Indian Foreign Minister Throws Cold Water on the Idea of a BRICS Currency
The Indian foreign minister make fatal (at least for now) objections to the idea of a BRICS currency.
Read more...Category Archives: Currencies
Who Holds All These US Treasuries? Update on the Investors in the Ballooning US National Debt in Q2
As the Fed unloads Treasuries, others are purchasing them…including foreign central banks.
Read more...BRICS and De-Dollarization: An Alternative or Potential Disaster?
A discussion of some proposals for the BRICS de-dollarization project, suggesting a lack of convergence of ideas among key players.
Read more...Why is Modern Monetary Theory So Important?
A big reason Modern Monetary Theory elicits pushback is that it threatens power relations, specifically, the perceived primacy of financiers.
Read more...Is US Policy Saving the Dollar or Destroying It?
How the global economy is being restructured, in no small measure due to inept, self-destructive policy moves that undermine dollar use in trade.
Read more...First Russia-China Barter Trade May Come This Autumn, Sources Say
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Read more...The Myth That the US is Rapidly Approaching Bankruptcy
Michael Hudson and Richard Wolff take apart widespread myths about Federal spending and debts.
Read more...BRICS Considers Mutual Settlements Similar to the Early EU
Finally, a comparatively modest BRICS-escape-the-dollar proposal that makes sense.
Read more...Status of US Dollar as Global Reserve Currency: Central Banks Diversify from USD-Assets to Other Currencies and to Gold
Long, slow erosion of the US dollar’s dominance. China’s renminbi keeps losing ground, many other currencies gain, as does gold
Read more...Michael Hudson: US Cryptocurrency as an Offshore Banking Center
Yet another cryptocurrency scheme, here for its major use case, tax evasion. But for a good cause, the US dollar!
Read more...“Dollar Doomsters Have Got It All Wrong”
Why reports of the [imminent] death of the dollar are greatly exaggerated.
Read more...Michael Hudson: Some Myths Regarding the Genesis of Enterprise
“Modern” elements of enterprise were present in Mesopotamia in the third millennium BC and the institutions supported long-term growth
Read more...The IMF’s Chronicle of a Catastrophe Foretold
A dour IMF forecast bodes ill for developing economies and provides more confirmation of crises in the offing.
Read more...Elections and Devaluations
Quelle surprise! Regimes facing elections often goose their economies, leading to currency appreciation pre-vote and devaluations afterwards.
Read more...Are the BRICS and Their New Development Bank Offering Alternatives to the World Bank, the IMF?
An assessment of how far BRICS has gotten in creating new monetary arrangements and institutions. The short version is “not very”.
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