A m seventh in May 2009 an article appeared in the LAT from the political analyst Elmar Altvater the still and straight is topical again. Key question: " threaten after the financial crisis now the currency war ?
interesting above all, what could the devaluation of the dollar, according to Elder consequences: side-effects, which could be beneficial for some parts of the U.S. population, as for example a reduction in the debt burden, there would be some very delicate effects that would have all to do with the end of dollar hegemony.
It was added for completeness, that so few bright minds have, for example, questioned Kenneth Galbraith, the positive impact of low interest rates: How have the cuts by the Fed in 2003, as Galbraith in his book "The Economics of innocent fraud " notes taken any positive effects of becoming the economy.
And then we still have the negative impact: speculative bubble that could burst in the wake growth and devaluation of the USD (and it probably will), anticipated losses in treasury held in dollars Reserves of the European and Asian states, or even big in Japan , the liquidity trap
But no matter, let's look at the effects of really concern.
First, the development could bring more now that oil is no longer traded in U.S. dollars, second, that the dollar could be replaced as a transaction currency in the financial market and as a reserve and trading currency. These are not just small impact. Above all, because they were far from confined to the sphere of economics.
Interestingly, the interest in the political implications, a strong dollar depreciation could bring, in the media still not be too strongly present
It is not meant to paint the devil on the wall, but. The disengagement from the U.S. dollar as reserve currency would have a whole lot other problematic consequences.
Because who wants to act as the Gulf countries, their oil not in dollars, and, not least of any obligations to the dollar compared to free up land?
The U.S. would then again have to choose between quiet retirement and a loud bang. What is announced here in any case, is more than just an insidious replace the dollar as reserve currency and over recent blistering and Japanese states: What announces itself, the case of an empire-paper notes to fall slowly to the ground, but the consequences are still difficult to estimate.
interesting above all, what could the devaluation of the dollar, according to Elder consequences: side-effects, which could be beneficial for some parts of the U.S. population, as for example a reduction in the debt burden, there would be some very delicate effects that would have all to do with the end of dollar hegemony.
It was added for completeness, that so few bright minds have, for example, questioned Kenneth Galbraith, the positive impact of low interest rates: How have the cuts by the Fed in 2003, as Galbraith in his book "The Economics of innocent fraud " notes taken any positive effects of becoming the economy.
And then we still have the negative impact: speculative bubble that could burst in the wake growth and devaluation of the USD (and it probably will), anticipated losses in treasury held in dollars Reserves of the European and Asian states, or even big in Japan , the liquidity trap
But no matter, let's look at the effects of really concern.
First, the development could bring more now that oil is no longer traded in U.S. dollars, second, that the dollar could be replaced as a transaction currency in the financial market and as a reserve and trading currency. These are not just small impact. Above all, because they were far from confined to the sphere of economics.
Interestingly, the interest in the political implications, a strong dollar depreciation could bring, in the media still not be too strongly present
It is not meant to paint the devil on the wall, but. The disengagement from the U.S. dollar as reserve currency would have a whole lot other problematic consequences.
Because who wants to act as the Gulf countries, their oil not in dollars, and, not least of any obligations to the dollar compared to free up land?
The U.S. would then again have to choose between quiet retirement and a loud bang. What is announced here in any case, is more than just an insidious replace the dollar as reserve currency and over recent blistering and Japanese states: What announces itself, the case of an empire-paper notes to fall slowly to the ground, but the consequences are still difficult to estimate.
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