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How do Blacks navigate a currency system they did not create? By showing they know the currency system better than anyone else.

Black Americans have been making arguments about reparations for slavery for decades. The argument that the United States owes the descendants of Africans brought to the United States is a powerfully emotional one. Today’s Blacks are either descendants of African indentured servants who saw their contracts for freedom broken by wealthy Anglo-Saxon landowners, merchants, or … Continue reading How do Blacks navigate a currency system they did not create? By showing they know the currency system better than anyone else.

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The major questions doctrine: Using the administrative state to mask centralization of executive power.

Rather than calling attention to himself by eliminating administrative agencies, the next President could maintain the facade of an executive that democratically represents Americans by distributing power to independent agencies. Continue reading The major questions doctrine: Using the administrative state to mask centralization of executive power.

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For all his stumbling, Joe Biden managed to successfully spin two narratives.

The State relies on the political means of extracting financial energy. The political means are based in coercion, a coercion that combines police power with the narratives produced from executive orders and rules; court opinions, and legislation from Congress. Mr Biden, as America’s chief political officer thus chief architect of the political means, was able enough not to weaken this narrative.

Mr Biden’s remarks, fumbling speech and all, was a smart one. Continue reading For all his stumbling, Joe Biden managed to successfully spin two narratives.

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Should traders pray for state intervention in foreign exchange markets?

If I am assessing the probability of the exchange rate of a currency pair exceeding a certain price at a certain time, that expectation is going to be based, in part, on what government action may or may not occur. For all the anti-intervention chatter we hear from asset managers all over mainstream and social media, going through the following back-of-the napkin exercise has brought me to a contrarian view. Maybe some of these asset managers would like to see some kind of government action that creates profits for them. Continue reading Should traders pray for state intervention in foreign exchange markets?