Currency
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CBDC Ban Does Little to Bolster Financial Privacy
“The battle for safeguarding individual rights over financial information and freedom from undue government control must encompass all forms of financial transactions, whether digital or physical.” ~Nicolás Cachanosky
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Dollar Dominance, Dollar Dependence
“Skeptics to the global monetary hegemon have long called for its demise — on causes of design or ideology, theory or empirics. And for decades, they have been proven wrong.” ~Joakim Book
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Can BRICS Displace the Dollar?
“The noise from BRICS about creating their own reserve currency and abandoning the dollar is little more than noise. As irresponsible as the Fed has been, BRICS policymakers apparently want to inflate faster than even the Fed will allow.” ~Robert F. Mulligan
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On Monetary Premia
“One day we might look back at our cottage industry of diversified funds, tax-favored retirement accounts, capital gains taxes, clever accountants, hedge fund managers, Fed watchers, and army of central bank economists as positively medieval.” ~Joakim Book
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The Economic Organization of a Military Training Scenario
“Nobody ever planned MRE cheese spread as the preferred medium of exchange between military service members. Cheese spontaneously emerged, again and again, in a process of competition between goods.” ~Emile Phaneuf III
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How Crazy Do You Have to Be to Support Dollarization?
“The whole reason why it is an advantage for a developing country to tie to a major country is that historically speaking the internal policies of developing countries have been very bad. US policy has been bad, but their policies have been far worse.” ~Nicolás Cachanosky
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Is Dollarization a Mirage?
“Dollarization would serve as a firewall, protecting the private sector from the fiscal policy fallout.” ~Nicolas Cachanosky
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Dollarization and the Lender of Last Resort
“Typically, there is little risk of losing a lender of last resort in countries with troubled currencies that are considering dollarization because such countries don’t have a lender of last resort to lose.” ~ Nicolas Cachanosky
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Entrepreneurs Thrived During America’s Free Banking Era
“Entrepreneurs thrived during the era of free banking in the United States, even with restrictive banking laws, which handicapped private banks from being more efficient.” ~ Michael N. Peterson
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The Rise of BRICS-11
“The explicit BRICS goals, which include expanding the reach of the New Development Bank, closer trade cooperation, and a dollar-alternative currency are undoubtedly viewed as a means to alleviate the perennial woes of economic mismanagement. And, of course, to slip Western spheres of influence.” ~ Peter C. Earle
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Only a Retail Gold Standard Could Dethrone the Dollar
“If a large subset of countries, like the BRICS, adopted the retail gold standard, the United States and the European Union would have to join, or watch demand for their fiat currencies decline.” ~ Robert E. Wright and Byron B. Carson III
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A World Dedollarized is Gold Remonetized
“What matters is having a ready means of transacting outside dollar-based systems and institutions in exigent circumstances: to maintain continuity of trade, and to hedge against the policy errors of central bankers.” ~ Peter C. Earle
