“Dollarization would serve as a firewall, protecting the private sector from the fiscal policy fallout.” ~Nicolas Cachanosky
READ MORE“Typically, there is little risk of losing a lender of last resort in countries with troubled currencies that are considering dollarization because such countries don’t have a lender of last resort to lose.” ~ Nicolas Cachanosky
READ MORE“Entrepreneurs thrived during the era of free banking in the United States, even with restrictive banking laws, which handicapped private banks from being more efficient.” ~ Michael N. Peterson
READ MORE“The explicit BRICS goals, which include expanding the reach of the New Development Bank, closer trade cooperation, and a dollar-alternative currency are undoubtedly viewed as a means to alleviate the perennial woes of economic mismanagement. And, of course, to slip Western spheres of influence.” ~ Peter C. Earle
READ MORE“If a large subset of countries, like the BRICS, adopted the retail gold standard, the United States and the European Union would have to join, or watch demand for their fiat currencies decline.” ~ Robert E. Wright and Byron B. Carson III
READ MORE“What matters is having a ready means of transacting outside dollar-based systems and institutions in exigent circumstances: to maintain continuity of trade, and to hedge against the policy errors of central bankers.” ~ Peter C. Earle
READ MORE“Even if you think that a CBDC is a good idea, consider that its power may be turned against you when the political pendulum shifts in your direction and your views or activities are suddenly considered taboo or illegal by those in power.” ~ Emile Phaneuf III
READ MORE“Provided the recent monthly inflation figures give us an accurate forecast, the real federal funds rate is significantly above the natural rate. This indicates monetary policy is restrictive.” ~ Alexander W. Salter
READ MORE“According to DeSantis, political elites want to ‘regulate [bitcoin] out of existence’ because it threatens their plans for social control. He’s right.” ~ Alexander W. Salter
READ MORE“The road to independence, the Imperial Crisis as some term it, began with resistance to the Stamp Act, which indeed was a type of tax but not, on its face, a particularly onerous one. So the key to understanding the independence movement is to understand why the colonists reacted to the Stamp Act as vigorously as they did.” ~ Robert E. Wright
READ MORE“By adopting a nominal spending target, the Fed would embrace a regime that provides clear guidance on the required spending level during times of crisis. This shift would enhance the Fed’s ability to navigate economic downturns effectively.” ~ Nicolás Cachanosky
READ MORE“GOP lawmakers absolutely should head CBDC efforts off at the pass, and the party’s presidential candidates should support that rejection.” ~ Alexander W. Salter
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