Commentary In the full panoply of the Biden administration’s foreign policy errors aned gaffes, perhaps none was so stupid as its failed attempt to weaponize the dollar—the world’s reserve currency—against Russia for its invasion of Ukraine. It’s telling that during World War II, neither the United States nor the United Kingdom—when the British pound sterling was…
Biden’s Weaponizing the Dollar Against Russia Has Backfired
July 3, 2023
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De-dollarization?
Commentary The potential U.S. debt ceiling and U.S. dollar status problems reignite the discussion of de-dollarization. The status of U.S. dollar will no doubt be firmly anchored in the financial market, which has already been discussed here previously. But the U.S. dollar share of goods trade is claimed to be jeopardized by the Chinese mouthpieces…
Stabilizing Currency Peg to US Dollar May Be Too Costly for Hong Kong This Time: Expert
July 31, 2022
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Hong Kong’s central bank has spent over $22 billion in ten weeks to stabilize the exchange rate of the Hong Kong dollar (HKD) amid weakening market confidence in the city’s currency. Since May 2022, the Hong Kong Monetary Authority (HKMA), the city’s central bank, has bought HKDs at its fastest pace to keep the U.S….
The Dirty Little Secret of Central Bank Digital Currency
April 26, 2022
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President Joe Biden’s March 9th Executive Order gave “the highest urgency on research and development efforts into the potential design and deployment options of a United States CBDC,” or central bank digital currency. Unlike cryptocurrencies, such as Bitcoin, CBDCs—as their name implies—are issued by central banks and have a value equivalent to the denomination of…
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