Category Archives: Currencies

Is This Time Different? Examining Recent Emerging-Market Turbulence

Some emerging-market economies look wobbly. How likely are we to see more crises?

J.D. Alt: Treasury Bonds Are Future Dollars

Clearing up fundamental misconceptions about US Treasury bond issuance.

Cryptocurrencies: Financial (In)stability and (Un)fairness

If private cryptocurrencies were to find widespread economic use, either coexisting with or fully displacing fiat money, the result would be increased financial instability, inequality, and social instability.

Yanis Varoufakis: How the Italian Budget Fight Helps Brussels and Salvini, Hurts Europeans and the Eurozone

Contrary to popular perception, Brussels and the Italian government come out ahead from sparring over Italy’s budget, and what works for them does not work for much of anyone else.

The International Use of the Euro: What Can We Learn From Past Examples of Currency Internationalisation?

European leaders have regularly expressed a desire for a European currency to serve as a reserve currency. The history of the transition from sterling to dollar and Europe’s aspirations sheds light on whether the Euro can assume this role.

The Continuing Dominance of the Dollar

The dollar still rules. What could make that change?

Something Russia and EU Appear to Agree on – the Euro

The very rational case for Russia and the EU to trade oil in euros.

Does the U.S. Have the Ingredients to Win a Trade War?

In winning the trade battle with China, Trump may lose the war against inflation.

The Spider’s Web: Britain’s Second Empire

How Britain’s system of offshore finance and tax havens developed and preserved the UK’s role as the largest player in international finance.

Causes of Turkey’s Crisis

Turkey is entering a major crisis, which many of the media have been quick to blame on Erdogan’s nationalist inclinations. However, the crisis has much more to do with poor economic fundamentals and the lending decisions of European banks.

The “Petrodollar” Has No Bearing on Any Country’s Ability to Employ Its People Fully

Debunking the petrodollar myth.

Could Turkey Trigger the Next Global Financial Crisis?

Why the currency crisis in Turkey is a due in part to the failure to take adequate corrective measures after the global financial crisis.

What Should the EU Do About the Turkish Currency Crisis?

The Turkish lira has been under significant pressure in recent weeks. What is the EU’s exposure to possible crisis in Turkey and how should the EU react?

The Mechanics of Cryptocurrency

An examination of cryptocurrency practicalities.

The CFA Franc Zones: Neocolonialism and Dependency

How France still exerts influence over the CFA franc zone.