The Rethinking Of The International Monetary System

Fifty years ago, the world changed. On August 15, 1971, US President Richard Nixon slammed shut the “gold window,” suspending dollar convertibility. Although it was not Nixon’s intention, this act effectively marked the end of the Bretton Woods system of fixed exchange rates. But, in truth, with the rise of private cross-border capital flows, a system […]

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A Digital Nixon Shock?

US President Richard Nixon’s 1971 decision to end the US dollar’s convertibility into gold had such far-reaching consequences that it took policymakers decades to learn to manage the new system. Now, digital technologies are driving a new monetary revolution that could end the greenback’s global primacy altogether. Read More Here

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The Taliban, It Least, Are Striking Gold in Afghanistan

For decades, Afghanistan’s untapped mineral wealth has been touted as the country’s trillion-dollar El Dorado. But while the Afghan government has never been able to monetise mountains of copper, iron ore, gold, and gemstones, the Taliban have—and are ramping up their mining operations as just-started peace talks aim to shape the future of a postwar […]

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Will Trump Destroy The Dollar?

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 […]

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Straight From Shakespeare’s Pen

Welcome to Uzbekistan, a country that in recent months has been home to a drama that could have come straight from Shakespeare’s pen. Playing the leading roles are: a dictator, who has had his country under his iron grip for a quarter-century; his glamorous daughter, who he had been grooming as his successor; and his […]

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