Regular readers know I take a dim view of cryptocurrencies. They are not all the same, so one has to consider the differences in algorithms, governance and ceilings on issuance before making determinations on specific cryptos. That said, cryptos are generally nonscalable, nonsustainable and badly flawed from a monetary perspective. The coding and math can
Most people who have heard of the huge gold depository buried under the Federal Reserve Bank of New York assume that’s where most of the U.S. gold hoard is stashed away. That’s not true. It is true there are 6,000 tons of gold at the New York Fed, but that gold does not belong to
The biggest news in cryptocurrencies lately has been the announcement by Facebook of a new cryptocurrency called libra. With billions of Facebook users worldwide and established communications channels, Fakebook’s libra seems well positioned to succeed where other cryptocurrencies have failed. Libra is envisioned as a “stable coin,” which means that the value of one libra
There are currently two vacancies on the powerful board of governors of the Federal Reserve System. Those vacancies have persisted since the Obama administration. Obama thought Hillary Clinton would win the election in 2016 and fill the seats with reliable global elitists. Instead, Trump won and had the vacancies handed to him on a silver
