Will digital currencies eventually become the reserve currencies of the world, and why?

Owatonna, MN Correspondent-When you think about all the forms currency has taken in the world since humans began to trade goods and services with each other, it is certainly a possibility that some type of digital currency may become the reserve currency of the world. After all, currencies have taken the form of gold, silver, copper, salt, shells, even cigarettes (in prison and prisoner of war camps). Why not add electrons to that list? Continue reading

Symposium 2011: What reforms, if any, would you suggest be made to the Federal Reserve? Should the Fed’s dual mandate to achieve maximum employment and price stability be repealed or should there be specific targets for each?

RMC:  Well, I think the Federal Reserve has a useful purpose but it has been responsible for the biggest economic disasters in the past fifteen years.  Low interest rates fueled the internet bubble back in the late 1990s.  That didn’t turn out too well for the economy or stock market.  And accommodative policy helped fuel the real estate bubble and we’re still trying to recover from that.  Continue reading

Digger Cartwright releases The Case of the Futile Federal Reserve

Not since the Savings and Loan crisis of the 1990s has the U.S. banking system faced such dark times. A number of factors, working in concert, have driven the financial system to the brink and have the potential to send a systemic shock throughout the economy. Couple this with what is now an impotent Federal Reserve and we are faced with what could be the most significant financial crisis since the Great Depression. Continue reading