several nations look to develop a gold-based currency to bypass the US dollar. The world shall see after the BRICS nations meet next month how successful they are.
US dollar hegemony spreads price inflation and other central banks are doing the same. If the dollar fails, it will be due to self-inflicted wounds. The only solution is good money.
Argentina is one of the world's poster children for hyperinflation. Unfortunately, monetary reforms aren't working because the authorities are not serious about having a sound currency.
The Federal Home Loan Bank (FHLB) is the latest "weapon" in the government's so-called arsenal to keep the banking system afloat. But the system needs much more than just "liquidity." It needs sound money and sound banking practices.
While the faux debt ceiling drama rages in Washington, DC, governments worldwide are defaulting on their debt via inflation.
The fiat US dollar, while still the world's "reserve" currency, is being imperiled by reckless actions by monetary authorities. Other countries are taking notice—and action.
The Keynesian prescription for an economic downturn is for government to increase spending to improve so-called aggregate demand. In reality, this is a recipe for worsening the recession.
The latest rage in macroceonomics is modern monetary theory, whose adherents invariably resort to the motte-and-bailey fallacy. Advocating inflation is never a good idea.
As Washington cheers the so-called budget deal, the real problems loom. Liquidity issues are next.