When Mario Draghi’s tenure was approaching its end, I argued for a sterner governor for the European Central Bank (ECB); hence, I was not even slightly enthusiastic when Draghi’s successor turned out to be Christine Lagarde—a patent dove, as can be inferred from her...
Over the past century, monetary systems change about every 30 to 40 years on average. Before 1914, the global monetary system was based on the classical gold standard. Then in 1945, a new monetary system emerged at Bretton Woods. I was at Bretton Woods this past...
The Saudis want to break free from U.S. influence and hedge their bets with China and the Russians
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