GIM - Weekly Commentary: Thoughts On Liquidity
"Money" challenged - and often confounded - economic thinkers for centuries. It functions both as a "medium of exchange" and "unit of account." Simple enough. Too often the focus has been how to use money to stimulate economic activity and achieve political gains. From my perspective, money's importance rests with its fundamental roles as a "Store of Value" and as the bedrock of financial systems. Unsound money has been a root cause of a lot of turmoil throughout history - including the monetary fiasco that collapsed in 2008. Yet concerns for the soundness of contemporary