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| Subject: Mercantilist Ideology A kind of economic theory. Mercantilism is an economic theory that holds the prosperity of a nation is dependent upon its supply of capital, and that the global volume of international trade is “unchangeable.” Economic assets or capital, are represented by bullion (gold, silver, and trade value) held by the state, which is best increased through a positive balance of trade with other nations (exports minus imports) and assumes wealth and monetary assets are identical. Mercantilism suggests that the ruling government should advance these goals by playing a protectionist role in the economy; by encouraging exports and discouraging imports, notably through the use of tariffs and subsidies. [Wikipedia: 2009] International finance By John Schroy, on May 23rd, 2009 |  2 comments  Who determines the ‘world reserve currency’? Central bankers? IMF officials? College professors? The answer is ‘none of the above’. In an open, global economy, the world reserve currency is determined by the judgment of millions of importers and exporters in many countries. The world reserve currency is decided by consensus and the personal decisions of exporters as to what currency they will accept for their goods. On this basis, it’s too early to count the dollar out. May 23rd, 2009 | Print Article |  Email Article |  Topics: Barack Obama, Brazil, Capitalist Ideology, China, Columbia University, Currencies, Harry Reid, IMF, Jeffrey Sachs, Jimmy Carter, legal tender, Mercantilist Ideology, Nancy Pelosi, reserve currency, Scientific American, SDRs, Thomas Gresham, Timothy Geithner | Category: World Economy | 2 comments |  Short urlGood and bad banks By John Schroy, on May 8th, 2009 | Leave a comment  In May 2009, the Obama administration divided some of America’s largest banks into ‘good banks’ and ‘bad banks’. This broke a long-standing practice of protecting the reputation of the US banking system. The Obama government seized TARP funds as an instrument of political power. Banks, large and small, are now eager to escape the trap of taking TARP funds, which will require them to raise $74.6 billion, either by selling equities on the market, or from profits. May 8th, 2009 | Print Article | Email Article | Topics: ACORN, Banco Brasileiro de Descontos, Bank Indonesia, Bank of America, Barack Obama, Barney Frank, BB&T, Ben Bernanke, Capital One, Chris Dodd, Chrysler, Citicorp, Federal Reserve Bank, Fifth Third, Henry Paulson, JP Morgan Chase, KeyCorp, Mercantilist Ideology, Merrill Lynch, Regions Financial, reserve currency, SunTrust, TARP, Timothy Geithner, United Auto Workers, US Bancorp, US dollar, Wells Fargo | Category: Financial Market Regulator | Leave a comment | Short urlQ1 2006 By John Schroy, on June 20th, 2006 | Leave a comment  In Q1 2006, the excess of US imports over exports continued to provide dollars to the rest of the world, which were invested in the US bond market. Although foreign central banks reduced flows into US treasuries and agencies after the high point of 2004, the shortfall has been more than covered by flows into bonds from foreign private sources. The driving force behind foreign purchases of US bonds is not so much related to interest rates as to worldwide neo-mercantilist impulses to favor exporters. June 20th, 2006 | Print Article | Email Article | Topics: Asset-backed Securities, Bonds, Fannie Mae, Mercantilist Ideology, Mortgage-backed Securities, REITs, Stock Buybacks, US Treasury | Category: Foreign Investors | Leave a comment | Short urlFeatured articles on inside pages
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