The idea that prices and exchange rates adjust so as to equalize the common-currency price of identical bundles of goods—purchasing power parity (PPP)—is a topic of central importance in international finance. If PPP holds continuously, then nominal exchange rate changes do not influence trade ...
The plunge in the valuation of bitcoin and most of the hundreds of other digital tokens that were inspired by the virtual currency has appeared to validate criticisms from financial luminaries like Bridgewater's Ray Dalio, who famously called it a bubble late last year. He was one-upped this ...
Thus, while I cannot predict when they will lose control and it may not even happen in 2021 given the vast powers of the “Fed” to manipulate and the debts owed to it by foreign banks (since it has bailed them out before), the stock market will crash.See “The Fed...