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Examining the long-term geoeconomic consequences of the Ukraine war, notably the ongoing viability of the US dollar as global currency and the possibility of a future return to the gold standard.
BERKELEY — When the United States and its G-7 partners imposed sanctions on Russia’s central bank and barred Western financial institutions from doing business with Russian counterparties, commentators warned of far-reaching changes in the global monetary and financial order. Other countries would see those sanctions as yet another step in the West’s “weaponisation” of finance.
BERKELEY — The ruckus in the United States over the federal debt ceiling has redirected attention toward soaring public borrowing. Against the backdrop of monetary tightening by the Federal Reserve, piling up more debt is reinforcing concern about the explosive growth of the government’s interest obligations.It is a terrifying narrative, redolent of impending crisis. The only
BERKELEY — The ruckus in the United States over the federal debt ceiling has redirected attention toward soaring public borrowing. Against the backdrop of monetary tightening by the Federal Reserve, piling up more debt is reinforcing concern about the explosive growth of the government’s interest obligations.It is a terrifying narrative, redolent of impending crisis. The only
By Paul Krugman of The New York Times Is the U.S. dollar at risk of losing its position of international dominance? I’ve been seeing some breathless speculation to that effect over the past few weeks; I’ll talk about the sources of that speculation in a minute. But let me first note that this is ...