Since the Bretton Woods Agreement in 1944 the dollar has been the world’s preferred reserve currency; i.e., the major trading nations of the world were willing to hold dollars in vast amounts to satisfy their [more…]
If this kind of theoretical reasoning seems too abstract, let us think about it more practically: Any public servant, any member of government, and even the leader of a nation, has very different motivations than [more…]
More writings by uncle, John Alldridge. This time he is reporting from South America in 1960 for the Birmingham Evening Mail – Jerry F I am writing this at a window seven floors up above [more…]
For decades already, one of the most popular and commonly employed attacks of Keynesians and other left-leaning economists was the one against the idea of “trickle down economics”. They ridiculed the notion that a rising [more…]
A good start Whatever one might think about which currency is better suited to be used in trade or as a benchmark or as a central bank reserve, the fact remains that the USD’s days [more…]
Endless ink has been spilled by economists and financial analysts in their efforts to predict the impact of de-dollarization. As might be expected, most of those who embrace a US-centric view of the world and [more…]
Last Tuesday, June 20th the Pennsylvania House of Representatives passed a bill to raise the Commonwealth’s minimum wage to $15 per hour by 2026. Although the bill is unlikely to pass the Senate, it seems [more…]
There is clearly a common denominator in the kind of “solutions” that the State comes up with to deal with the problems that it caused (and that’s most problems). Not only are these remedies worse [more…]
The US dollar has been the world’s premier reserve currency since the Bretton Woods Agreement of 1944. Until 1971 it was redeemable by foreign central banks in gold at $35 per ounce. As long as [more…]
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