“The United States has forced other countries into accepting the primacy of the dollar and used power politics to maintain its privileged position”, said the People’s Daily in 1971. In the meantime, the dollar’s real value has been undermined by the erosion of US gold reserves “brought...
The value of the RMB was tightly controlled during the period of thecommand economy. One yuan was pegged at 2.46 yuan to the U.S. dollar until 1971. The PBOC allowed the yuan to trade on international markets as the Chinese economy began opening to the world market, but thefloating exchan...
On one side, it serves as a hedge: an asset to buy when markets turn volatile and when central banks diversify away from the U.S. dollar. On the other side, it’s a popular consumer good, embedded in cultural and technological demand. Thanks to these dual sources of demand, gold can ...
From 1971 to 1973, the money markets and the value of the dollar became a news, an opinion, an editorial item in both the New York Times and the Wall Street Journal. I examine this record to question how was anxiety about the dollar resolved in media communication? Media narratives were ...
Inflation and the Value of the U.S. Dollar Since gold is often dollar-denominated on world markets, its price tends to exhibit an inverse relationship with the U.S. dollar.11 Gold is comparatively less expensive for foreign buyers when the dollar weakens against other major currencies, potentia...
l ounce of gold was worth $35.After World War II,other countries based the value of their currencies on the U.S.dollar.Since everyone knew how much gold a U.S.dollar was worth,then the value of any other currency against the dollar could be based on its value in gold.A currency ...
The Million Dollar Guadagnini: Lorin Maazel’s 1783 Guadagnini Violin sold at Auction for charity It’s not a Strad, but maestro Lorin Maazel will have you know that his 1783 Guadagnini is second to none. “The violin is one of the spectacular examples of Guadagnini’s expertise,” Maazel ...
inflation has been contained, thanks to low gas prices and the strong dollar but for millions of people steady work is no longer an assured way of life. We have to find a way to break the pattern of very low growth in gross domestic product and in employment. The best way to do this...
The Fraying of the US Global Currency Reserve System Published December 2, 2020 Since autumn of 2019, I’ve been bearish on the dollar, meaning I have a longish-term outlook towards a weaker dollar. This view began forming when the Federal Reserve cut interest rates in summer 2019, and ...
This is the "Since 1954 vol.8 Staying True to the Spirit of the Three Corporate Principles Even in Times of Great Economic Turmoil" page. Various contents about Mitsubishi Corporation are introduced here.