Kuwait is a wealthy country per capita with a strong currency and good living standards. But if one ran afoul of the Kuwaiti government and was consequently sanctioned, would a lack of access to the Kuwaiti banking system, Kuwaiti currency, Kuwaiti products and Kuwaiti services really make a substantial difference to the average person’s life…
The Federal Reserve’s doors have been open for “business” for one hundred years. In explaining the creation of this money-making machine (pun intended — the Fed remits nearly $100 bn. in profits each year to Congress) most people fall into one of two camps. Those inclined to view the Fed as a helpful institution, fostering…
Over the last years, Venezuela has become a modern poster child for the failure of socialism and with good reason. It offers an abundance of lessons and stern warnings for many western nations, but it also provides a very insightful and relevant reminder for individual investors too. Economic, social and human costs Within the space…
The Iranian rial: crash. The Turkish lira: crash. The Argentine peso: crash. The Brazilian real: crash. There are multiple, complex, parallel vectors at play in this wilderness of crashing currencies. Turkey’s case is heavily influenced by the bubble of easy credit created by European banks. Argentina’s problem is mostly to do with the neoliberal austerity…
Americans no longer carry gold and silver money in our pockets and purses as our grandparents did. But we still carry the history, legacy, and spirit of those gold and silver coins in our language. “Sound money” embodies a clear message recognized for centuries around the world. It describes the musical, metallic ring of a…
After decades of stagnant growth, President Recep Tayyip Erdogan’s ruling AKP party turned around Turkey’s economy in the early 2000s. It was a boom underscored by easy borrowing that prioritised loans to the construction sector over capital intensive areas like manufacturing and IT development. ‘The administration knew that a slowdown was on the cards, and[that’s]why…
