States cannot create good money. They are interested parties. A good monetary system should discipline states – i.e. hold them to account. A state-run money cannot do that. That is the flaw in proposals such as those made by Positive Money and The International Movement for Monetary Reform.
(Let me add, however, that I go along with many of the criticisms that my good friends James Robertson , Victoria Chick and others make of existing monetary systems.)
This week's report focuses on some of my long-time favorite sources of banking and FinTech news and insight. I follow the industry through reports from media organizations and industry experts I respect and trust. I started thinking about my sources and methods after reading Ron Shevlin's post "FinTech influencer lists have jumped the shark."
This report originally appeared in IndraStra Global, translated and adapted from an opinion, originally published in Spanish by the Strategic Studies Institute of the Mexican Navy (Instituto de Investigaciones Estratégicas de la Armada de México)/
Last October, mulling over the economic environment the next President would face, I sent Hillary Clinton memos on how she should provide some stimulus to sustain the current expansion and raise incomes by boosting business investment and productivity. Alas, she did not become President; but that didn’t change our current economic challenges. To be sure, President Trump’s manifold troubles may preclude Congress from doing anything meaningful until after the 2018 elections. But if that’s not the case, here’s some advice for both sides.