From Yaya J. Fanusie & Alex Entz, FDD: “The Terror Finance Briefing Book is a new product of FDD’s Center on Sanctions and Illicit Finance (CSIF) created to help policymakers better understand how terrorist groups fund their operations so that they may be targeted more effectively. This publication will compile financial assessments of select jihadist organizations in the Middle East and Africa.”
Terror Finance Briefing Book
From Yaya J. Fanusie & Alex Entz, FDD: “The Terror Finance Briefing Book is a new product of FDD’s Center on Sanctions and Illicit Finance (CSIF) created to help policymakers better understand how terrorist groups fund their operations so that they may be targeted more effectively. This publication will compile financial assessments of select jihadist organizations in the Middle East and Africa.”
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Dollar Champion David Malpass to Treasury. @johntamny @larry_kudlow
What’s crucially important is that Malpass understands that money is decidedly not wealth. If every dollar in the world were vaporized today, the U.S. would remain the world’s richest country tomorrow. Malpass views money as Adam Smith did, as a medium of exchange that facilitates the exchange of actual wealth. Wealth is what we humans produce, while money is but a measure that speeds our exchange of the goods and services we create. The above matters a great deal now simply because the understanding of money within the political class is arguably at an all-time low. More and more economists, pundits and politicians think the value of money can be tinkered with on the way to artificially grand economic outcomes. Call it economic fabulism. While in the real world money merely facilitates exchange and investment, to the fabulists who increasingly dot the economic landscape, money is the wealth. And changes in its value can alter reality to our betterment. To the fabulists, dollar devaluation is the path to prosperity. They couldn’t be more incorrect. What’s important is that Malpass expertly knows why the fabulists are incorrect. He knows that the U.S. economy is but a collection of individuals, and individuals earn dollars. By extension, he’s well aware that the American people aren’t made better off if the dollars they’re earning are being stripped of their value by monetary officials. http://www.realclearmarkets.com/articles/2017/03/21/the_us_treasury_and _the_exciting_arrival_of_david_malpass_102597.html Abenomics and Japan: Japan Prime Minister Shinzo Abe’s leadership has earned him public support ratings near 60% but he hasn’t managed to pull the economy out of its multi-decade slump. Yet, argues Grant Newsham, although critics attack the prime minister about the apparent failure of Abenomics, it should be noted that none of his predecessors were any more successful on the economic front over the last 25 years.
Federal Reserve raise: Whether the Federal Reserve raises the overnight rate to 1% from 0.75% tomorrow rather than at its May meeting, as expected earlier, is a matter of compelling interest in the financial world but it shouldn’t be, writes David P. Goldman. Economic data suggests that the transmission mechanism between monetary policy and the real economy is extremely loose, if not completely broken and the Fed might want to consider why its models have stopped working and think about devising better ones.
China faces mounting financial risk even as an innovation drive aimed at rebalancing the economy away from low-value manufacturing falls short, according to a report by the Organization for Economic Cooperation and Development. – Wall Street Journal (subscription required) China’s exchange reserves: The PRC’s stockpile of international currency unexpectedly rose above the US$3 trillion level, according to the People’s Bank of China, reports Steve Wang. The rebound in reserves adds weight to the efforts of Chinese authorities to curb outflows through tighter surveillance of capital flows in the banking system that follows seven straight months of declines in the forex treasure chest with a drop of US$41 billion in December and US$12 billion in January. China trade deficit: State-owned enterprises were a key driver behind China’s resoundingly strong import figures for the first two months, that jumped 51.7% from a year ago to 466.7 billion yuan (US$67.6 billion), reports Steve Wang . State-owned enterprises’ hunger for iron ore and crude oil, along with other basic industrial materials, have pushed China import figures to their best start since 2011. Christopher Whalen writes: As the new government of Donald Trump engages with Beijing in areas such as trade and economics, Washington needs to appreciate that the economic situation in China is changing rapidly and has significant political ramifications. Rising wages and prices are eliminating China’s relative advantage in the global competition for investment and production, while higher productivity nations, such as the United States, are actually becoming more alluring. – The National Interest
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