The Monetary Matters Network, Released on 5/28/25 (Recorded on 5/20/25)

Steve Hanke, author of “Making Money Work” and Professor of Applied Economics The Johns Hopkins University in Baltimore, joins Monetary Matters to share his thoughts on the anemic bank credit growth, fiscal and tariffs policy in the United States, and the global Dollar system.

00:00 Intro
00:26 VanEck $OUNZ Pre-roll
01:33 Money Supply Shock To Cause Recession By End of 2025
09:29 “Tariffs Are Always Bad”
17:06 Is A Persistently Negative Current Account (ie Deficit) Sustainable?
20:50 “Big Beautiful Bill”: U.S. Fiscal Policy In 2025 And Beyond
27:49 Should The U.S. Dollar Weaken Because Of Its Consistent Current Account Deficits?
31:42 China, And Why Global Currency Hegemons Tend To Last For A Long Time
35:42 Why Haven’t We Had A Great Depression With The Flatlining In Money Supply? (Quantity Theory of Money)
40:14 Banking Regulations and Federal Reserve Quantitative Tightening (QT)

Steve Hanke is an American applied economist at the Johns Hopkins University in Baltimore, Maryland. He is also a senior fellow and director of the Troubled Currencies Project at the libertarian Cato Institute in Washington, DC, and co-director of the Johns Hopkins University’s Institute for Applied Economics, Global Health, and the Study of Business Enterprise in Baltimore, Maryland. Hanke is known for his work as a currency reformer in emerging-market countries. He was a senior economist with President Ronald Reagan’s Council of Economic Advisers from 1981 to 1982, and has served as an adviser to heads of state in countries throughout Asia, South America, Europe, and the Middle East. He is also known for his work on currency boards, dollarization, hyperinflation, water pricing and demand, benefit-cost analysis, privatization, and other topics in applied economics. Hanke has written extensively as a columnist for Forbes magazine and other publications. He is also a currency and commodity trader. His latest book is Capital, Interest, and Waiting: Controversies, Puzzles, and New Additions to Capital Theory.

  economy, recession, steve hanke