Proponents of de-dollarization might resent America’s exorbitant privilege all they want. But what can they do about it? Analysts usually trace the U.S. currency’s hegemony to its outsized use in international commerce. Even a decade after China eclipsed the U.S. as the world’s largest goods-trading nation, that dominance doesn’t appear to be fading. The much-awaited … Read more
Morgan Stanley (NYSE: MS) today announced that all U.S. law-governed U.S. dollar LIBOR ICE Swap Rate (“USD LIBOR ISR”)-linked debt securities issued by Morgan Stanley and Morgan Stanley Finance LLC, and certificates of deposit issued by Morgan Stanley Bank, National Association, and Morgan Stanley Private Bank, National Association, (collectively, “Morgan Stanley USD LIBOR ISR Instruments”) … Read more
The most formidable element of U.S. national power isn’t its military. The trillions spent on the mighty American military machine pale beside the influence created by the dominance of the dollar in the international economy. The central role of the U.S in global business exempted it from many of the normal rules while extending leverage … Read more
(Kitco News) Gold will increase in value while the U.S. dollar drops, said Paulson & Co. founder John A. Paulson. And that is the hedge fund manager’s outlook for this year, the next three years, and the next five years. “There has been a significant increase in demand from central banks to replace dollars with … Read more
The US dollar, Euro, Japanese Yen, British Pound, and to a lesser extent the Chinese Yuan currently hold the distinction of being an international currency.India has taken a significant step toward achieving this status for the rupee. Expand But what does it mean for a currency to be international and why is India making this … Read more
When Vibeke Arentz and her husband, Jeff Kacirk, decided to move from the San Francisco Bay Area to the south of France four years ago, it was a chance for the couple to immerse themselves in a place that fascinated them. They have not been disappointed. “The culture, the history, the cuisine, the scenery, the … Read more
Former CEO and co-founder of Twitter Jack Dorsey on December 21 tweeted that Bitcoin would replace the American dollar. The tweet was in reply to Grammy award-winning rapper Cardi B’s question on Twitter on whether the crypto would replace the greenback. “Yes, Bitcoin will,” replied Dorsey to the question. Following the tweet, prices of both … Read more