If every currency is a consensual delusion, then bitcoin, a digital cryptocurrency that changes hands over the internet, feels more like a consensual hallucination on psychedelic drugs. Read Here – The Atlantic Also Read: Why Bitcoin Fever Is A Bubble Waiting To Burst
The United States’ loud complaints about the Chinese currency’s exchange rate, a thorny issue in the two nations ties over the past decade, have quietly faded away since Donald Trump became US president. Read Here – South China Morning Post
Pundits have been saying last rites for the dollar’s global dominance since the 1960s – that is, for more than half a century now. But the pundits may finally be right, because the greenback’s dominance has been sustained by geopolitical alliances that are now fraying badly. Read Here – Project Syndicate
Where does North Korea, whose gross domestic product is less than that of some American cities, get the money to fund its nuclear efforts? Kim Jong-un and his regime obtain much of their money from a vast series of criminal enterprises that trade in everything from goods made by forced labor to counterfeit currency to […]
The new central bank network created since 2008 is of a piece with the new networks for stress testing and regulating the world’s systemically important banks. The international economy they regulate is not one made up of a jigsaw puzzle of national economies, each with its gross national product and national trade flows. Instead they oversee, […]
It’s a story about the tail that wagged the dog that didn’t bark that isn’t in Kansas anymore. The dog that didn’t bark is commodity prices, and the tail that wagged is the Chinese yuan. Read Here – Asia Times
Nepalese citizens hold an estimated $500 million in the banned notes, most of them sent back as savings by the more than one million Nepalese nationals working in India, says Chiranjibi Nepal, governor of the country’s central bank, the Nepal Rashtra Bank. Yet seven months after the ban, India has yet to exchange those notes […]
Under President Trump, it is possible, for the first time in a generation, to imagine a concerted attack on the central bank. Conceivably, the United States could repeat the story of the mid-1960s and ’70s, when a 15-year period of central-bank independence was brought to an end by presidential bullying. Back then, Lyndon B. Johnson […]
Twenty years ago next month, the British government gave the Bank of England the freedom to set interest rates. That decision was part of a trend that made central bankers the most powerful financial actors on the planet, not only setting rates but also buying trillions of dollars’ worth of assets, targeting exchange rates and […]
Markets have soared: the ruble is the best-performing emerging market currency this year, up over 20 percent since late January against the dollar, and equities have posted double-digit gains. Russian markets have benefited from a range of macroeconomic and technical factors—a moderate pickup in oil prices, a search for yield by investors punished by low […]
looking beyond borders 