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  Last December, when Milei became President of Argentina, his Minister of Economics, Luis Caputo, implemented a transitory plan to (a) clean up the central bank’s balance sheet and (b) remove all capital controls (cepo cambiario), paving the way for a more permanent monetary regime. It was implicitly suggested that by mid-2024, the transitory plan […]

  Despite the divergence of interests between Russia and China, the leaders of both countries share a deep commitment to changing the world order: reining in American power and shifting the center of economic and political gravity from the Atlantic to the Asian region. The Shanghai Cooperation Organisation (SCO) has de facto become the umbrella […]

  The US House of Representatives recently passed a bill to prohibit the Federal Reserve from issuing a Central Bank Digital Currency (CBDC) without explicit congressional authorization. Some representatives, including Majority Whip Tom Emmer (R-MN), believe a CBDC would pose significant risks to financial privacy. While the concern is certainly warranted, the government’s already-existing ability to […]

Providing personal freedom, security and prosperity for the people is the duty of any political leadership. Free people in a prosperous and secure environment are what make a country or a region great. This is exactly what Hungary means with its motto “Make Europe Great Again.” For the six months from July 1 onward, Hungary […]

  Yes, the rally in the “Magnificent Seven stocks” – the “Mag 7” – has been impressive. No, the rally is not over yet. Yes, this is a bubble – the “AI-bubble”. And yes, the AI-bubble will end badly for many, many people. The only question is when. The phrase “this time is different” was, […]