Saturday , October 16 2021
Home / Tag Archives: Dollar hegemony

Tag Archives: Dollar hegemony

The Consolidation of Dollar Hegemony after the Collapse of Bretton Woods: Bringing power back in

Collapse, ma non troppo!New IDEAS Working Paper on the alternative views of the collapse of Bretton Woods. From the abstract:Contrary to conventional views which suggest that the collapse of Bretton Woods represented the beginning of the end of the global hegemonic position of the dollar, the collapse of the system liberated American policy from convertibility to gold, and imposed a global fiat system still dominated by the floating dollar. The end of Bretton Woods and the set of regulations...

Read More »

Paul Volcker’s legacy

Paul Adolph Volcker (1927-2019) Paul Volcker has passed away, and many obits (NYTimes here) and blog posts will be published in the next couple of days. Most likely, the majority will suggest how Carter appointed him to bring down inflation, a courageous decision, that might have costed him the election, and how Volcker went on to stabilize the so-called Great Inflation. Volcker was the head of the New York Fed from 1975 to 1979, before he was appointed chairman of the Fed in that...

Read More »

Handbook of the History of Money and Currency

The Handbook (subscription required) has been edited by Stefano Battilossi, Youssef Cassis and Kazuhiko Yago. It has many interesting chapters. Barry Eichengreen writes on what determines that a currency is used as an international currency (or even as the predominant currency). While he follows conventional views in suggesting that role of money as a means of exchange and the importance of the country in international transactions, he does also explore the role of power (military power)...

Read More »

‘In Gold We Trust’: Waning confidence in US sends world’s central banks on buying spree — Darius Shahtahmasebi

I think this is partly correct. Probably more significant is the weaponizing of the USD in the economic aspect of hybrid warfare that the US is now carrying out against a number of countries a d sending a message that "you are either with us or against us" (ht G. W. Bush). Wars run two ways.Historically, gold has been the most secure reserve asset — the ultimate in safety, if one can protect one's gold holdings. Powerful nations are betting that they can do do in the event of loss of trust...

Read More »

Andrei Martyanov — About US Dollar and Sanctions, Yet Again.

It is clear that once dominance of the US Dollar and the system which sustains it is removed, consequences for the United States could be catastrophic. The question is NOT about IF US Dollar will survive as world's reserve currency--this is not even up for a debate--it is WHEN and HOW the departure will happen. Reminiscence of the FutureAbout US Dollar and Sanctions, Yet Again.Andrei Martyanov

Read More »

Michael Hudson — Super-Imperialism at the Pentagon

Sputnik International interviews Michael Hudson. Audio and transcript.Michael Hudson — On Finance, Real Estate And The Powers Of NeoliberalismSuper-Imperialism at the PentagonMichael Hudson | President of The Institute for the Study of Long-Term Economic Trends (ISLET), a Wall Street Financial Analyst, Distinguished Research Professor of Economics at the University of Missouri, Kansas City, and Guest Professor at Peking University

Read More »

Michael Hudson — On Finance, Real Estate And The Powers Of Neoliberalism Trump’s Brilliant Strategy to Dismember U.S. Dollar Hegemony

The end of America’s unchallenged global economic dominance has arrived sooner than expected, thanks to the very same Neocons who gave the world the Iraq, Syria and the dirty wars in Latin America. Just as the Vietnam War drove the United States off gold by 1971, its sponsorship and funding of violent regime change wars against Venezuela and Syria – and threatening other countries with sanctions if they do not join this crusade – is now driving European and other nations to create their...

Read More »

Paul Antonopoulos — Turkey to Ditch U.S Dollar in Trade, Urges Europe to Follow Suit

Turkish President Recep Tayyip Erdogan said on Saturday that his country is ready to trade with partner nations using national currencies. “We are preparing to carry out trade in national currencies with China, Russia, Iran, and Ukraine, which account for the bulk of bilateral trade. If European countries want to get rid of the pressure of the dollar, we are ready to create a similar system with them,” said the Turkish leader during a meeting in the Turkish city of Rize. Fort RussTurkey to...

Read More »