How the government monopoly on money imperils the global economy

Detlev Schlichter says that “Today’s mainstream view on money is logically incoherent because it is in fundamental conflict with essential aspects of money and money’s role in a market economy.” 

 

The death of money:

How are you going to protect yourself when the international monetary system collapses? In his new book “The Death of Money” James Rickards argues that it is a near certainty that the existing monetary system will collapse.

 

Dollars, Euros, and Debt:

Vito Tanzi has again given us a solid economic explanation of what went wrong and why, and what can be done about it. Governments have grown too large, have spent way too much money, and have tried to get out of the mess through the inappropriate use of monetary policy rather than by drastically cutting spending. 

 

The Monetary Conservative:

Inflation is the work of the devil, because it respects appearances without destroying anything but the realities.  Jacques Rueff

 

Treasury’s War:

Have you ever wondered how the United States and other countries actually conduct “financial warfare”?   

 

From Georgetown to George Town – by Bill Walker

William Stuart Walker was one of the pivotal figures in the creation of Cayman as an offshore financial center and its subsequent development. Among...

Adam Lebor’s “Tower of Basel”

When the Bank for International Settlements was established almost 80 years ago to administer Germany’s World War I reparation payments, making payments from one country to another was more difficult than now.  

 

Europe’s Unfinished Currency – by Thomas Mayer

In his “Europe’s Unfinished Currency”, Thomas Mayer gives us a highly readable account of the political origins of the European Union and its currency and its current weaknesses and promise. 

 

Ships of Oak, Guns of Iron:

In 1814, the US already had the highest per capita income and one of the largest territories of any country, a mid-sized population of eight million – significant for countries of the time; and it had taken on Great Britain, the military and economic superpower of the day, and fought it to a stalemate on the land and sea. 

 

Reading capital flows

The literature on capital flows is, unfortunately, not particularly gripping reading. It is not something to take to the beach without a strong sunscreen, for the danger of dozing off and burning to a crisp if the sun is high. Nonetheless, there are some useful works.

 

Reading Privacy

The top two authors on privacy issues, one focused on financial issues and one not, are Prof Rose-Marie Antoine of the University of the West Indies and Prof Daniel Solove of George Washington University.

 

The Money Trap:

Robert Pringle’s The Money Trap should be very high on the list of books for anyone wanting to understand the weaknesses and flaws in the existing approaches to national monetary and banking policies and the international arrangements that link them.   

 

Getting it Wrong – by William Barnett

In Getting it Wrong1 William Barnett, an aggregation and index number theorist, makes a few important points about monetary policy in the United States, along with a few questionable claims for how to fix it, and some fairly bazaar speculations about why his proposals have received so little traction. 

 

 

Trade Policy Disaster: Lessons from

At the beginning of the Great Depression, world trade dropped by an “astounding 65 per cent in gold-dollar terms”.  

 

Birth of a Market: The US Treasury Securities Market

Kenneth Garbade, a senior vice president at the Federal Reserve Bank of New York, has written extensively on the development of the market for US Treasury securities, including at least nine single- or co-authored articles (most of which appear in Economic Policy Review).   

 

Good fences? Cross-border bankruptcy law

“Annual income twenty pounds, annual expenditure nineteen pounds, nineteen and six, result happiness. Annual income twenty pounds, annual expenditure twenty pounds, nought and six, result misery.”

 

“When Money Dies: The Nightmare of Deficit Spending, Devaluation and

“The Treaty includes no provisions for the economic rehabilitation of Europe, – nothing to make the defeated Central Empire into good neighbours, nothing to stabilise the new States of Europe …  

 

Regulating Criminal Finance in the Global Economy

Sharman’s book is a most interesting contribution to the discourse on the current measures to control money laundering and, to a lesser extent, terrorist financing.

 

“Government versus Markets: The Changing Economic Role of the State”

by Vito Tanzi, Cambridge University PressRead our article in the Cayman Financial Review Magazine, eversion If one has an interest in political economy, yet only...

Reading Ireland

The Irish boom was real, up to a point, but the Irish crash is real too. Like her boom, Ireland’s subsequent problems have spawned a substantial literature – here we provide a guide to some of the more interesting.