Is the US dollar losing the trust required of a global reserve currency? The dollar isn’t just America’s currency. It is the plumbing of global
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Trump and the Fed: an MMT perspective
As is clear from multiple media reports, the dispute between the Trump administration and the US Federal Reserve (which is the US equivalent of the
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Glossary entry: bond vigilantes
I have added this entry to this blog’s glossary at the request of some commentators. I stress that in an area as complex as this,
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Full reserve banking
I received this email this week: Dear Prof. Murphy, I have been watching a great number of your videos on YouTube to clear up my
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How to prepare for a crash
What can ordinary people do if the financial crash many economists fear is coming? In this video, I explain some practical, calm, and sensible steps
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Economic questions: the James Tobin question
This is one of a series of posts that will ask what the most pertinent question raised by a prominent influencer of political economy might have been,
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New glossary entry: Spahn taxation
Of all the concepts I noted in my post on making capital controls work this morning, the one likely to be most unfamiliar is Spahn
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Making capital controls work
A commentator called Milano asked yesterday: Given today’s highly interconnected plumbing (gilt repo, FX swaps, CCPs, non-bank leverage) and the fact that Thatcher’s government first
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Nine people need to go at the Bank of England
This piece in a Telegraph newsletter this morning is a classic: The Bank of England has warned its near 6,000-strong workforce of job cuts as it
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