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The big float

The big float
Jun 26,2021 - Last updated at Jun 26,2021
BERKELEY August 15 is not a red-letter day on most calendars. True, August 15, 1969, was the first day of the Woodstock music festival. And the Panama Canal opened to traffic on August 15, 1914. Mostly, though, mid-August finds officials and others on holiday.
But not on Sunday, August 15, 1971. That evening 50 years ago, at the conclusion of three days of crisis meetings, President Richard M. Nixon announced that the United States was preemptively closing the “gold window”, the financial facility through which the country made gold available to foreign governments and central banks at $35 an ounce. To contemporaries and historians alike, Nixon’s announcement marked the end, or at least the beginning of the end, of the Bretton Woods international monetary and financial system. And that meant it marked the end, or at least the beginning of the end, of American economic and monetary hegemony. The postwar per ....

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The big float

The big float
jordantimes.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from jordantimes.com Daily Mail and Mail on Sunday newspapers.

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Who's Afraid of MMT? | The Daily Star

Who’s Afraid of MMT?
‘A proper goal of economic policy in a sovereign and developed country is to achieve full employment, buttressed by a guarantee of jobs to all who may need them.’ Illustration: Benedetto Cristofani
As anyone who has ever been responsible for legislative oversight of central bankers knows, they do not like to have their authority challenged. Most of all, they will defend their mystique that magical aura that hovers over their words, shrouding a slushy mix of banality and baloney in a mist of power and jargon.
As a result, tormenting central bankers is great fun. John Maynard Keynes famously tormented Montagu Norman, Governor of the Bank of England (BOE) from 1920 to 1944. Wright Patman and Henry Reuss, two US congressmen who chaired the House Banking Committee in the 1970s, did the same to Federal Reserve Chair Arthur Burns. I know that Reuss enjoyed it; I assisted him at the time. ....

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Who's afraid of MMT?

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Who's Afraid of MMT? - The Daily Outlook Afghanistan

Who's Afraid of MMT? - The Daily Outlook Afghanistan
outlookafghanistan.net - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from outlookafghanistan.net Daily Mail and Mail on Sunday newspapers.

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