The conversation will also focus on Dr. Hanke's recent piece in The National Review on the passing away of one of America's greatest heroes and public servants, former Senator Bob Dole: Remembrances of Senator Robert Dole — and a Russia Story.

We also delve into the serious implications of the Covid-19 lockdowns impacting America and countries around the world, with the exception of places like Sweden which upheld its constitution, respected individual liberty, and chose a laissez-faire approach.

Dr. Steve H. Hanke is a leading world expert on currency boards, measuring and stopping hyperinflation, privatization, currency and commodity trading, water resource economics, and other topics.

As a senior fellow and director of the Troubled Currencies Project at the internationally recognized Cato Institute in Washington, D.C., Hanke studies countries unable to maintain a stable domestic currency. Often, it is difficult to obtain timely, reliable exchange-rate and inflation data for these “troubled currencies.”

Full bio: https://engineering.jhu.edu/ehe/faculty/steve-h-hanke/

Relevant reading materials:

The Wall Street Journal | The Monetary Bathtub Is Overflowing

Many economists say inflation is transitory. It will be persistent.

By John Greenwood and Steve H. Hanke

“Inflation is always and everywhere a monetary phenomenon,” Milton Friedman said. Inflation isn’t caused by temporary supply-chain disruptions. Take Japan during the 1979-80 oil crisis: Oil prices surged, but consumer prices remained stable. In China today, raw-material prices are soaring, but consumer prices have hardly budged. To explain what is happening in the U.S. economy, we present the bathtub theory of money and inflation. Money flows into the tub through the faucet. The bathtub has three drains."

Full text: https://www.wsj.com/articles/monetary-bathtub-overflowing-inflation-drain-transitory-11634847429

The Wall Street Journal | Freedom and Sweden’s Constitution

The country’s laissez-faire response to the coronavirus pandemic has deep roots in both culture and law.

By Lars Jonung and Steve H. Hanke

"In most countries, the tool of choice to “flatten the curve” of the coronavirus pandemic is the lockdown. Not in Sweden, which has chosen a rather laissez-faire approach. The borders have been kept open, and Swedes are free to travel within the country, visit bars and restaurants (with some restrictions), parks, hairdressers, gyms and most other places.

The cornerstone of the Swedish response is its constitution’s most important part, the Regeringsform. Chapter 2, Article 8 states: “Everyone shall be protected in their relations with the public institutions against deprivations of personal liberty. All Swedish citizens shall also in other respects be guaranteed freedom of movement within the Realm and freedom to depart the Realm.”

Full text: https://www.wsj.com/articles/freedom-and-swedens-constitution-11589993183

The Financial Times | On a long enough timeline is all inflation transitory?

"Inflationistas like Steve Hanke were indignant that US inflation was not a transitory supply chain problem. “Shifts in consumer spending have resulted in broad-based price increases across expenditure categories” because “the incompetent Fed has produced a massive amount of excess money,” he proclaimed."

Full text: https://www.ft.com/content/88111d60-52de-4341-9351-c48db837f30f

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America's Roundtable is co-hosted by Natasha Srdoc and Joel Anand Samy, co-founders of International Leaders Summit and the Jerusalem Leaders Summit.

America’s Roundtable from Washington D.C. informs, educates, empowers and challenges the listening audience about the importance to restore, strengthen, and protect our freedoms, the rule of law, and free markets. America’s Roundtable advances the ideas of freedom, the significance of freedom of speech, limited government, and the application of free market principles to solve problems.

America’s Roundtable presents in-depth analysis of current events and public policy issues while applying America’s founding principles.

America’s Roundtable radio program - a strategic initiative of International Leaders Summit, focuses on America’s economy, healthcare reform, rule of law, security and trade, and its strategic partnership with rule of law nations around the world. The radio program features high-ranking US administration officials, cabinet members, members of Congress, state government officials, distinguished diplomats, business and media leaders and influential thinkers from around the world.

America’s Roundtable is aired by Lanser Broadcasting Corporation on 96.5 FM and 98.9 FM, covering Michigan’s major market and the upper Midwest, SuperTalk Mississippi Media’s 12 radio stations and 50 affiliates reaching every county in Mississippi and also heard in parts of the neighboring states, including Alabama, Arkansas, Louisiana and Tennessee, and through podcast on Apple Podcasts and other key online platforms.

A professor in the Department of Environmental Health and Engineering at the Johns Hopkins University in Baltimore, Maryland, Dr. Hanke is co-founder and co-director of the Institute for Applied Economics, Global Health, and the Study of Business Enterprise, an interdivisional Institute between the Krieger School of Arts and Sciences and the Whiting School of Engineering.

The institute’s extensive research and publishing focuses on applied economics and finance, business history, and public health. Dr. Hanke is director of the Troubled Currencies Project at the Cato Institute and a senior fellow at Cato’s Center for Monetary and Financial Alternatives.

Further reading — recent articles and op-eds authored by Dr. Steve H. Hanke:

The Wall Street Journal: Too Much Money Portends High Inflation
The Fed should pay attention to Milton Friedman’s wisdom.
By John Greenwood and Steve H. Hanke
July 20, 2021

Brief excerpt via WSJ:

"In his Feb. 23 testimony to Congress, Fed Chairman Jerome Powell said that the growth in the money supply, specifically M2, “doesn’t really have important implications.” The experts, the press and the bond vigilantes were as quick to unlearn monetarism, if they ever had learned it, as Mr. Powell. Reporting about U.S. inflation rarely contains the words “money supply.” We are repeatedly told that the most recent upticks in inflation are anomalous and “transitory.”

Wrong. The inflation upticks aren’t temporary and were predictable, driven by an extraordinary explosion in the money supply. Since March 2020, the M2 has been growing at an average annualized rate of 23.9%—the fastest since World War II. There is so much money out there that banks don’t know what to do with it. Via reverse repurchase agreements, banks and money-market funds are lending money to the Fed to the tune of $860 billion. That’s unprecedented."

Official Monetary and Financial Institutions Forum: US inflation surge is harbinger of what’s to come

Money supply growth is feeding into economy and Powell’s position is wrong
By Steve H. Hanke
May 13, 2021

"Armed with those numbers and the monetarist model for national income determination, it is obvious that April’s year‐​over‐​year consumer price index inflation rate of 4.2% is simply a harbinger of more to come. This haunting spectre could spell the end of President Joe Biden’s triumphal march."

Brief bio:

Recognized globally for his expertise, Hanke advises a number of public and private institutions. A member of the Charter Council of the Society of Economic Measurement and of Euromoney Country Risk’s Experts Panel, he also served on the Governor’s Council of Economic Advisers in Maryland in 1976-77 and as a Senior Advisor to the Joint Economic Committee of the U.S. Congress in 1984-88.

As a senior economist on President Reagan’s Council of Economic Advisers, he led a team of economists in re-writing the federal government’s Principles and Guidelines for Water and Land Related Resources Implementation Studies. In addition, he was responsible for designing Reagan’s major privatization initiatives. A faculty member of the JHU Global Water Institute, Hanke remains a sought-after expert on municipal water system privatization.

His international appointments also include state counselor to both the Republic of Lithuania in 1994-96 and the Republic of Montenegro in 1999-2003. He advised the presidents of Bulgaria (1997-2002), Venezuela (1995-96), and Indonesia (1998). He played an important role in establishing new currency regimes in Argentina, Estonia, Bulgaria, Bosnia-Herzegovina, Ecuador, Lithuania, and Montenegro. Hanke has also held senior appointments in the governments of many other countries, including Albania, Kazakhstan, the United Arab Emirates, and Yugoslavia.

A well-known currency and commodity trader, Hanke is chairman of the Supervisory Board of Advanced Metallurgical Group N.V. in Amsterdam and chairman emeritus of the Friedberg Mercantile Group, Inc. in Toronto. During the 1990s, he served as president of Toronto Trust Argentina in Buenos Aires, the world’s best-performing emerging market mutual fund in 1995.

https://ileaderssummit.org/services/americas-roundtable-radio/
https://ileaderssummit.org/ | https://jerusalemleaderssummit.com/

America's Roundtable on Apple Podcasts: https://podcasts.apple.com/us/podcast/americas-roundtable/id1518878472

Twitter:
@steve_hanke
@ileaderssummit
@NatashaSrdoc
@JoelAnandUSA

America's Roundtable is co-hosted by Natasha Srdoc and Joel Anand Samy, co-founders of International Leaders Summit and the Jerusalem Leaders Summit.

America’s Roundtable radio program - a strategic initiative of International Leaders Summit, focuses on America’s economy, healthcare reform, rule of law, security and trade, and its strategic partnership with rule of law nations around the world. The radio program features high-ranking US administration officials, cabinet members, members of Congress, state government officials, distinguished diplomats, business and media leaders and influential thinkers from around the world.

America’s Roundtable is aired by Lanser Broadcasting Corporation on 96.5 FM and 98.9 FM, covering Michigan’s major market, SuperTalk Mississippi Media’s 12 radio stations and 50 affiliates reaching every county in Mississippi and also heard in parts of the neighboring states, including Alabama, Arkansas, Louisiana and Tennessee, and through podcast on Apple Podcasts and other key online platforms.