In the War on Cash, a rare defense of physical money by an ECB Board Member.
“If authorities do not act preemptively, cryptocurrencies could become more interconnected with the main financial system and become a threat to financial stability.”
Nine years of scorched-earth monetary policies come home to roost.
“Near-zero risk” derivatives… the banks are on board.
Variable-rate mortgages, the HELOC phenomenon, and new stress tests meet higher rates.
A private club for central bankers, regulators, and bankers: Bernanke, NY Fed’s Dudley, Timothy Geithner, BoE’s Mark Carney, BoJ’s Haruhiko Kuroda… they’re all in it.
Right at the front of the monetary welfare queue is the government of Italy.
Stiffened capital controls help.
Bank of Mexico faces stagflation or worse.
First decline in its colossal balance sheet since 2012.