{"id":12296,"date":"2015-09-16T06:07:24","date_gmt":"2015-09-16T11:07:24","guid":{"rendered":"http:\/\/olduvai.ca\/?p=12296"},"modified":"2015-09-16T06:07:24","modified_gmt":"2015-09-16T11:07:24","slug":"world-holds-breath-waits-for-death-of-the-dollar","status":"publish","type":"post","link":"https:\/\/olduvai.ca\/?p=12296","title":{"rendered":"World Holds Breath, Waits for \u201cDeath of the Dollar\u201d"},"content":{"rendered":"

World Holds Breath, Waits for \u201cDeath of the Dollar\u201d<\/a><\/h3>\n

Dismantling the dollar hegemony one yuan at a time.<\/strong><\/p>\n

I\u2019ve been asked many times about the impending\u00a0\u201cdeath of the dollar.\u201d I know some folks who expect the dang thing to die. They\u2019re already envisioning the spectacle. An entire industry has sprung up to prepare and equip people for the moment when the dollar dies. It\u2019s like insurance, the theme goes: hopefully you\u2019ll never need it.<\/p>\n

But the dollar is a human creation, a fiat currency. It doesn\u2019t have a life of its own. It\u2019s managed, rigged, and manipulated. It\u2019s an accounting entity, a (lousy)\u00a0store of value, and a means of handling transactions so you don\u2019t have to barter your first-born for a Lexus.<\/p>\n

As longs as it\u2019s useful, the powers that be are going to keep it around. But over the long term, the dollar will do what it has done since the Fed was put in charge of it 100 years ago: it will lose value.<\/p>\n

And the \u201cstrong dollar\u201d these days? Ah, the irony!<\/strong><\/h3>\n

It\u2019s causing mayhem in the emerging markets where governments, corporations, and even consumers borrowed in dollars to save on interest. Now that their currencies are collapsing against the dollar, it\u2019s getting very expensive to service these dollar debts, and they\u2019re going to explode, and the holders of these debts are going to eat some big losses, unless they get bailed out again.<\/p>\n

This \u201cstrong dollar\u201d dents US exports and boosts imports. US corporations use it liberally as an excuse for their sorry revenues and earnings.<\/p>\n

This is the value of the dollar in relationship to other currencies. These relationships are rigged to the nth degree. They go up and down and react to a million things, including central bank jawboning and monetary policies.<\/p>\n

 <\/p>\n

…click on the above link to read the rest of the article…<\/p>\n","protected":false},"excerpt":{"rendered":"

World Holds Breath, Waits for \u201cDeath of the Dollar\u201d Dismantling the dollar hegemony one yuan at a time. I\u2019ve been asked many times about the impending\u00a0\u201cdeath of the dollar.\u201d I know some folks who expect the dang thing to die. They\u2019re already envisioning the spectacle. An entire industry has sprung up to prepare and equip […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[2],"tags":[9063,212,9064,9065,679,9066,4254,4255],"class_list":["post-12296","post","type-post","status-publish","format-standard","hentry","category-economics","tag-death-of-dollar","tag-dollar","tag-dollar-hegemony","tag-power-of-dollar","tag-reserve-currency","tag-trading-currency","tag-wolf-richter","tag-wolfstreet"],"_links":{"self":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/12296","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=12296"}],"version-history":[{"count":1,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/12296\/revisions"}],"predecessor-version":[{"id":12297,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/12296\/revisions\/12297"}],"wp:attachment":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=12296"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=12296"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=12296"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}