What’s a Tariff and Who Pays It?

What’s a Tariff and Who Pays It?

For the past few months, the markets have been digesting and trying to make sense of the ever-changing news flow about U.S. tariffs being imposed on trading partners by the Trump administration. So, what is a tariff? Spoiler alert: a tariff is a tax. But it’s...

Stablecoins as the New Scrip: Winners and Losers

Last Wednesday Congress passed legislation permitting organizations such as Walmart and Amazon to issue their own stablecoins. The implication of this is that large retailers (and others) can in effect create their own exclusive currency. Such currency would only be...