Home » Money » Currency Markets

Currency Markets

The Consumer Financial Protection Bureau is already hurting consumers – and taxpayers

CFPB

The Consumer Financial Protection Bureau is, like so many Obama-era government creations, inappropriately named, for it is doing little to protect consumers even as it fleeces taxpayers and their banking institutions Most Americans have never heard of it, but the Consumer Financial Protection Bureau is yet another federal agency that was born out of massive legislation, in this case the so-called “Dodd-Frank” financial reform measure of 2010 (neither of these characters, Chris Dodd or Barney Frank, are in Congress any longer, by the way). According to the its web site, the role of the CFPB “is to make markets for ...

Read More »
  • submit to reddit

Ebola will ravage world economies if it continues to spread

africa_economy

As the Ebola epidemic worsens, it will threaten local and regional economies that were already struggling to grow before the deadly virus struck If those economies falter, that will have an impact on global markets The longer the disease is allowed to spread, the greater the economic risks Without question the Ebola outbreak continues to dominate headlines, but most of the coverage has dealt with the health impact of the disease, concerns over how easily it can spread and, particularly in the U.S., where it might turn up next since the Obama administration refuses to close off air travel from the most stricken parts of West ...

Read More »
  • submit to reddit

3 Reasons to Invest in the Russian Stock Market Right Now

Russian Stock Market, ruble, crimea, international crisis, investing, should i invest in russia

Who’d have thought the Russian stock market would be the place to put some of your cash, especially now that Moscow just annexed part of another sovereign country and the threat of wider conflict between Russia and Ukraine may be looming? Because of the volatility of the situation, Russian investors have begun to flee their own stocks; to date, a falling ruble and other economic problems there have led to a 20 percent reduction in the Russian stock market. Which is precisely why now might be the time to get in, say U.S. investors. “[The] sell-off has taken the market ...

Read More »
  • submit to reddit

An Argument Against Free Trade

free trade, milton friedman, economics, adam smith wealth of nations,

By Vox Day I was raised on Milton Friedman as the mother’s milk of economics and I have been an ardent libertarian for many years. I believed that free trade was an unquestioned good thing, that protectionists were misguided at best and corrupt at worst, and that the French mercantilists-skewered so profoundly by Adam Smith in The Wealth of Nations- were the closest thing to pure evil prior to the publication of Karl Marx. How then is it possible that I have become an active opponent of free trade? Let’s be clear about one thing: When I am addressing the ...

Read More »
  • submit to reddit

No Gold in Them Thar Hills

chocolate gold

The Germans and most of the world no longer trust us. Rather, the Germans no longer trust the Federal Reserve, our political or economic elite and leaders — why should they? The United States has held the world’s reserve currency status since 1971 when Nixon took on the gold standard after Charles DeGaulle demanded that any transfer payments between the US and France be in gold. After that, the world accepted us as reserve currency, and the dollar became the gold standard. Along with London and the Swiss, the United States became a financial empire as well as a military ...

Read More »
  • submit to reddit

TWO COINS Can Fix the Debt Ceiling

Platinum Coins

by Jennifer Adams It’s one part Clinton era carelessness, one part French fiscal manipulation, and all kinds of crazy… so naturally policy makers are thinking it over. Welcome to the “Platinum Option,” America’s next great hope for getting past the fiscal cliff in one piece. Deceptively simple, the plan calls for the government to create $2 trillion out of thin air, deposit it at the Federal Reserve, give our current account balance a massive credit, and avoid the debt ceiling. Just. Like. That. Yet if it’s so simple, why isn’t it headline news? In a word, seigniorage. If you’ve never ...

Read More »
  • submit to reddit