Burdened with $34.5 trillion in national debt that is currently growing by $1 trillion every 100 days, the U.S. economy is headed for disaster. It falls on the next administration to change that trajectory while also introducing policies that increase and broaden economic growth and wealth creation for everyone. Read More ›
It's far better for America’s citizenry and businesses to have the strength and resourcefulness that comes from free exchange of ideas and information, creativity, honesty, and self-reliance than to have a dependence on a profligate and corrupt government. Read More ›
Of the various “monetary aggregates” (at one point, I think over thirteen were identified), “M2” is perhaps the most commonly referenced. It is supposedly important. But why? To answer that, we have to first figure out what it is. Read More ›
President Joe Biden is poised to forgive $10,000 in student loan debt for borrowers who earn less than $150,000 per year, or $300,000 per couple, according to multiple news reports. Read More ›
The U.S. dollar is getting perilously close to losing its status as the world’s reserve currency, and there is less room than ever for error on the international stage. Read More ›
Recently, we took a look at the Central Bank of Turkey’s balance sheet, to get an idea of what has been going on, and what to do about the sudden decline in the foreign exchange value of the Turkish lira. Read More ›
Unfortunately, Turkey has a long history of currency failure, so it would be no surprise if the country were to stack up some new failures today. But, it doesn’t have to be that way. In the past, mostly before 1970, the Turkish lira had long stretches of reliability, and perhaps Turkey will aspire to greatness again. Read More ›
Dmitriy Balkovskiy, a Russian businessman, published my first book Gold: The Once and Future Money (2007) in the Russian language. This worked well: Not long after, Russia’s largest television station, Channel One, sent a video crew to my house in Upstate New York to interview me for a big documentary on the world monetary system. Read More ›
I was going to do something on the last years of Bretton Woods, involving William McChesney Martin at the Fed, and Presidents Johnson and Nixon. But, to do this properly would take some serious research, which I never got around to. (It would make a nice book.) So, today — the fiftieth anniversary of the official End of the Bretton Woods system on August 15, 1971 — we will instead take a step-by-step approach, piecing together little clues along the way. Read More ›