Diamond News Archives
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On August 15, 1971, President Richard Nixon severed the dollar’s link to gold. This episode of What’s Ahead explains how this decision has cost the economy trillions of dollars in lost growth and why a gold standard is crucial for higher long-term growth.C
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-You have raised the possibility of China no longer pegging the yuan to the dollar some day.
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The dollar slipped from 4-1/2-month highs to trade little changed on Wednesday after minutes of last month's Federal Reserve meeting suggested there was no consensus about the timing of a tapering of its asset purchases under the U.S. central bank's quantitative easing program.
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- Category: News Archives
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Yes, Fed Chair Powell gave written testimony before the US Senate Banking Committee. He left out one important bit of information: US banks have $168.2 TRILLION in derivative exposure. It could be that Chairman Powell had other things on his mind, like reverse repos over $1 trillion and a $8.26 trillion balance sheet.
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Inflation is slamming the freezer shut and leading households around the world to make sacrifices.
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