Kenya faces predicted economic challenges due to high debt. The IMF proposed fiscal consolidation which includes increased taxes and privatization has been criticised for causing job losses and exacerbating corruption. January 31, 2024 I worked [more…]
While Ruto’s calls for a just financial system were praised in the European Parliament, most Western states opposed the vote towards a fairer international tax system. The global south, however, succeeded in beginning the transfer [more…]
The strength of the Swiss franc (CHF) has been the topic of countless “expert” analyses for over a year and it has received considerable coverage in the mainstream financial press. In fact, the last time the [more…]
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…]
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…]
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…]
News here in the US has been full of the latest farce known as raising or not raising the debt ceiling. Today (Thursday, May25, 2023) the Wall Street Journal’s headline story reassures us that progress [more…]
A real systemic crisis If there was one thing more telling than the bank failures themselves, it was the governments’ reaction to them. The sheer panic that shook US, Swiss and Eurozone officials was almost pitiable [more…]
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