Since the financial crisis in 2008/09 the Federal Reserve has printed trillions of dollars and purchased assets with them, mostly US government bonds and mortgage-backed securities. This has caused the assets on the Fed’s balance sheet to swell by around $2.5 trillion since the collapse of Lehman Brothers. Operations of this magnitude have caused the [...]
By Gareth B The prodigious frenzy of speculation in digital currency Bitcoin has taken the financial press by storm in recent weeks. Much has been written on whether the currency, and the decentralized network crucial for its production and transference, could ever become widely understood and broadly used enough to ever qualify the quaint digital [...]
By Piet le Roux Supporters of Black Economic Empowerment (BEE) argue that BEE promotes economic development, reduced inequality, social upliftment and other good causes. Actually, over the last decade, since the adoption of the Broad-Based Black Economic Empowerment Bill in 2003, the true main goal of BEE was the redistribution of capital according to artificial, [...]
By Eustace Davie Every nation has a choice between having either a closed, highly regulated and stagnant economy or an open, free and rapidly growing economy. It is time for SA to choose freedom over repression, starting with a sound currency as a basis for building a thriving economy. One country after another is experiencing [...]
By Chris Becker
The destruction of the Zimbabwe dollar has forced fiscal discipline on the Zimbabwean government, as the public no longer accepts the money that government prints and spends. The public now only accepts monies printed by other governments. As a result, the government is now resorting to outright asset expropriation to steal resources from the private sector.