U.S. critics of Modern Monetary Theory who point to Venezuela’s hyperinflation are missing the big difference between the two countries.
The Trump administration accelerates the abandonment of the dollar as the world’s principal reserve currency, which will be fatal to the American empire.
The 2007-2008 financial crisis triggered a massive shift in the global order.
A late surge helped U.S. stocks regain almost half their losses from the day before.
You know Fox News is all over this story: The Utah House of Representatives is fixin' to vote on a measure that would make gold and silver coins a viable alternative to the boring -- and inflation-prone -- forms of currency currently in national circulation.
The answer to the headline question, at least on Monday, would be $12234, as the euro dropped to its lowest point in four years As this CNN report puts it in somewhat startling terms, " Ongoing debt concerns prompted a flight to the safety of the US dollar".
The once-mighty euro, a currency that humbled American tourists in its day, has sunk to a 13-month low against the dollar. Greece's impending bailout apparently isn't settling nerves in the eurozone, which includes other major economies that look a little wobbly as of late.
The Chinamen did it In the great American tradition of finding foreign scapegoats for our problems, the hunt is on to somehow hold China responsible for the misery that Wall Street financiers inflicted upon the world .
Economist Joseph Stiglitz says the International Monetary Fund should create a new reserve currency, rather like declaring that a massive gold mine has been discovered under the IMF building.
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