Independent Central Bank: The Modern Gold Standard 132.0
The Central Bank of the Philippines struggles for independence An independent central bank is the direct descendant of the gold standard. In fact, it is a very innovative replacement that is fit for our time. The key word here is “independent.” Independence allows central banks to exercise standard monetary policy focused on the value of [...]
Crisis as Opportunity Gives More Power to the Strong 2 of 3
(Start of Part 2 of 3. From Post #64) Today, the European Chamber echoed my post on Monday, June 2 (See Post #64). The financial crisis presents opportunities from changing conditions that level the playing field to investors. Indeed, the government ought to take advantage of the crisis to initiate needed reforms to better position [...]
Support the Bangko Sentral for a Stable Peso 3 of 3
Let us support the Bangko Sentral ng Pilipinas as a central bank that provides the price anchor, the present-day gold standard, for our economy. Through real independence from political overlords, the price anchor provides long-term benefits: A stable price of money discourages speculation. Success in investing will now require merit in product differentiation and business [...]
Is the Bangko Sentral in Trouble? 2 of 3
What can the people do if the government itself violates the law? Not much especially if no harm is felt. And even if the violation ultimately leads to a bust that hurts the people, much less so, it seems. The violation of the law I am speaking about is the successive administrations’ neglect in funding [...]
Innovators Love a Stable Peso 1 of 3
Note: This post has been re-written in a more accessible and longer style. Please click here for link to Post 132, the better version. An independent central bank is the linear descendant of the gold standard; in fact, its very innovative replacement fit for our time. The operative word here is “independent.” By being independent [...]
