The 2020s appear to be a never-ending parade of global groupthink. The Russian Oil Price Cap is yet another stupid and self-destructive idea that should have been suffocated at birth. It cannot possibly achieve what its supporters claim, and it represents emotional value signalling from the Big Hug Club rather than any semblance of rational thought.
The failure of its leaders to understand how sovereign currencies work is now starting to cripple the West
How the new payment process for gas in Russia will work, including how it is settled at the Moscow Exchange, all of which leads to some interesting observations
Russia has easily countered the attempts at financial sanctions, resulting in some interesting outcomes that further confirm the view taken by Modern Monetary Theory
Electronic impulses on computers only stop tanks in Call of Duty. War is not a game, and stopping it will require rather more than attempts at financial alchemy
The much vaunted IMF crisis in the UK was because the government violated an MMT golden rule: government must not borrow in a foreign currency
How exactly does an FX transaction works in a floating currency rate environment? Read on to find out
Running an external surplus requires exporters to export. The right to export more than you import has a price. What does that mean on the other side of the trade?
Things make a lot more sense when you realise other currency areas love your savings products — a lot