Next Steps for Greece: The Complete Post-Referendum Roadmap

Next Steps for Greece: The Complete Post-Referendum Roadmap Source:  As reported earlier this morning, a slim majority of Greeks now support a "no" vote on the referendum set for this weekend. As a reminder, it's as yet ucnclear precisely what it is that Greeks will be voting on given … [Read more...]

What Are Capital Controls?

What Are Capital Controls? Source: Bloomberg  With bank deposits flowing out of Greece at a record pace amid doubts about its future in the euro, the country has instituted banking restrictions called capital controls. But just what are capital controls, do they work and does Greece have any other … [Read more...]

Detroit’s Money: Slim & Shady

It's so sad to see one of America's greatest cities fail so miserably---but that's exactly what's happened to Detroit.  Believe it or not, 50 years ago, Detroit had the highest per-capita income in the country.  In other words, it was the "richest" city in America.  Today, around 30% of its citizens … [Read more...]

The Federal Reserve: Ripping off Americans since 1913

Almost exactly 100 years ago, our government gave birth to the Federal Reserve System (known as the Fed) and placed them in charge of protecting the value of the US dollar.  Since then, the value of the dollar has declined by over 95%... Sounds like a Federal Fail to me... You might ask, how did this … [Read more...]