Tag Archives: economics

The Caspian Connector

“To follow the Silk Road is to follow a ghost. It flows through the heart of Asia, but it has officially vanished leaving behind the pattern of its restlessness. The road forks and wanders wherever you are. It is not a single way, but many: a web of choices” – Colin Thubron, author of the “Shadow

Bitter Stalemate In Money Supply

In 1661 Johan Palmstruch discovered a Midas touch when he realized that he could solve his bank’s liquidity spread of short-term deposits and long-term loans by issuing credit paper. Dubbed “Palmstruch’s Notes”, they were credited as the first instance of IOUs (“I owe you”) in Europe, backed by nothing but the general public’s confidence in