Author Archives: wcoats

About wcoats

Dr. Warren L. Coats specializes in advising central banks on monetary policy, and in the development of their capacity to formulate and implement monetary policy. He is retired from the International Monetary Fund, where, as Assistant Director of the Monetary and Financial Systems Department, he led missions to over twenty countries. Before then, he served as Visiting Economist to the Board of Governors of the Federal Reserve System, and to the World Bank, and was Assistant Prof of Economics at the Univ. of Virginia from 1970-75. Most recently he was Senior Monetary Policy Advisor to the Central Bank of Iraq; an IMF consultant to the central banks of Afghanistan, Kenya and Zimbabwe; and a Deloitte/USAID advisor to the Government of South Sudan. He is currently a member of the Editorial Board of the Cayman Financial Review and until the end of 2013 was a member of the IMF program team for Afghanistan. His most recent book is entitled "One Currency for Bosnia: Creating the Central Bank of Bosnia and Herzegovina."

Who pays for Uncle Sam’s deficits?

I have reviewed this subject a lot, but some people, unfortunately, still don’t get it.  https://wordpress.com/view/wcoats.blog On May 18, (last week) the U.S. public debt was 21.1 trillion dollars or 109% of our total output (GDP).  Of that, 15.4 trillion … Continue reading

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Free Banking in the Digital Age?

By Warren Coats[1] Introduction A number of central banks are considering issuing digital currency either in place of the paper currency they now issue or in parallel with it.  The advantages of central bank digital currency (CBDC) over paper currency … Continue reading

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Review of John Tamny’s attack on Jack Kemp Foundation article

By Dr. Warren Coats Dr. Coats is retired from the International Monetary Fund, where he was Assistant Director of the Monetary and Capital Markets Department. In an article titled, “When the Ideas of Thinkers and Great Statesmen Are Perverted,” John Tamny … Continue reading

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The Future of Israel and Palestine

At an otherwise friendly dinner conversation at the home of Israeli friends, our host explained that Israel having taken over the West Bank and Gaza Strip (WBGS) in the 6 day war in 1967, i.e. having won the war fair … Continue reading

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Econ 101: Trade Deficits, another Bite

Some years ago my friend Moritz Schularick and I were walking down a street in what is now called midtown Berlin (the former Eastern zone). Moritz asked me if I could explain why capital was flowing into the U.S. from … Continue reading

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Econ 101: Trade deficits

Responding to critics of the administration’s proposed steel and aluminum tariffs, Commerce Secretary Wilbur Ross stated on CNBC: “I think this is scare tactics by the people who want the status quo, the people who have given away jobs in … Continue reading

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Bitcoin, Cybercurrencies and Blockchain

What would we do without money/currency? Money is the unit in which we express prices (making it easer to compare the relative cost of things) and the asset with which we pay for our purchases and debts. A good currency … Continue reading

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