Category Archives: Economics

A proposal for the Fed’s balance sheet

By Warren Coats[1] To save financial institutions from the collapse that threatened them after the bankruptcy of Lehman Brothers in September 2008, the Federal Reserve purchased government securities and Mortgage Backed Securities (MBS) sufficient to increase the size of its … Continue reading

Posted in Banks, Money | Tagged , , , , , , , | 2 Comments

Who pays for Uncle Sam’s deficits?

Who pays for Uncle Sam’s deficits?  

Posted in Debt, trade, Uncategorized | Tagged , , , , , , | 2 Comments

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

Posted in Economics, Money | Tagged , , , , , , , , , , , , , , | 4 Comments

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

Posted in Money, trade | Tagged , , , , , , | 3 Comments

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

Posted in News and politics, trade | Tagged , , , , , , , , | Leave a comment

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

Posted in trade | Tagged , , , , , , , , , , , , , , , , | 1 Comment

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

Posted in Money | Tagged , , , , , , , , , , | 1 Comment