Cadmus in Search Of Europa: Could the Greek Economy Recover like that of Latvia?
The headlines of this past weekend edition of the European edition of the Wall Street Journal read: “Debt Targets for Greece Questioned”. In the article Klaus Regling, the managing director of the European Stability Mechanism states that the targets for Greek debt...Crescit Eundo: Collateral and the Deterministic Path of a Logical Irrationality
It seems that the Latin phrase Crescit Eundo (it grows as it goes) fits well into the Fed’s modus operandi. In its latest attempt to justify the non-tapering, the Fed told us that fears of slowing growth, interest rate rising, and Washington infighting about the...On the Art of Central Banking: The Challenges Ahead
Our Federal Reserve Bank, the ECB, and other central banks of developed nations face a paradox: the same institution that is supposed to hold the ultimate reserves of the commercial banks has a duty of lending those reserves to the banks that are in trouble and which...On the Road to Damascus: Machiavellian Anatomy and Market Romanticism
One of my favorite songwriters (Rich Mullins) – who died prematurely sixteen years ago – wrote the song “On the road to Damascus”. Let’s recall some of those lyrics: On the road to Damascus I was hung in the ropes of success When you stripped away the mask...World Island Meets World Currencies: Planting the Seeds of Turbulence
In 1904 Sir Halford Mackinder published his famous paper The Geographical Pivot of History. The paper served as the cornerstone for the study of geopolitics in the 20th century. Sir Mackinder claimed in that paper that the age of sea power (initiated by Alfred Mahan’s...Sign Up for Our Publications
