James Meadway , Jan 6, 2023. BlackRock thinks inflation will come down only if central banks ‘crush’ economies into a severe recession
The world’s largest asset manager has forecast systemic economic chaos. The reality is even worse
James Meadway , Jan 30, 2023. Are we seeing the collapse of the dollar-dominated global economy?
Financial shocks in recent years are forcing the global monetary architecture to change, say some economists
by Philip S Golub
a slow shift towards a tripolar world monetary system no longer exclusively centred in the West
Despite worries over the end of the Chinese economic miracle and harder times because of the aftershocks of the 2008 financial crisis, global rebalancing is happening — and quickly. The International Monetary Fund's executive board announced on 30 November that the Chinese currency, the renminbi (RMB) or yuan, would soon be included in the basket of currencies that make up its Special Drawing Rights (SDR), beside the US dollar, the euro, the British pound and the yen. The decision recognised (...)
The European Central Bank will discuss next week whether to begin laying the groundwork to add the Chinese yuan to its foreign-currency reserves, according to two people with knowledge of the matter.
Such a measure by the ECB would mark a major step in the internationalization of China’s currency, also known as the renminbi. While China is the world’s second-largest national economy, the yuan isn’t ranked among the most-held foreign reserve assets, according to data from the International Monetary Fund. The U.S. dollar leads at 61 percent of holdings.
From Yahoo Finance: China will begin direct trading between its yuan currency and the euro starting on Tuesday, the national foreign exchange market's operator said, as Beijing seeks to broaden the unit's global usage.
About: "The Forum for Stable Currencies was co-founded by Lord Sudeley and Sabine K McNeill. It was the result of Lord Sudeley trying to get justice for two incidents in his family of unique notoriety: Lloyd’s bank had made his great-grandfather bankrupt
Posted December 2009. The reach of the newly global market, as Napoleoni argues in her new book, Rogue Economics: Capitalism's New Reality, connects us all to the dark side, regardless of our intentions to be responsible -- and, she says, our deep connec
The single day record for gross-value settlement, set on 19 Mar 2008, stands at US$ 10.3 trillion, for 1,113,464 payment instructions. A key feature of CLS is the settlement of gross-value instructions with multi-lateral net funding. On average, CLS netti
« Web Strategy by Jeremiah Owyang | Social Media, Web Marketing "Motives: Facebook Must Go Open To Increase Monetization Inventory" "Resulting in More Content Inventory for Advertising Opportunities. Facebook knows LINK that in order to compete with ma
"Den lokalt skapade valutan stannar i den lokala ekonomin . Där finns den alltid tillgänglig. Vanliga pengar däremot, som sätts in på bank, återinvesteras mycket sällan i det område de kommer från."
China signed on last year to a G-20 platform for “strong, sustainable and balanced growth,” which has become a sort of motto for global the recovery. But there is little agreement on how to make the motto a reality. (NYT Yuan News)
In a statement, PayPal said that they have “…permanently restricted the account used by WikiLeaks due to a violation of the PayPal Acceptable Use Policy, which states that our payment service cannot be used for any activities that encourage, promote, faci
Review of Shaxon's "Treasure Islands" and "Winner-Take-All Politics: How Washington Made the Rich Richer – and Turned Its Back on the Middle Class" by Jacob Hacker and Paul Pierson
SANYA, China | Thu Apr 14, 2011 10:42am IST SANYA, China (Reuters) - The development banks of the five BRICS nations agreed in principle on Thursday to establish mutual credit lines denominated in their local currencies, not in dollars." "the leaders call