The way things seem to work via Fed pass through is: global financial conditions (FCIs) => global growth => US financial conditions => US growth. Trans-Pacific shipping rates have plummeted roughly 75% from year-ago levels. 4) Rethinking monetary sovereignty. This academic paper, for those interested in the concept on monetary sovereignty, rejects the Westphalian understanding of monetary sovereignty. We propose a new conception of monetary sovereignty that acknowledges the reality of today’s global credit money system.

Source: New Zealand Herald October 09, 2022 07:39 UTC