Category: Monetary Policy
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Japan Burned $96 Billion Defending the Yen — and Got Almost Nothing for It
Japan Burned $96 Billion Defending the Yen — and Got Almost Nothing for It In less than one month, Japan spent the equivalent of nearly $100 billion trying to stop its currency from collapsing. It didn’t work. That failure isn’t just an embarrassing policy blunder — it’s a flashing warning light about the true state…
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Treasury Buybacks Are Not QE: What the Hype Gets Dead Wrong
Treasury Buybacks Are Not QE: What the Hype Gets Dead Wrong If you spent any time on financial social media this week, you heard two words repeated like a drumbeat: Treasury buybacks. Within hours, the comparisons flew — “QE light,” “Operation Twist,” “stealth money printing.” Gold spiked 3.6% in a single day. Everyone had an…
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The Fed Lost Track of Money 50 Years Ago — Here’s What to Watch Instead
The Fed Lost Track of Money 50 Years Ago — Here’s What to Watch Instead Most investors think the Federal Reserve has a firm grip on the monetary system. They picture legions of economists running sophisticated models, tracking every dollar in circulation, ready to pull the right lever at the right moment. The reality, as…
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The Fed Is Chasing Phantom Jobs Again — And the 2026 Playbook Is Identical to 2024
The Fed Is Chasing Phantom Jobs Again — And the 2026 Playbook Is Identical to 2024 If you watched the June 2026 jobs report drop and felt vaguely uneasy — like you’d seen this movie before — you weren’t imagining things. Negative payrolls, massive downward revisions to prior months, a falling official unemployment rate that…
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The Fed Sees Inflation. Every Other Market Disagrees. Here’s Why the Bond Market Is Right.
The Fed Sees Inflation. Every Other Market Disagrees. Here’s Why the Bond Market Is Right. Oil prices are surging. The Federal Reserve is threatening to raise interest rates. The financial media is buzzing about inflation. On the surface, the story seems obvious: prices are going up, and the central bank needs to act. But there’s…
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