…reserves. It is based on the assumption that deficits have no effect on the supply of treasury bonds (really) “When you pay your taxes, your bank loses reserves, but with…

…the foreign born population. For purposes of the Census, and this post for that matter, foreign born simply means “not a native born American.” Native born Americans include people born…

…expansion, rather than the marquee consumer brands, that the per-capita GDP data above is increasingly pointing toward. In terms of foreign trade dependency (FTD), China’s foreign trade development also follows…

…they divided power in foreign affairs between Congress and the president. Almost immediately, presidents began to assert their authority over foreign affairs, noting that the Constitution gave them power to…

By Linda Beale crossposted with Ataxingmatter FATCA (foreign account tax compliance act FATCA (foreign account tax compliance act–or is it the anti-fatcat act?) The attention of US tax enforcement has…

Treasury’s Nonsense about China’s Exchange Rate The Treasury Department issued their annual report this morning examining whether any countries are using their exchange rates to unfairly take advantage of the…

…use versus value in exchange. Marx’s socially necessary labour-time theory-of-value is not a labour theory-of-exchange-value or even a labour-time theory-of-exchange-value.  So let’s hear what the imaginary abstract socially average reader takes away…

…bank reserves, etc. Dollar bills and bank-account credits have traditionally been the dominant media of exchange for exchanges involving real-world goods and services, but even that is far less true…

…But foreign exchange market intervention by the central bank has not stopped an unofficial market from springing up. Last week the central bank, which saw its foreign exchange reserves shrinking…

…The financial channel reflects the impact of the exchange rate on the value of foreign currency liabilities, such as loans taken in a foreign currency. An appreciating dollar will raise…