

Pound Plunge: Don’t Blame Kwasi
There was no ‘crash’ of the pound. The big rate increase by the Federal Reserve simply created an irresistible opportunity for investors to make some good money, and do it safely.
There was no ‘crash’ of the pound. The big rate increase by the Federal Reserve simply created an irresistible opportunity for investors to make some good money, and do it safely.
Government officials have carefully ignored the need for more fiscal conservatism. Looking at the threat of a new debt crisis, investors and taxpayers alike expect nothing more spectacular from their current leaders than a new round of put-out-the-fire austerity packages.
There are more signs of a possible new debt crisis in Europe.
In its press release, the ECB reports that bank credit to euro-area residents grew at 5.9% in March.
While our current monetary system rests on national currencies and regulated banks, every new user of a cryptocurrency unlocks the potential of a system that cannot be overruled, made redundant, or inflated away. This is what scares monetary authorities the most.