Money Matters
Some comments from my Finance and Economics correspondent
I am on the road this week and next. This is going to be a short post.
A very good article was published recently by
The Art of Liberty Foundation - Important News
I asked my Finance and Economics correspondent to contribute a short opinion about the topic discussed in this article:
Most foreign central banks hold reserves of other currencies in case they need to defend their domestic currency. In other words, the Chinese would use dollars or pounds to purchase Yuan to defend the price of the Yuan. In a similar fashion, the Bank of England could not use pounds to purchase pounds. They had to use their foreign currency reserves to try to push up the price of the pound and then ran out of other currencies to defend the pound.
Discuss in comments.
Art for today: Irises, watercolor, 8x8 in.
The Most Dangerous Superstition by Larken Rose - exposes the myth for what it is, showing how nearly everyone, as a result of one particular unquestioned assumption, directly contributes to violence and oppression without even realizing it.
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