In a recent article for The Telegraph, Ambrose Evans-Pritchard considers a recent IMF paper that, in his words, has “begun to acquire a cult following around the world.â€Â This working paper, written by Jaromir Benes and Michael Kumhof, applies an
There is a legal case against the Bank of Canada going on right now. It seems that “we” own the BoC and can have the government direct the Bank to loan money “interest free” to finance government’s activities. There are
Gold versus Paper Most people take it for granted that the world will never return to the gold standard. The gold standard, they say, is as obsolete as the horse and buggy. The system of government-issued fiat money provides the
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