Sunday, 29 March 2015

Articles & Op-Eds

Op-ed: Losing patience with the Fed

March 19, 2015

It comes perhaps as no surprise that yesterday’s meeting of the ten voting members of the Federal Open Market Committee (FOMC) ended in an anti-climactic manner, providing no real clarity about the future of interest rates at the Federal Reserve. The removal of the word “patient” simply means that the Fed “has the option to […]

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Op-ed: Greek solvency requires political reform, support from populace

March 2, 2015

A hard currency backed by specie like gold or silver imposes sound economic policies on the nations that use them, but currency established by central bank fiat requires sound policies to be established by political mechanisms in concert with the support of the electorate. In the case of the stagnation in Greece, the European Union […]

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Op-ed: Dark dollar dealings

February 24, 2015

With the conviction of Ross William Ulbricbht, founder of Silk Road, many proponents of bitcoin and other crypto-currencies fear that the government “might bolster efforts to regulate — and perhaps even ban the emerging cryptocurrency.” In an Op-Ed published by US News and World Report, William J. Luther of the Sound Money Project says that’s not how […]

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Op-ed: The perils of monetary activism

January 7, 2015

Investors are seemingly bemused as stock markets continue to underperform in the New Year after “racking up double-digit returns for 2014.” But if the last few years have taught us anything, it’s that positive growth and optimistic forecasting doesn’t necessarily mean that all is well with the economy. As Dr. Judy Shelton points out in her new […]

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“Bank capital punishment and other nostrums”

December 31, 2014

Across the globe, governments and their central banks have embarked on a witch hunt against bankers, imposing new capital requirements, regulations and even launching investigations against them. While policy makers need scapegoats to blame for the financial crisis of 2009, targeting bankers creates a problem as it “constrains the growth of money broadly defined.” This […]

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Op-ed: The Yellen tug of war

December 16, 2014

This week, Ralph Benko published a piece in Forbes that outlined what I would consider two fundamental problems with Janet Yellen’s Federal Reserve: its willingness to experiment and its growing politicization. As Benko states in the opening of his piece, economic mobility depends on when and how quickly the Fed decides to tighten or raise […]

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