Recession, prices, and the crack-up boom
Initiated by monetarists, the debate between an outlook for inflation versus recession intensifies. We appear to be moving on from the stagflation story into…
Value destruction
In recent articles I have argued that the era of a financialised fiat dollar standard is ending. This article takes my hypothesis further and…
The evolution of credit
After fifty-one years from the end of the Bretton Woods Agreement, the system of fiat currencies appears to be moving towards a crisis point…
Difference between growth and progress
Governments and central banks are making the mistake of believing that growth in GDP is a primary measure of economic performance. This confuses growth,…
Why dollar CBDCs may never happen
The Fed has just released its first public consultation paper on a dollar-based central bank digital currency. For many, central bank digital currencies (CBDCs)…
The UK and its lost opportunities
Two years after leaving the EU Britain has made almost none of the promised progress towards economic liberalisation. While Brussels hasn’t been helpful, libertarian…
Why dollar CBDCs may never happen
The Fed has just released its first public consultation paper on a dollar-based central bank digital currency. For many, central bank digital currencies (CBDCs)…
Money supply and rising interest rates
The establishment, including the state, central banks and most investors are thoroughly Keynesian, the latter category having profited greatly in recent decades from their…
Interest rates, money supply, and GDP
That the world is on the edge of a monetary and economic cliff is becoming increasingly obvious. And becoming more obviously permanent than transient,…
The futility of central bank policy
It is only now becoming clear to the investing public that the purchasing power of their currencies is declining at an accelerating rate. There…