Daily Dispatches

By Kandy Wong
South China Morning Post, Hong Kong
Thursday, April 27, 2023

China's push for greater use of its currency in bilateral trade settlements has made further inroads in South America, with Argentina set to follow Brazil and start to pay for Chinese imports in yuan rather than U.S. dollars.

Economy Minister Sergio Massa confirmed on Wednesday that Argentina, following a meeting with Chinese ambassador Zou Xiaoli and companies from various sectors, had "activated the swap with China."

... Dispatch continues below ...

By Alasdair Macleod
GoldMoney, Toronto
Thursday, April 27, 2023

This article looks at our current economic condition from the viewpoint of classical economics. It is now 87 years since classical economics were dismissed by John Maynard Keynes in his "General Theory of Employment, Interest, and Money."

By James Fontanella-Khan, Colby Smith, Stephen Gandel, and Brooke Masters
Financial Times, London
Wednesday, April 26, 2023

Shares of First Republic continued to plunge on Tuesday as regulators in Washington and financiers on Wall Street scrambled to come up with a plan to stabilise the ailing bank.

The California-based lender’s stock price, which is down by more than 93 per cent this year, fell by a further 49.4 per cent, a day after it revealed its customers had withdrawn $100 billion of deposits during last month's turmoil.

Yes, that might make life easier for central bankers, whose own living standards aren't likely to fall.

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People Need to Accept They Are Poorer, Bank of England Exec Says

By Eir Nolsoe
The Telegraph, London
Tuesday, April 25, 2023

Britons have to accept they have become poorer, a senior Bank of England official has said, claiming that an unwillingness to accept the nation's downward mobility was fuelling inflation.