Currently, central banks around the world are walking in lock step down a dangerous path of money creation. Led by the Federal Reserve and the Bank of Japan, economic policy is driven by the idea that printed money can be the true basis of growth. The result is an unprecedented global orgy of currency creation. […]
Daniel Yergin, Pulitzer Prize-winning American author, energy scholar and economics researcher, wrote recently that the passing of Margaret Thatcher provides “a timely reason to ask: What was the Thatcher Revolution about?” Yergin explains that he tackled that same question 15 years ago and “decided the best way to answer it was by asking Thatcher herself.” […]
Remarks by members of the European Union’s elite suggesting that banking deposit seizures may become standard practice appear to have heightened the risk of a European bank run and perhaps even a catastrophic collapse of the euro. Any threat to the euro is a threat to the European public’s conception of the Union’s manifest destiny. […]
In Switzerland, it’s not just the clocks that are cuckoo. Over the past four years Swiss politicians and central bankers have gone on an unprecedented buying spree of foreign exchange reserves. In 2012, their cache swelled to as much as $420 billion worth of various currencies, primarily the euro. This figure is a seven-fold increase […]
Although it was barely noticed by the American press, on January 22nd, EU finance ministers approved a new “Financial Transactions Tax” (FTT) that has implications for market competitiveness around the world. The move was conceived as a Franco-German initiative and was supported by seven other EU nations, including the entire bloc of highly indebted southern tier […]
Over the past two months, Europe’s problems seem to have disappeared from the headlines. However, the new French Socialist government is pushing ahead with policies that favor significantly higher government spending, greater regulation of business and commerce, and severely higher taxes on high earners. The long term effects of these policies, which I believe will […]
Soeren Kern, writing for the Gatestone Institute in his November 16th article, “Islam Needs a Fair Chance in Germany,” reported a significant development in Germany that portends dire consequences for that benighted nation and for all of Europe: the city of Hamburg signed a “treaty” with organizations representing its Islamic population. The “treaty” features a […]
Poll after poll makes it perfectly clear that the German people have no interest in exposing their hard-earned savings to the ravages of unending bailouts and currency debasement.
The world economy today stands at the doorstep of great change. A gathering crisis looms in Europe, splitting the Continent into two competing blocs. While leaders there face off against one another in a high stakes game of chicken, the rest of the world powerlessly watches the train wreck slowly unfold. Political leaders on both […]
Many are saying that the United States should bail out European economies. The rationale is self-interest. “If European economies go under, then the U.S. will go with them.” If the U.S. was not making the same kind of mistakes that European economies have been making, this wouldn’t be true. The U.S. would not have a […]
One month ago it appeared that Germany held the whip hand in its titanic struggle against those seeking to cure all economic ills with the snake oil of currency debasement. Now, it appears that the ground beneath its feet is being swept away in a flood of popular unrest and political exploitation. The recent elections […]
France now has something in common with the United States: A Socialist President. Welcome to the club, France! Not that this represents a big change. The last president of France was nothing more than a corrupt guardian of that country’s massive entitlement and transfer-of-wealth state. Of course he was corrupt. A government based on such […]
Last week’s media headlines focused on how the election results in France and Greece reflected a wave of rising public resistance across Europe to the austerity programs being championed by Germany, the IMF, and the EU. Less notice has been given to Germany’s internal revolt against Chancellor Angela Merkel’s conservative policies at home and abroad. […]
According to the European Central Bank, the Italian banking industry now holds more government debt than the banks of any of the major European economies: nearly €324 billions worth of shaky bonds. The Spanish banking sector is also heavily overweight in government paper, at a new record high of €263 billion. This bond-buying spree was […]
Though there can be little doubt the euro would survive without the Greeks or the Spanish, there is greater doubt of the euro surviving without the Germans solidly behind it. As the world’s second largest reserve currency, the collapse of the euro would precipitate a major international monetary crisis.
Egalitarianism, moral relativism, and multiculturalism began as “good intentions” adopted by the champions and enforcers of the welfare state, which is a political system that relieves some men of their lives, liberty, and property to redistribute them to men who want no liberty but need property. Norway, Sweden and Denmark are welfare states that also wish to relieve men of their freedom of speech.