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That's true. It was only after the U.S. pressured the Swiss banking industry that they agreed to report on U.S. owned Swiss accounts. We should go to a cashless society so everyone would have to pay their fair share. No more cash underground economy! Costs would go down for honest folks and...

Indeed. That's a very disquieting thought.

Where have you been? The Swiss agreed to Report to IRS on U.S. citizens with Swiss accounts years ago. Your friends are criminals and got caught. They are supposed to report their foreign accounts on their tax returns. Maybe they will next time.

Gold is priced in dollars, in case you hadn't noticed. Normally inflation goes hand in hand with a weakening dollar (dollar down, prices up.) This inflation, however, is being caused by externalities (war and supply line issues). The U.S. dollar is seen as a safe haven. There is BIG war on...

No big deal, just an indication that the fed's plan to induce a recession is working. Recessions are not good for banks. Who knew. :D

Apparently Putin is losing his mind. He invaded Ukraine and murdered, raped and bombed Ukrainians, caused a worldwide food crisis and millions to be displaced from their homes, and he expects the world outside of Russia to be nice to him??? This is the raving of a mad man.

You've been given a lot of good suggestions. Once you have read one of the basic texts (Mankiw is good as any) you'll be ready to read Soros, who is someone who's knowledge of macro economics, banking and finance has informed his investing. Possibly the "Alchemie of Finance" would be a good...

Certainly one factor is increased longevity due to fewer heavy smokers, better nutrition, better control of chronic disease -- diabetes, heart, asthma -- and increased survival rates for cancer. Putting entitlements on a sound footing would require increasing the payroll and self employment...

It's been done several times over. I don't know how many MMT economists there are in just the U.S. alone, I suppose it is a thousand or more. This is the branch of economics dealing with money theory and Treasury/fed/banking transactions. The best book in my opinion is "Understanding Modern...

Well that's kinda what we would do if we just wanted to replace old issues with new issues. But we wouldn't issue the new treasuries for the purpose of buying back the old ones. What we would "functionally" do is buy back all the Treasuries we wanted to buy using money all ready printed, spent...

The U.S. government, of which the fed is a part, could, if necessary, buy back all of the outstanding Treasuries in a short time. As a matter of fact, Japan bought back ~50% of their outstanding JGBs not long ago. There is an important difference between the yen and the dollar, however, and...

Well it's going full volcker because of inflation; not the debt that isn't. We shouldn't expect the fed Chair to know the USG has no debt, he's a lawyer. That debt thing is a secret between you and me.

particularly true if you forgo the cash and decide to take delivery in your front yard.

o_O Good lord, lets hope so.

People here were complaining about the fed blowing market bubbles, and keeping interest rates so low that mom and pop can't live off their savings. Now am I gonna start reading complaints that the fed is crashing the market and interest rates are too high? Based on what I read in ET forums...

Gold and silver can be used as a very inconvenient form of money, but as a sovereign currency fiat isn't just better, it's much better.

Since they are a part of the government, I guess that would have to be true, just like the Forrest Service is "an enabler off the excesses of the government". This is just a guess on my part, but when they are not busy enabling excesses they are probably on coffee break, right?

And don't forget puffy faced and falling off their bicycles. :D

thanks.

I have not been enthusiastic about Powell's leadership. Although he is only one voice among the Governors and crucial FOMC, he is the Chair. But you are here referring to precisely what I was referring to when I called a full fledged fed response to Covid in March 2020 an un-needed double...