Book of the week

“America has progressed from infancy to senility without passing through a period of maturity.” So said a character in one of Ian Fleming’s short stories in 1960. He was wrong then – or, was he, as so

The dots appear to contradict one another, puzzling observers. How to connect them? Inflation over the last five years has been double the Federal Reserve’s target. Why then, does it cut its key lendi

Since World War II, the two landmark events in the evolution of money were Bretton Woods in 1944, when the dollar became the de facto global reserve currency, and then the Nixon Shock of 1971, when th

Issue of the week: presidential largesse What ...

Libertarian president Javier Milei has been facing a gathering currency crisis after his party suffered a stinging defeat in local elections earlier this month. The peso has shed about a fifth of its

Is gold the trade of the decade? The yellow metal has soared 40% this year in US dollar terms, making more than 30 successive record highs along the way. It has gained 135% since January 2020, outstri