When Credibility Is Not Enough: Fiscal Dominance, Monetary Policy, and Exchange Rates in Early Modern Venice
Institutional design does matter in determining the international credibility of a currency.
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Danny Haiphong: Pepe Escobar and Michael Hudson Join on BRICS Plus Six, Ukraine, and the Multipolar World Economy!
Danny Haiphong talks to Michael Hudson and Pepe Escobar about hot mulitipolarity topics, particularly BRICS and its “currency” plans
Read more...BRICS’ Expansion Is Beneficial But It Also Isn’t Without Strategic Challenges
BRICS is set to add important new members…but will their diversity complicate coming to common policy stances?
Read more...A Russian Paper on New Currency/International Reserve Options Finds No Magic Bullets
A recent paper in a Russian economics journal confirms that there is no simple way out of the dollar hegemony box.
Read more...How Javier Milei Upset Argentina’s Political Status Quo
Yves here. We’re featuring a post from openDemocracy on Argentina’s primary results that had far-right candidate Javier Milei beating the candidates of the two parties that have been in power for two decades. The post is telling, and not in a good way. Milei does advocate extreme views (not that he can go as far […]
Read more...BRICS Officially Confirmed That It Doesn’t Want To De-Dollarize & Isn’t Anti-Western
Yet more evidence that the BRICS aren’t ready to launch a serious anti-dollar/new currency regime.
Read more...Michael Hudson: Debt, Sponsors of the Wars, Future of USD and BRICS
ichael Hudson on topics old and new: the role of debt in rentier extraction and US hegemony, and the prosepcts for the dollar and BRICS.
Read more...War Hawks’ Drive to Expand NATO into Asia May Destroy Western Military Alliance
Individuals can fail upwards, but organizations? NATO not been up to the task of propping up Ukraine, but the US wants to aim it at China.
Read more...Russia Is Finally Correcting False Perceptions of BRICS
Russia is dialing down expectations for big BRICS developments at a late August summit.
Read more...Explaining China’s & India’s Reported Differences Over Expanding BRICS
Quelle surprise! China and India have different economic interests, which means they have diverging visions for BRICS development.
Read more...Alt-Media Is in Shock After the BRICS Bank Confirmed That It Complies with Western Sanctions
Andrew Korybko explains why the BRICS won’t move as quickly on the new reserve currency projects as enthusiasts suggest.
Read more...Russian Central Bank Governor Elvira Nabiullina and Head of “BRICS Bank” Throw Cold Water on BRICS Currency Project
We’re late to a story that interestingly has been very much under-reported, perhaps because it is contrary to the anti-globalist narrative….already a minority faction in the Anglosphere. We’ve said for some time that the prospects for replacing the dollar are a long way away, even more so with a newly-created, reserve currency aspirant. Our views […]
Read more...James Galbraith: How Central Bank Myths and Practices Support Financiers and Dollar Hegemony
Sadly, some bank-serving fables are very durable, so James Galbraith has (yet another) go at them.
Read more...America Has Just Destroyed a Great Empire
America is making a mess in trying to preserve its hegemony.
Read more...The EU Sows the Seeds of Its Own Destruction
Brussels’ increasing attacks on the working class mirror decades-long Italian efforts that have caused a collapse in standard of living and trust in the EU.
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