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fairobserver - 2 month ago

Our Dollar, Your Problem: Market Stress, Exchange Rate Feedback and the Fiscal Reckoning Ahead

In 1971, US President Richard Nixon shocked the global financial system by ending the dollar’s convertibility into gold, dissolving the Bretton Woods order and introducing a new era of floating exchange rates. Treasury Secretary John Connally, with striking candor, declared: “The dollar is our currency, but it’s your problem.” This phrase has echoed through decades Continue reading Our Dollar, Your Problem: Market Stress, Exchange Rate Feedback and the Fiscal Reckoning Ahead The post Our Dollar, Your Problem: Market Stress, Exchange Rate Feedback and the Fiscal Reckoning Ahead appeared first on Fair Observer.


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