Shipwrecked by Rents
The costs of imperial rent-seeking.
Read more...Category Archives: Currencies
The IRS Moves to Crack Down on Cryptocurrency Tax Evaders
The IRS is officially in “No more Mr. Nice Guy” mode with respect to cryptocurrency enforcement.
Read more...Ilargi: What? Default? Where? Dollar?
Why the dollar is not losing its privileged status any time soon.
Read more...Heiner Flassbeck: The Euro Arrangement Is Faulty
Heiner Flassbeck shows it defies macroeconomic logic to promote surpluses for Germany, prohibit government deficits everywhere else and forbid the central bank from acting as the central bank of each Euro member.
Read more...How Germany’s Courts Might Destroy the Eurozone
Without an agreed set of rules, the eurozone cannot be sustained. Ironically, as the EU’s biggest creditor, Germany stands to lose the most from its court’s ruling.
Read more...The Eurozone in Crisis
The Eurozone, despite years of band-aids over gunshot wounds, has managed to soldier on. It may have finally met its match in the coronacrisis
Read more...Fed Drastically Slashed Helicopter Money for Wall Street. QE Down 86% From Peak Week in March
Keeping tabs on Fed munificence.
Read more...Last Chance to Save the Euro?
The actions taken so far to salvage the single-currency union expose its fatal flaws. The last bout of stress will be a test to destruction if fundamental changes aren’t made.
Read more...Foreign Exchange Swaps: Hidden Debt, Lurking Vulnerability
How hidden foreign exchange swaps contribute to financial fragility.
Read more...Coronavirus: Australia Faces Calamity
Identifying likely economic road kill from the coronavirus outbreak.
Read more...Michael Hudson on the History of Debt Cancellation, Austerity in Europe, January 2020
Michael Husdon reviews the key themes of his recent book, ……and Forgive Them Their Debts, and discusses German austerity.
Read more...Roiled Repo Markets: Looking for Answers in All the Wrong Places
If you are worried about repo, you are worried about the wrong thing. If anything, it’s a symptom of too much liquidity demand from the FX swaps market.
Read more...Facebook’s Libra Faceplant: Beware of CEO Bright Ideas
Libra is going nowhere fast.
Read more...Does France Have an “Exorbitant Privilege”?
Why exorbitant privilege may not necessarily result from having the reserve currency, but instead from the tax games multinationals play.
Read more...Libra Unraveling: Network of “Partners” Like Visa and Mastercard Refusing Even to Give Lip Service
Quelle surprise! Facebook’s touted Libra partners are getting cold feet.
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