Our Two Most Popular Blog Articles in May

There have been many blog articles here that attracted a lot of interest and thousands of readers. Below are links to the two most popular blog articles in May. Both were related to a call for "new rules of the game".  

This is phrase used by central bankers when they are calling for changes to the international financial system. Since that is what this blog is all about, it makes sense that these two articles were very popular. The articles were read by people in over 50 countries around the world.

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BIS: Time to Think About New Global "Rules of the Game"


We often cite speeches and articles found on the Bank for International Settlements (BIS) web site here on the blog. This is because the BIS and the IMF are the two most influential global financial institutions in the current monetary system. If we are going to see major change in the system, these two organizations will be in the middle of that change. The article linked above contains remarks made by BIS General Manager Jaime Caruana at the recent IMF meetings in Washington DC.

Head of India's Central Bank says IMF needs to Re-examine "Rules of the Game"

Rules of the game is a term used by central bankers to describe the fundamental rules used to govern the international monetary system. If someone is calling for new "rules of the game" that means they are calling for monetary system change which is what we follow here on the blog. A big thank you to a reader who sent me this link to an article in the Economic Times! (an Indian based publication) This article is about comments from Raghuram Rajan who is the head of the central bank for India (Reserve Bank of India). He also says it may be time for new rules of the game.

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My added comments:

When you see this kind of similar pattern in articles and speeches by central bankers, it suggests a consensus is developing. In this case a consensus to change the rules of the game translates into major changes in the global monetary system. That can impact everyone so everyone should be interested in the topic.