Impossible trinity
The best proposal might be the development of a market for new types of bonds that work more like equity than debt. These securities, called growth-linked bonds, would pay interest that rises or falls depending on a country's GDP. Instead of being forced to shell out interest payments based on a prefixed schedule, a government would be allowed to p
... See morePaul Blustein • And the Money Kept Rolling in (And Out): Wall Street, the Imf, And the Bankrupting of Argentina: Wall Street, the IMF and the Bankrupting of Argentina
The economist Milton Friedman once wrote: Only a crisis—actual or perceived—produces real change. When that crisis occurs, the actions that are taken depend on the ideas that are lying around. That, I believe, is our basic function: to develop alternatives to existing policies, to keep them alive and available until the politically impossible becom
... See moreGeoff Mulgan • Another World Is Possible: How to Reignite Social and Political Imagination
Modern economics has formulated “The Impossible Trinity” to express the plight of modern central bankers, which states: No government can successfully achieve all three goals of having a fixed foreign exchange rate, free capital flows, and an independent monetary policy.
Saifedean Ammous • The Bitcoin Standard: The Decentralized Alternative to Central Banking
The issue of duality was the greatest example. On no issue were we more right. On none did we fail more ignominiously. [...] complete freedom of banks to become owner/members of both the MasterCharge and BankAmericard systems would foreclose the emergence of new systems, and severely limit consumer choice.
Dee Hock • One from Many: VISA and the Rise of Chaordic Organizati…
Ultimately, as I argue in this essay, these changes will increase the supply of fiat money and financial repression globally. These two things must happen because no US, EU, Chinese, or Japanese leaders wish to deleverage their system to bring it into a new sustainable equilibrium. Instead, they will print money and destroy the real purchasing powe... See more
Arthur Hayes • Trump Truth
And the Money Kept Rolling in (And Out): Wall Street, the Imf, And the Bankrupting of Argentina: Wall Street, the IMF and the Bankrupting of Argentina
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