International Monetary Fund

Mexican Central Bank Head Quits Amid Fears Over "Trump Impact"

In one of the day's more puzzling developments, the head of the Mexican central bank, Augusten Carstens, announced he would unexpectedly stand down from his post next July, 4 years ahead of his term's end. Why the sudden announcement? Among the theories emerging is that Carstens has had enough dealing with the unpredicabilities in the political climate, especially since the Trump election, and wanted out.

The War On Cash Is Happening Faster Than We Could Have Imagined

The political and financial establishments want you to willingly get on board with the idea of abolishing, or at least reducing, cash. And they’re pumping out all sorts of propaganda to do it, trying to get people to equate crime and corruption with high denominations of cash. Simply put, the data doesn’t support their assertion.

In Surprising Move China Replaces Finance Minister, Ending Hope For Reform

In a stark and unexpected development, one which could have significant consequences for the future of China's economic reform push, on Monday Beijing unexpectedly removed Lou Jiwei, its highest-profile finance minister in years. His removal raises questions about whether reform-minded officials are being sidelined as Beijing prioritizes short-term growth over major overhauls.

Global Bond Selloff Resumes; Stocks Rise Following Strong Chinese Data

With October, the worst month for stocks since January, now in the history books S&P futures are eager to telegraph that the streak of five consecutive will end, with a modest gain of 0.3% in overnight trading, coupled with mixed global markets as the global bond selloff returned after strong Chinese economic data prompted concerns about rising global inflation.

Venezuela Throws In The Towel On Hyperinflation: Will Print 200x Higher-Denominated Bills

Venezuela’s government, defeated by hyperinflation, has finally thrown in the towel and plans to issue new bills in December with larger denominations—up to 200 times higher than the current biggest bill. The new coins and notes will go up to 20,000 bolivars, compared to the current higest denominated bill, 100 bolivars, worth about 8 cents on the black market.