One of the questions I am asked most frequently in my global travels is what will be the cause of the next financial crisis. This question is asked by those who understand that this crisis is coming but want to pin down the date or a specific turn of events that will help them know
It’s difficult to find a central bank speech or press release that does not implicitly or explicitly uphold the “independence” of the central bank and its conduct of monetary policy. Of course, there are many central banks that have no independence at all, including failed states such as Venezuela and totalitarian states such as
I’ve been involved in international relations and national security longer than I’ve been involved in capital markets. Before attending law school and starting out as a bank lawyer, I got a graduate degree in international affairs in 1974. I’ve closely studied national security threats from the Cold War arms race through Vietnam, the Russian invasion
