Category Archives: Payment system

Some Basic Lessons for the Governor of the Bank of England, Who Seems to be in Dire Need of Them

The Governor of the Bank of England had a major “put foot in mouth and chew” episode.

The False Dawn of Ending Coronavirus Lockdowns

It would be nice if relaxing the lockdowns would solve a problem, any problem….

Max Blumenthal and Ben Norton With Michael Hudson: How The US Makes Countries Pay For Its Wars – Economics Of American Imperialism

Economist Michael Hudson explains how American imperialism has created a global free lunch, where the US makes foreign countries pay for its wars, and even their own occupation.

A Payments Holiday is More Realistic Than You Think

It may be simpler to enact a payments holiday than to try to get money to the hands of individuals who desperately need it.

New York Fed, FDIC Tout “Opacity in a Banking Crisis” to Keep Corporations, Hedge Funds, PE Firms & Counterparties in the Dark about Weak Banks

An article by Fed and FDIC researchers argues for hiding banks’ dirty laundry. Too bad the authorities didn’t make banks shape up instead.

The FT Says It’s Time for the Bank of England to Start Direct Funding of the Government: Modern Monetary Theory Has Won the Day

Modern Monetary Theory has a new convert. Too bad Americans are behind the curve.

India’s Poorest Now Have Access to Basic Bank Accounts, and Many Already Received their First Cash Stimulus Payment By Last Saturday; Meanwhile the IRS May Get You Your $1200 Check in Five Months

A tale of two stimuli: the Modi government has already made some direct deposits; some Americans will wait five months to receive checks.

Tax Justice and Modern Monetary Theory – A Guide

Does Modern Monetary Theory take tax justice for granted?

Another Great Depression or Tax Justice and Transparency? The Tax Justice Network January 2020 Podcast

TaxCast ranges well beyond tax today, with topics including IMF warnings, the Brexit rogue UK vision, and looting in Angola.

War on Cash: New York City Businesses Must Accept Cash, City Council Decides

New York City Council passes legislation requiring businesses to accept cash to take effect nine months after signing by mayor Bill DiBlasio.

Digital Money: Implications for Emerging Market and Developing Economies

A clinical look at digital money ideas for developing economies finds the benefits are narrower than boosters would have you believe.

BBVA Compass Fails to Dispute, Much the Less Remedy, Retaliatory Swatting, Disclosure of Confidential Information, and Reckless Treatment of Elderly Customer

BBVA has not denied that an officer swatted an elderly woman on fabricated grounds as retaliation for documenting his reckless advice.

Repo Madness: Fed Plumbing Gone Awry

How the Fed’s fingerprints are all over the repo mess.

Facebook’s Libra Faceplant: Beware of CEO Bright Ideas

Libra is going nowhere fast.

The People’s Money (Part 1)

An explanation of the Federal Reserve money system.