If I understood your question, it's possible I would have a view. But it's also possible that I'd think sigh, @williamglenn doesn't want to engage and is just answering a question… (View Post)

And it works in a situation where there are tens of thousands of small suppliers, and just a couple of purchasers. It might even work if you run a property development company, and there are lots of … (View Post)

We did: but that was different because in those days because foreign reserves in those days were denominated in gold (something that was true until the mid 1970s and the end of Bretton Woods). (View Post)

What has legitimacy got to do with it? The point is that entities (whether people, companies or countries).don't usually try and maximize this week's outcome at the expense of future outcom… (View Post)

Well, Europe has no interest in projecting power; the vast bulk of any defence capability is going to be land based, and defensive. The goal is to deter Russia (or someone else) from fucking around a… (View Post)