One of the oddities of floating exchange rates is that they cause people to view the world in terms of their own national currency. For
Among the many things that mystify economists these days, the biggest might be the lingering perception, despite six years of ostensible recovery, that the average
As negative interest rates spread from Switzerland, Japan and Germany to the rest of the developed world, people with money to invest face some life-defining
Another day, another “unexpectedly” bad economic report. Lately it seems like a lot of what US government statisticians say comes as an unpleasant surprise for
The point of competitive devaluation, aka currency war, is that a cheaper currency gives a country several advantages over its trading partners, leading to better
The way markets usually work is that on any given day (or in any given year) some asset classes are up while others are down.
The premise of a currency war is that by devaluing its currency a country is able to sell things overseas more cheaply, which gooses its
The following is an edited excerpt from The Money Bubble: What To Do Before It Pops: During a 2011 congressional banking subcommittee hearing, Texas congressman
Australia just fired a serious shot in the currency war by cutting its overnight lending rate to a record-low 2.25%. With the aussie as a
Business Insider just posted a Deutsche Bank chart that illustrates the difference between life under the Classical Gold Standard and today’s “modern” forms of money.
The term gets tossed around a lot, but the meaning and consequences of a “currency war” aren’t intuitively clear to most people. Especially confusing is
Today the European Central Bank acknowledged that the currency it manages is being sucked into a deflationary vortex. It responded in the usual way with,
Switzerland, as everyone knows by now, has slipped out the back door of the drunken orgy that is the modern financial system. And the other
A few years ago (when the world was very different) veteran mining analyst Jay Taylor told me something that seemed counterintuitive: Deflation can actually be
In the sound-money community there is universal skepticism about the Fed’s plan to stop monetizing the world’s debt. Hardly anyone thinks they’ll go through with
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